The proposed bill establishes a new section, 112.049, in the Florida Statutes, titled the "Heroes Reward Program," which allows specified public employers to provide a one-time payout of accrued sick and annual leave to eligible employees for the purpose of purchasing a primary residence. The bill defines key terms such as "employee," "primary residence," and "public employer," and outlines the conditions under which the payout can be made. These conditions include the requirement that the payout be used for the purchase of a primary residence, the employee must retain a minimum balance of sick leave, and the employer must provide a written statement confirming the nonrefundable nature of the payout.

Additionally, the bill stipulates that the payout is separate from other leave benefits and must be deducted from the employee's accrued leave balances at the time of payment. Payments are to be made at the employee's current base rate of pay and are subject to taxes. The bill also mandates that funds be disbursed directly to a licensed closing or escrow agent upon the employee's request, and if the transaction does not close, the funds must be returned to the employer. The Department of Management Services is tasked with adopting rules to implement this section, and political subdivisions may adopt the program through various means. The act is set to take effect on July 1, 2026.