Florida Senate - 2026                        COMMITTEE AMENDMENT
       Bill No. CS for SB 1604
       
       
       
       
       
       
                                Ì126594EÎ126594                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: RCS            .                                
                  02/20/2026           .                                
                                       .                                
                                       .                                
                                       .                                
       —————————————————————————————————————————————————————————————————




       —————————————————————————————————————————————————————————————————
       The Appropriations Committee on Transportation, Tourism, and
       Economic Development (Wright) recommended the following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Delete everything after the enacting clause
    4  and insert:
    5         Section 1. Section 420.56, Florida Statutes, is created to
    6  read:
    7         420.56 Vacancy Relief and Risk Mitigation Trust Fund.—
    8         (1) The Vacancy Relief and Risk Mitigation Trust Fund is
    9  created within the Florida Housing Finance Corporation, to which
   10  the Legislature may appropriate funds for the purpose of
   11  implementing the Homes for Veterans Property Management
   12  Incentive Pilot Program under s. 83.684.
   13         (2) Notwithstanding s. 216.301 and pursuant to s. 216.351,
   14  any balance in the trust fund at the end of the fiscal year must
   15  revert and be appropriated to the corporation for the next
   16  fiscal year for carrying out the purposes of the trust fund.
   17         (3) In accordance with s. 19(f)(2), Art. III of the State
   18  Constitution, the Vacancy Relief and Risk Mitigation Trust Fund
   19  must, unless terminated sooner, be terminated on July 1, 2030.
   20  Before the scheduled termination of the Vacancy Relief and Risk
   21  Mitigation Trust Fund, the trust fund must be reviewed as
   22  provided in s. 215.3206(1) and (2).
   23         Section 2. This act shall take effect July 1, 2026, but
   24  only if SB 1602 or similar legislation is adopted in the same
   25  legislative session or an extension thereof and becomes a law.
   26  
   27  ================= T I T L E  A M E N D M E N T ================
   28  And the title is amended as follows:
   29         Delete everything before the enacting clause
   30  and insert:
   31                        A bill to be entitled                      
   32         An act relating to trust funds; creating s. 420.56,
   33         F.S.; creating the Vacancy Relief and Risk Mitigation
   34         Trust Fund within the Florida Housing Finance
   35         Corporation for a specified purpose; authorizing any
   36         unexpended balance at a specified time to revert and
   37         be reappropriated for a certain purpose; providing for
   38         future review and termination or re-creation of the
   39         trust fund; providing a contingent effective date.