The proposed bill establishes the Working Floridians Tax Rebate Program within the Department of Revenue, aimed at providing financial relief to low- to moderate-income residents who qualify for the federal Earned Income Tax Credit (EITC). Eligible individuals or households must maintain a Florida residence, apply by June 30 of the year they received the EITC, and provide documentation of their EITC amount. The rebate will be calculated as 20% of the EITC received and disbursed within 30 days of a completed application. Additionally, the Department of Revenue is required to submit a report by December 31, 2024, assessing the feasibility of creating an automatic rebate program that would streamline the application process.

The bill also includes provisions that prohibit the rebate from affecting eligibility for certain assistance programs, such as Medicaid and the Supplemental Nutrition Assistance Program. Furthermore, it authorizes the Department of Revenue to adopt emergency rules to implement the act, which will take effect on July 1, 2025, and applies to EITC grants beginning on or after January 1, 2026.