Gulf Zone Opportunity Act Revises Definition of Dependent

The Gulf Zone Opportunity Act ("GZOA") was signed into law on December 21, 2005. GZOA generally provided federal tax incentives for the Gulf Opportunity Zone (i.e., those areas affected by Hurricanes Katrina, Rita and Wilma). However, GZOA also enacted a number of technical corrections, including several technical corrections to the Working Families Tax Relief Act of 2004 ("WFTRA"). WFTRA was the piece of legislation that impacted your health, vision, dental and/or prescription drug plan definition of dependent and the definition of qualifying individuals under dependent care reimbursement accounts.  Go here to learn more about the changes made by GZOA.

If you have any questions concerning these amendments, please contact Melissa Proffitt Reese, Katrina M. Clingerman, or your Ice Miller benefits attorney.