Florida Senate - 2026                             CS for SB 1604
       
       
        
       By the Committee on Military and Veterans Affairs, Space, and
       Domestic Security; and Senator Wright
       
       
       
       
       583-02214-26                                          20261604c1
    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 the
    4         Risk Mitigation Trust Fund within the Florida Housing
    5         Finance Corporation for a specified purpose;
    6         authorizing any unexpended balance in either trust
    7         fund at a specified time to revert and be
    8         reappropriated for a certain purpose; providing for
    9         future review and termination or recreation of the
   10         trust funds; providing a contingent 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 the Risk Mitigation
   19  Trust Fund are created within the Florida Housing Finance
   20  Corporation, to which the Legislature may appropriate funds for
   21  the purpose of implementing the Homes for Veterans Property
   22  Management 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 purpose 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 the Risk
   29  Mitigation Trust Fund must, unless terminated sooner, be
   30  terminated on July 1, 2030. Before the scheduled termination of
   31  the Vacancy Relief Trust Fund and the Risk Mitigation Trust
   32  Fund, each trust fund must be reviewed as provided in s.
   33  215.3206(1) and (2).
   34         Section 2. This act shall take effect July 1, 2026, if SB
   35  1602 or similar legislation is adopted in the same legislative
   36  session or an extension thereof and becomes a law.