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
HB 1055 2024
1 A bill to be entitled
2 An act relating to property insurance rebate program
3 for low-income seniors; creating the program within
4 the Department of Financial Services for a certain
5 purpose; providing eligibility requirements to a
6 rebate under the program; authorizing eligible persons
7 to apply to the program if certain documentation and
8 proof are provided; specifying the calculation of the
9 rebate and procedures for disbursing funds;
10 authorizing the department to adopt rules; providing
11 an appropriation; providing an effective date.
12
13 Be It Enacted by the Legislature of the State of Florida:
14
15 Section 1. Insurance Rebate Program for Low-Income
16 Seniors.—
17 (1) The Insurance Rebate Program for Low-Income Seniors is
18 created within the Department of Financial Services to provide
19 low-income seniors relief on the rising costs of property
20 insurance paid in this state.
21 (2) To be eligible for a rebate, a person must meet all of
22 the following requirements:
23 (a) Be a Florida resident.
24 (b) Be 65 years of age or older.
25 (c) Have an income equal to or less than 200 percent of
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HB 1055 2024
26 the federal poverty level.
27 (3) An eligible person may apply to the program, on a form
28 approved by the department, no later than June 30 of the year
29 after the eligible person paid property insurance, or, if the
30 eligible person resides in a condominium, after the eligible
31 person made the proportionate share of property insurance for at
32 least 12 months, for his or her primary residence. The eligible
33 person must provide:
34 (a) Documentation verifying:
35 1. The payment of property insurance; or
36 2. If he or she resides in a condominium, his or her
37 proportionate share of property insurance for the 12 months
38 immediately preceding the date of the application; and
39 (b) Proof of his or her primary residence.
40 (4) Within 30 days after receiving a completed application
41 and verifying the information required under subsection (3), the
42 department shall issue a check or remit funds using direct
43 deposit to the eligible person or household in an amount equal
44 to:
45 (a) Ten percent of the amount the eligible person paid in
46 property insurance; or
47 (b) If the eligible person resides in a condominium, 10
48 percent of the proportionate share of property insurance he or
49 she paid for the 12 months immediately preceding the date of the
50 application.
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51 (5) The department may adopt rules necessary to administer
52 the Insurance Rebate Program for Low-Income Seniors.
53 (6) For the 2024-2025 fiscal year, the Insurance Rebate
54 Program for Low-Income Seniors shall be funded, subject to
55 appropriation, from unallocated general revenue.
56 Section 2. This act shall take effect July 1, 2024.
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