This bill amends section 222.22 of the Florida Statutes to expand the exemption of certain assets from legal processes. It introduces two new subsections that specifically exempt moneys related to homeowner savings plans and qualified home disaster mitigation and recovery expenses accounts from attachment, levy, garnishment, or any legal process in favor of creditors. The bill defines a homeowner savings plan as one used by homestead property owners to reduce taxable income, with savings directed back into the plan for homeownership-related expenses.

Additionally, the bill stipulates that the provisions regarding homeowner savings plans will only take effect if the Federal Government grants tax-exempt or tax-deferred status to such plans. The bill also includes a provision for the exemption of moneys in qualified home disaster mitigation and recovery expenses accounts, ensuring that these funds are protected from legal claims. The act is set to take effect on July 1, 2025.