Senate Bill sb1858

    Florida Senate - 2003                                  SB 1858

    By Senator Diaz de la Portilla





    36-714-03                                            See HB 97

  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 for transfers from the

  8         federal Temporary Assistance to Needy Families

  9         program or the General Revenue Fund to cover

10         costs of such payments; providing duties of the

11         Department of Revenue; 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)  A Florida resident shall be allowed a payment

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

19  earned income tax credit allowed to that person under section

20  32 of the federal Internal Revenue Code for tax year 2002 and

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

22  calendar year following the tax year for which the federal

23  credit is allowed.

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

25  amount of payments under this section shall be transferred

26  from the federal Temporary Assistance to Needy Families

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

28  payments or, if funding is limited or not available under such

29  program, such amount shall be transferred from the General

30  Revenue Fund to the department for such purposes.

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






    Florida Senate - 2003                                  SB 1858
    36-714-03                                            See HB 97




 1         (2)  The Department of Revenue shall establish

 2  procedures to identify and distribute payments to eligible

 3  recipients by rule adopted pursuant to sections 120.536(1) and

 4  120.54, Florida Statutes. Such procedures shall include

 5  distributing payments to Florida residents identified by the

 6  Internal Revenue Service as eligible recipients of the federal

 7  earned income tax credit.

 8         Section 2.  This act shall take effect upon becoming a

 9  law.

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