THE BILL ITSELF
SB 160
Emergency Residential Property Insurance Assistance Trust Fund/Department of Financial Services
Florida Senate - 2026 SB 160 By Senator Davis 5-00506-26 2026160__
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A bill to be entitled
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An act relating to trust funds; creating s. 624.3153,
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F.S.; creating the Emergency Residential Property
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Insurance Assistance Trust Fund within the Department
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of Financial Services; providing the purpose of the
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trust fund; providing eligibility for financial
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assistance from the trust fund; providing for funding
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and administration of the trust fund; providing
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legislative intent; providing for future review and
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termination or re-creation of the trust fund;
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providing an effective date.
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Be It Enacted by the Legislature of the State of Florida:
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Section 1. Section 624.3153, Florida Statutes, is created
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to read:
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624.3153 Emergency Residential Property Insurance
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Assistance Trust Fund.—
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(1) There is created within the Department of Financial
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Services the Emergency Residential Property Insurance Assistance
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Trust Fund to provide financial assistance to homeowners who can
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demonstrate financial need or an inability to pay their
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homeowners’ insurance due to rate increases. A homeowner who has
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a total annual household income that does not exceed $250,000
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before taxes is eligible for financial assistance from the trust
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fund.
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(2) The trust fund shall consist of $500 million drawn from
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unallocated general revenue.
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(3) It is the intent of the Legislature that, until
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permanent solutions can be provided to prevent the displacement
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of Florida homeowners, the trust fund shall serve as a temporary
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source of financial relief to help ensure housing stability.
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(4) The department shall administer the trust fund.
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(5) In accordance with s. 19(f)(2), Art. III of the State
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Constitution, the trust fund shall, unless terminated sooner, be
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terminated on July 1, 2030. Before its scheduled termination,
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the trust fund shall be reviewed as provided in s. 215.3206(1).
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Section 2. This act shall take effect July 1, 2026.