HB 1055 2024
CODING: Words stricken are deletions; words underlined are additions.
hb1055-00
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F L O R I D A H O U S E O F R E P RE S E N T A T I V E S
A bill to be entitled 1
An act relating to property insurance rebate program 2
for low-income seniors; creating the program within 3
the Department of Financial Services for a certain 4
purpose; providing eligibility requirements to a 5
rebate under the program; authorizing eligible persons 6
to apply to the program if certain documentation and 7
proof are provided; specifying the calculation of the 8
rebate and procedures for disbursing funds; 9
authorizing the department to adopt rules; providing 10
an appropriation; providing an effective date. 11
12
Be It Enacted by the Legislature of the State of Florida: 13
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Section 1. Insurance Rebate Program for Low -Income 15
Seniors.— 16
(1) The Insurance Rebate Program for Low-Income Seniors is 17
created within the Department of Financial Services to provide 18
low-income seniors relief on the rising costs of property 19
insurance paid in this state. 20
(2) To be eligible for a rebate, a person must meet all of 21
the following requirements: 22
(a) Be a Florida resident. 23
(b) Be 65 years of age or older. 24
(c) Have an income equal to or less than 200 percent of 25
HB 1055 2024
CODING: Words stricken are deletions; words underlined are additions.
hb1055-00
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F L O R I D A H O U S E O F R E P RE S E N T A T I V E S
the federal poverty level. 26
(3) An eligible person may apply to the program, on a form 27
approved by the department, no later than June 30 of the year 28
after the eligible person paid property insurance, or, if the 29
eligible person resides in a condominium, after the eligible 30
person made the proportionate share of property insurance for at 31
least 12 months, for his or her p rimary residence. The eligible 32
person must provide: 33
(a) Documentation verifying: 34
1. The payment of property insurance; or 35
2. If he or she resides in a condominium, his or her 36
proportionate share of property insurance for the 12 months 37
immediately preceding the date of the application; and 38
(b) Proof of his or her primary residence. 39
(4) Within 30 days after receiving a completed application 40
and verifying the information required under subsection (3), the 41
department shall issue a check or remit funds using direct 42
deposit to the eligible person or household in an amount equal 43
to: 44
(a) Ten percent of the amount the eligible person paid in 45
property insurance; or 46
(b) If the eligible person resides in a condominium, 10 47
percent of the proportionate share of property insurance he or 48
she paid for the 12 months immediately preceding the date of the 49
application. 50
HB 1055 2024
CODING: Words stricken are deletions; words underlined are additions.
hb1055-00
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F L O R I D A H O U S E O F R E P RE S E N T A T I V E S
(5) The department may adopt rules necessary to administer 51
the Insurance Rebate Program for Low -Income Seniors. 52
(6) For the 2024-2025 fiscal year, the Insurance Rebate 53
Program for Low-Income Seniors shall be funded, subject to 54
appropriation, from unallocated general revenue. 55
Section 2. This act shall take effect July 1, 2024. 56