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FL S1044
Bill
AI Summary
- Creates the Emergency Residential Property Insurance Assistance Trust Fund within the Florida Department of Financial Services to provide financial assistance to homeowners unable to pay homeowners' insurance due to rate increases
- Funds the trust fund with $500 million drawn from unallocated general revenue
- Eligibility is limited to homeowners with a total annual household income not exceeding $250,000 before taxes who can demonstrate financial need
- The Department of Financial Services is responsible for administering the trust fund
- The trust fund is scheduled to terminate on July 1, 2029, unless terminated sooner or re-created following a required legislative review, and the act takes effect July 1, 2025
Legislative Description
Emergency Residential Property Insurance Assistance Trust Fund/Department of Financial Services
Last Action
Died in Banking and Insurance
6/16/2025
Full Bill Text
No bill text available