HB 1333 2024
CODING: Words stricken are deletions; words underlined are additions.
hb1333-00
Page 1 of 2
F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
A bill to be entitled 1
An act relating to trust funds; creating s. 624.3153, 2
F.S.; creating the Emergency Residential Property 3
Insurance Assistance Trust Fund within the Department 4
of Financial Services; providing purpose, funding, and 5
administration of the trust fund; providing 6
eligibility for the trust fund; providing for future 7
review and termination or re -creation of the trust 8
fund; providing an effective date. 9
10
Be It Enacted by the Legislature of the State of Florida: 11
12
Section 1. Section 624.3153, Florida Statutes, is created 13
to read: 14
624.3153 Emergency Residential Property Insurance 15
Assistance Trust Fund. — 16
(1) There is created within the Department of Financial 17
Services the Emergency Residential Property Insurance Assistance 18
Trust Fund to provide financial assistance to homeowners who can 19
demonstrate financial need or an inability to pay their 20
homeowners' insurance as rates increase. 21
(2) The trust fund shall consist of $500 million of the 22
state reserves. 23
(3) Until the Legislature can provide permanent solutions 24
to keep people in their homes, a homeowner who has a total 25
HB 1333 2024
CODING: Words stricken are deletions; words underlined are additions.
hb1333-00
Page 2 of 2
F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
annual household income that does not exceed $250,000 before 26
taxes is eligible for financial assista nce from the trust fund. 27
(4) The department shall administer the trust fund. 28
(5) In accordance with s. 19(f)(2), Art. III of the State 29
Constitution, the trust fund shall, unless terminated sooner, be 30
terminated on July 1, 2028. Before its scheduled ter mination, 31
the trust fund shall be reviewed as provided in s. 215.3206(1). 32
Section 2. This act shall take effect July 1, 2024. 33