Bill > S0160

This bill creates the Emergency Residential Property Insurance Assistance Trust Fund within the Department of Financial Services to provide financial relief to Florida homeowners struggling with insurance costs. Specifically, homeowners with an annual household income of $250,000 or less will be eligible to receive assistance from a $500 million fund drawn from unallocated general revenue. The Legislature intends this trust fund to be a temporary solution to help prevent homeowner displacement while more permanent insurance solutions are developed. The Department of Financial Services will administer the fund, which is set to be automatically reviewed and potentially terminated on July 1, 2030, in accordance with state constitutional requirements. The bill's provisions will take effect on July 1, 2026, providing a future start date for the trust fund's implementation.

https://www.flsenate.gov/Session/Bill/2026/160