THE BILL ITSELF

HB 1259

Trust Funds/Creation/First-time Homebuyer Assistance Program Trust Fund

underlined language is being added; struck language is being deleted. Line numbers are the Legislature's own — the same ones amendments cite.

1 A bill to be entitled

2 An act relating to the First-time Homebuyer Assistance

3 Program Trust Fund; creating s. 420.0007, F.S.;

4 establishing the First-time Homebuyer Assistance

5 Program trust fund; requiring the Department of

6 Revenue to transfer certain funds to the trust fund;

7 requiring the trust fund to provide funding for a

8 certain program; providing for future review and

9 termination or re-creation of the fund; providing a

10 contingent effective date.

12 Be It Enacted by the Legislature of the State of Florida:

14 Section 1. Section 420.0007, Florida Statutes, is created to read:

16 420.0007 First-time Homebuyer Assistance Program Trust

17 Fund.—

18 (1) There is established in the State Treasury a separate

19 trust fund to be named the "First-time Homebuyer Assistance

20 Program Trust Fund." The Department of Revenue shall transfer

21 all funds received pursuant to s. 201.0202 to the trust fund.

22 The trust fund shall be used to provide funding for the First-

23 time Homebuyer Assistance Program created in s. 420.5086.

24 (2) In accordance with s. 19(f)(2), Art. III of the State

25 Constitution, the First-time Homebuyer Assistance Program Trust

26 Fund shall, unless terminated sooner, be terminated on July 1,

27 2030. Before its scheduled termination, the trust fund shall be

28 reviewed as provided in s. 215.3206(1) and (2).

29 Section 2. This act shall take effect July 1, 2026 but

30 only if HB 1257 or similar legislation is adopted in the same

31 legislative session or an extension thereof and becomes a law.