No. CS/CS/SB 1604
Filed under Housing.
Trust Funds/Vacancy Relief and Risk Mitigation Trust Fund; Creating the Vacancy Relief and Risk Mitigation Trust Fund within the Florida Housing Finance Corporation for a specified purpose; authorizing any unexpended balance at a specified time to revert and be reappropriated for a certain purpose; providing for future review and termination or re-creation of the trust fund, etc.
Plain English Summary
AI-GENERATEDThe bill creates a new trust fund within the Florida Housing Finance Corporation. The Legislature may appropriate funds to this new account for a specific housing program.
The fund is strictly limited to implementing the Homes for Veterans Property Management Incentive Pilot Program. It cannot be used for any other purpose or general housing needs.
Any money left in the fund at the end of a fiscal year must automatically revert to the corporation. It is then appropriated for the next year to continue the program's work.
The fund is set to terminate on July 1, 2030. It must undergo a legislative review before that date to determine if it should be ended or re-created.
AIRequires that any money left in the fund at the end of a fiscal year must be returned to the corporation for the next year, preventing the fund from accumulating unused cash.
AIRequires the fund to be reviewed and then automatically terminated on July 1, 2030, unless the Legislature acts to terminate it sooner.