THE BILL ITSELF
CS/HB 1483
Trust Fund/Creation/Vacancy Relief and Risk Mitigation Trust Fund/Florida Housing Finance Corporation
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A bill to be entitled
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An act relating to trust funds; creating s. 420.56,
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F.S.; creating the Vacancy Relief and Risk Mitigation
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Trust Fund within the Florida Housing Finance
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Corporation for a specified purpose; authorizing any
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unexpended balance at a specified time to revert and
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be reappropriated for a certain purpose; providing for
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future review and termination or re-creation of the
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trust fund; providing a contingent effective date.
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Be It Enacted by the Legislature of the State of Florida:
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Section 1. Section 420.56, Florida Statutes, is created to
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read:
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420.56 Homes for Veterans Property Management Incentive
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Pilot Program trust fund.—
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(1) The Vacancy Relief and Risk Mitigation Trust Fund is
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created within the Florida Housing Finance Corporation, to which
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the Legislature may appropriate funds for the purpose of
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implementing the Homes for Veterans Property Management
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Incentive Pilot Program under s. 83.684.
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(2) Notwithstanding s. 216.301 and pursuant to s. 216.351,
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any balance in the trust fund at the end of the fiscal year
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shall revert and be appropriated to the corporation for the next
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fiscal year for carrying out the purposes of the trust fund.
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(3) In accordance with s. 19(f)(2), Art. III of the State
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Constitution, the Vacancy Relief and Risk Mitigation Trust Fund
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must, unless terminated sooner, be terminated on July 1, 2030.
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Before the scheduled termination of the Vacancy Relief and Risk
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Mitigation Trust Fund, the trust fund must be reviewed as
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provided in s. 215.3206(1) and (2).
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Section 2. This act shall take effect July 1, 2026, but
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only if HB 1481 or similar legislation is adopted in the same
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legislative session or an extension thereof and becomes a law.