The proposed bill establishes the Working Floridians Tax Rebate Program, aimed at providing financial relief to low-income and moderate-income residents in Florida by offsetting sales taxes, fuel taxes, property taxes, and other fees. Eligibility for the rebate is contingent upon individuals or households having qualified for and received the federal Earned Income Tax Credit in a specified tax year. Applicants must maintain a Florida residence, apply by June 30 of the year they received the federal credit, and provide documentation of their credit amount. The Department of Revenue is tasked with issuing rebate payments within 30 days of application verification, with the rebate amount capped at 20% of the federal Earned Income Tax Credit received.

Additionally, the bill mandates that the Department of Revenue prepare a report by December 31, 2027, assessing the feasibility of creating an automatic rebate program that would eliminate the need for annual applications. The report will include recommendations or legislative proposals based on the feasibility findings. Importantly, the receipt of the rebate will not affect eligibility for programs such as Medicaid or the Supplemental Nutrition Assistance Program. The bill also stipulates that revenue from annual taxes generated under chapter 220 will be allocated to fund the rebate program starting in the 2025-2026 fiscal year, with the act set to take effect on July 1, 2025.