HB 0273 2004
1	A bill to be entitled
2	An act relating to payments to Florida residents based on
3	the federal earned income tax credit; providing for an
4	annual payment to a Florida resident equal to a percentage
5	of the federal earned income tax credit allowed to that
6	person; providing for transfers from the General Revenue
7	Fund to cover costs of such payments; providing duties of
8	the Department of Revenue; providing an effective date.
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10	Be It Enacted by the Legislature of the State of Florida:
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12	Section 1. Working families wage supplement.--
13	(1)(a) A Florida resident shall be allowed a payment from
14	the Department of Revenue equal to 10 percent of the earned
15	income tax credit allowed to that person under s. 32 of the
16	federal Internal Revenue Code for tax year 2003 and each year
17	thereafter. This payment shall be made in the calendar year
18	following the tax year for which the federal credit is allowed.
19	(b) An amount up to, but not exceeding, the total amount
20	of payments under this section shall be transferred from the
21	General Revenue Fund to the Department of Revenue to cover the
22	cost of the payments.
23	(2) The Department of Revenue shall establish procedures
24	to identify and distribute payments to eligible recipients by
25	rule adopted pursuant to ss. 120.536(1) and 120.54, Florida
26	Statutes. Such procedures shall include distributing payments to
27	Florida residents identified by the Internal Revenue Service as
28	eligible recipients of the federal earned income tax credit.
29	Section 2. This act shall take effect upon becoming a law.