Florida SB 472: Protection of Exploited Persons

Bill Text

472 
Trust Funds/Tariffs Result in Untimely Money Problems (TRUMP) 
2025-11-12T11:11:29Z 
Creating the Tariffs Result in Untimely Money Problems (TRUMP) Trust Fund; providing for funding of the trust fund; providing for future review and termination of the trust fund, etc. 
Original Filed Version 
2026 
S 
2026-07-01T00:00:00Z 
GB 
General Bill 
__ 

 Florida Senate - 2026 SB 472 

 By Senator Jones 

 34-00362-26 2026472__ 
 1 A bill to be entitled 
 2 An act relating to trust funds; creating s. 624.3154, 
 3 F.S.; providing legislative findings; creating the 
 4 Tariffs Result in Untimely Money Problems (TRUMP) 
 5 Trust Fund; providing for funding of the trust fund; 
 6 providing for future review and termination of the 
 7 trust fund; providing an effective date. 
 8 
 9 WHEREAS, on February 1, 2025, President Donald J. Trump 
 10 issued Executive Order 14193 and Executive Order 14194, imposing 
 11 steep tariffs on most goods imported from Canada and Mexico, and 
 12 WHEREAS, on April 2, 2025, President Donald J. Trump issued 
 13 Executive Order 14257, imposing a minimum global tariff of 10 
 14 percent, with higher tariffs on specific countries, and 
 15 WHEREAS, the tariffs imposed have steeply increased the 
 16 costs of building materials, including, but not limited to, 
 17 steel, aluminum, copper, timber, and lumber, and 
 18 WHEREAS, the National Association of Home Builders 
 19 estimates that approximately 7 percent of all goods used in new 
 20 residential construction originate from outside of the United 
 21 States, and 
 22 WHEREAS, the National Association of Home Builders has 
 23 found that a majority of builders reported price increases due 
 24 to tariffs, resulting in an estimated cost increase of $10,900 
 25 per home, and 
 26 WHEREAS, tariffs increase construction costs by raising 
 27 prices for imported building materials, forcing contractors to 
 28 seek alternative sources, adjust contracts, and delay or cancel 
 29 projects, and 
 30 WHEREAS, rising construction costs have increased the 
 31 expense of repairing or rebuilding homes after a covered loss, 
 32 which has contributed to higher homeowners’ insurance premiums, 
 33 including an estimated $464 annual increase per household in 
 34 Florida, NOW, THEREFORE, 
 35 
 36 Be It Enacted by the Legislature of the State of Florida: 
 37 
 38 Section 1. Section 624.3154, Florida Statutes, is created 
 39 to read: 
 40 624.3154 Tariffs Result in Untimely Money Problems (TRUMP) 
 41 Trust Fund.— 
 42 (1) The Legislature finds it necessary to respond to the 
 43 economic impact of federal policies that have resulted in record 
 44 increases in the cost of construction materials. 
 45 (2) There is created within the Department of Financial 
 46 Services the Tariffs Result in Untimely Money Problems (TRUMP) 
 47 Trust Fund, which shall provide financial assistance to 
 48 homeowners to offset increased repair and rebuilding costs 
 49 resulting from tariffs. 
 50 (3) The trust fund shall consist of $500 million drawn from 
 51 unallocated general revenue. 
 52 (4) In accordance with s. 19(f)(2), Art. III of the State 
 53 Constitution, the trust fund shall, unless terminated sooner, be 
 54 terminated on July 1, 2030. Before its scheduled termination, 
 55 the trust fund shall be reviewed as provided in s. 215.3206(1). 
 56 Section 2. This act shall take effect July 1, 2026.