Florida Senate - 2026                                    SB 1604
       
       
        
       By Senator Wright
       
       
       
       
       
       8-00982-26                                            20261604__
    1                        A bill to be entitled                      
    2         An act relating to trust funds; creating s. 420.56,
    3         F.S.; creating the Vacancy Relief Trust Fund and Risk
    4         Mitigation Trust Fund within the Florida Housing
    5         Finance Corporation for a specified purpose;
    6         authorizing any unexpended balance at a specified time
    7         to revert and be reappropriated for a certain purpose;
    8         providing for future review and termination or
    9         recreation of the trust funds; providing a contingent
   10         effective date.
   11          
   12  Be It Enacted by the Legislature of the State of Florida:
   13  
   14         Section 1. Section 420.56, Florida Statutes, is created to
   15  read:
   16         420.56 Homes for Veterans Property Management Incentive
   17  Pilot Program trust funds.—
   18         (1) The Vacancy Relief Trust Fund and Risk Mitigation Trust
   19  Fund are created within the Florida Housing Finance Corporation,
   20  to which the Legislature may appropriate funds for the purpose
   21  of implementing the Homes for Veterans Property Management
   22  Incentive Pilot Program under s. 83.684.
   23         (2) Notwithstanding s. 216.301 and pursuant to s. 216.351,
   24  any balance in either trust fund at the end of the fiscal year
   25  shall revert and be appropriated to the corporation for the next
   26  fiscal year for carrying out the purposes of the trust funds.
   27         (3) In accordance with s. 19(f)(2), Art. III of the State
   28  Constitution, the Vacancy Relief Trust Fund and Risk Mitigation
   29  Trust Fund must, unless terminated sooner, be terminated on July
   30  1, 2030. Before the scheduled termination of the Vacancy Relief
   31  Trust Fund and Risk Mitigation Trust Fund, each trust fund must
   32  be reviewed as provided in s. 215.3206(1) and (2).
   33         Section 2. This act shall take effect July 1, 2026, if SB
   34  ____ or similar legislation is adopted in the same legislative
   35  session or an extension thereof and becomes a law.