Florida SB 1604: Corrections

Bill Text

1604 
Trust Funds/Vacancy Relief and Risk Mitigation Trust Fund 
2026-02-20T11:35:42Z 
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. 
Committee Substitute 2 
2026 
S 
GB 
General Bill 
c2 

 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. 
 10 
 11 Be It Enacted by the Legislature of the State of Florida: 
 12 
 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.