THE BILL ITSELF

CS/CS/SB 1604

Trust Funds/Vacancy Relief and Risk Mitigation Trust Fund

VERSION S 1604 c2 · BACK TO THE SUMMARY · OFFICIAL RECORD

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

Florida Senate - 2026 CS for CS for SB 1604 By the Appropriations Committee on Transportation, Tourism, and Economic Development; the Committee on Military and Veterans Affairs, Space, and Domestic Security; and Senator Wright 606-03022-26 20261604c2

1 A bill to be entitled

2 An act relating to trust funds; creating s. 420.56,

3 F.S.; creating the Vacancy Relief and Risk Mitigation

4 Trust Fund within the Florida Housing Finance

5 Corporation for a specified purpose; authorizing any

6 unexpended balance at a specified time to revert and

7 be reappropriated for a certain purpose; providing for

8 future review and termination or re-creation of the

9 trust fund; providing a contingent effective date.

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

13 Section 1. Section 420.56, Florida Statutes, is created to

14 read:

15 420.56 Vacancy Relief and Risk Mitigation Trust Fund.—

16 (1) The Vacancy Relief and Risk Mitigation Trust Fund is

17 created within the Florida Housing Finance Corporation, to which

18 the Legislature may appropriate funds for the purpose of

19 implementing the Homes for Veterans Property Management

20 Incentive Pilot Program under s. 83.684.

21 (2) Notwithstanding s. 216.301 and pursuant to s. 216.351,

22 any balance in the trust fund at the end of the fiscal year must

23 revert and be appropriated to the corporation for the next

24 fiscal year for carrying out the purposes of the trust fund.

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

26 Constitution, the Vacancy Relief and Risk Mitigation Trust Fund

27 must, unless terminated sooner, be terminated on July 1, 2030.

28 Before the scheduled termination of the Vacancy Relief and Risk

29 Mitigation Trust Fund, the trust fund must be reviewed as

30 provided in s. 215.3206(1) and (2).

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

32 only if SB 1602 or similar legislation is adopted in the same

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