The bill establishes the My Safe Florida Home Trust Fund within the Department of Financial Services, aimed at supporting the My Safe Florida Home Program. It mandates that 5% of the state sales tax collected in the two months following a hurricane's landfall in designated counties be allocated to this trust fund. The Department of Revenue is required to distribute these funds within three months after the hurricane event. Additionally, any remaining balance in the trust fund at the end of the fiscal year will stay in the fund for its intended purpose, but the total balance cannot exceed $300 million; any excess will be redirected to the General Revenue Fund.

The Department of Financial Services is tasked with ensuring compliance with the provisions of the bill and must submit an annual report detailing fund balances and transfers to legislative leaders by February 1 each year. The trust fund is set to be reviewed before its scheduled termination on July 1, 2029, as outlined in the bill. The act is slated to take effect on July 1, 2025.