House Bill hb0095B

    Florida House of Representatives - 2001                HB 95-B

        By Representative Gottlieb






  1                      A bill to be entitled

  2         An act relating to payments to Florida

  3         residents based on certain federal tax credits;

  4         providing for an annual payment to a Florida

  5         resident equal to a percentage of the federal

  6         earned income tax credit allowed to that

  7         person; providing a limitation; providing

  8         duties of the Department of Revenue; providing

  9         for transfers from the federal Temporary

10         Assistance to Needy Families program to cover

11         costs of such payments; providing an effective

12         date.

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14  Be It Enacted by the Legislature of the State of Florida:

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16         Section 1.  Working families wage supplement.--

17         (1)  A Florida resident shall be allowed a payment from

18  the Department of Revenue equal to 10 percent of the earned

19  income tax credit allowed to that person under s. 32 of the

20  federal Internal Revenue Code for tax year 2002 and each year

21  thereafter. This payment shall be made in the calendar year

22  following the tax year for which the federal credit is

23  allowed. Payments made pursuant to this section shall not

24  exceed the funds available from the Temporary Assistance to

25  Needy Families program pursuant to subsection (3).

26         (2)  The Department of Revenue shall establish

27  procedures to identify and distribute payments to eligible

28  recipients by rule adopted pursuant to ss. 120.536(1) and

29  120.54, Florida Statutes. Such procedures shall include

30  distributing payments to Florida residents identified by the

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CODING: Words stricken are deletions; words underlined are additions.






    Florida House of Representatives - 2001                HB 95-B

    592-127A-01






  1  Internal Revenue Service as eligible recipients of the federal

  2  earned income tax credit.

  3         (3)  An amount up to, but not exceeding, the total

  4  amount of payments under this section shall be transferred

  5  from the federal Temporary Assistance to Needy Families

  6  program to the Department of Revenue to cover the cost of the

  7  payments.

  8         Section 2.  This act shall take effect July 1, 2002.

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11                          HOUSE SUMMARY

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      Provides for an annual payment to a Florida resident who
13    is eligible for the federal earned income tax credit in
      an amount equal to 10 percent of that credit. Provides
14    duties of the Department of Revenue. Provides for
      transfers from the federal Temporary Assistance to Needy
15    Families program to cover costs of such payments and
      limits such payments to the amount of funds available
16    from such program.

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CODING: Words stricken are deletions; words underlined are additions.