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| 3 | 3 | | HB 851 2025 |
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| 7 | 7 | | CODING: Words stricken are deletions; words underlined are additions. |
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| 8 | 8 | | hb851-00 |
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| 9 | 9 | | Page 1 of 3 |
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| 10 | 10 | | 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 |
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| 14 | 14 | | A bill to be entitled 1 |
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| 15 | 15 | | An act relating to trust funds; creating s. 215.55861, 2 |
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| 16 | 16 | | F.S.; creating the My Safe Florida Home Trust Fund 3 |
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| 17 | 17 | | within the Department of Financial Services; 4 |
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| 18 | 18 | | specifying sources of funds and the purpose of the 5 |
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| 19 | 19 | | trust fund; requiring that a certain percentage of 6 |
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| 20 | 20 | | specified sales tax be distributed into the fund; 7 |
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| 21 | 21 | | requiring the Department of Revenue to distribute 8 |
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| 22 | 22 | | certain funds within a specified timeframe; specifying 9 |
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| 23 | 23 | | that any balance shall remain in the trust fund under 10 |
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| 24 | 24 | | certain circumstances; prohibiting the balance in the 11 |
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| 25 | 25 | | trust fund from exceeding a certain amount; requiring 12 |
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| 26 | 26 | | that any excess funds be transferred to the General 13 |
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| 27 | 27 | | Revenue Fund; requiring the department to ensure 14 |
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| 28 | 28 | | compliance with certain provisions and provide a 15 |
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| 29 | 29 | | specified report to the Legislature at a specified 16 |
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| 30 | 30 | | time annually; providing for future review and 17 |
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| 31 | 31 | | termination or re-creation of the trust fund; 18 |
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| 32 | 32 | | providing an effective date. 19 |
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| 33 | 33 | | 20 |
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| 34 | 34 | | Be It Enacted by the Legislature of the State of Florida: 21 |
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| 35 | 35 | | 22 |
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| 36 | 36 | | Section 1. Section 215.55861, Florida Statutes, is created 23 |
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| 37 | 37 | | to read: 24 |
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| 38 | 38 | | 215.55861 My Safe Florida Home Trust Fund. — 25 |
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| 40 | 40 | | HB 851 2025 |
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| 44 | 44 | | CODING: Words stricken are deletions; words underlined are additions. |
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| 45 | 45 | | hb851-00 |
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| 46 | 46 | | Page 2 of 3 |
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| 47 | 47 | | 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 |
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| 51 | 51 | | (1) The My Safe Florida Home Trust Fund is created within 26 |
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| 52 | 52 | | the Department of Financial Services. The trust fund shall 27 |
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| 53 | 53 | | consist of funds collected pursuant to subsection (2), to be 28 |
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| 54 | 54 | | used exclusively for the purposes of the My Safe Florida Home 29 |
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| 55 | 55 | | Program. 30 |
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| 56 | 56 | | (2) Following a declaration of a state of emergency by the 31 |
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| 57 | 57 | | Governor, an amount equal to 5 percent of the state sales tax 32 |
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| 58 | 58 | | remitted to the Department of Revenue pursuant to 212.15(4) in 33 |
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| 59 | 59 | | the 2 months following the month of landfall of a hurricane from 34 |
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| 60 | 60 | | dealers within the counties named in the declaration shall be 35 |
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| 61 | 61 | | distributed to the My Safe Florida Home Trust Fund. The 36 |
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| 62 | 62 | | department shall distribute the funds to the My Safe Florida 37 |
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| 63 | 63 | | Home Trust Fund no later than the end of the third month after 38 |
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| 64 | 64 | | the month landfall took place. 39 |
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| 65 | 65 | | (3) Notwithstanding s. 216.301 and pursuant to s. 216.351, 40 |
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| 66 | 66 | | any balance in the trust fund at the end of any fiscal year 41 |
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| 67 | 67 | | shall remain in the trust fund at the end of the year and shall 42 |
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| 68 | 68 | | be available for carrying out the purpose of the trust fund. 43 |
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| 69 | 69 | | (4) The balance in the trust may not exceed $300 million 44 |
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| 70 | 70 | | at any time. Any funds in excess of this a mount shall be 45 |
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| 71 | 71 | | transferred to the General Revenue Fund. 46 |
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| 72 | 72 | | (5) The Department of Financial Services shall ensure 47 |
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| 73 | 73 | | compliance with this section and provide an annual report on 48 |
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| 74 | 74 | | fund balances and any transfers made pursuant to this section. 49 |
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| 75 | 75 | | The report must be d elivered to the President of the Senate and 50 |
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| 77 | 77 | | HB 851 2025 |
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| 81 | 81 | | CODING: Words stricken are deletions; words underlined are additions. |
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| 82 | 82 | | hb851-00 |
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| 83 | 83 | | Page 3 of 3 |
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| 84 | 84 | | 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 |
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| 88 | 88 | | the Speaker of the House of Representatives by February 1 of 51 |
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| 89 | 89 | | each year. 52 |
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| 90 | 90 | | (6) In accordance with s. 19(f)(2), Art. III of the State 53 |
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| 91 | 91 | | Constitution, the trust fund shall, unless terminated sooner, be 54 |
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| 92 | 92 | | terminated on July 1, 2029. Before its scheduled termination, 55 |
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| 93 | 93 | | the trust fund shall be reviewed as provided in s. 215.3206(1) 56 |
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| 94 | 94 | | and (2). 57 |
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| 95 | 95 | | Section 2. This act shall take effect July 1, 2025. 58 |
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