The bill establishes the "First-time Homebuyer Assistance Program Trust Fund" within the State Treasury, as outlined in the newly created section 420.0007 of the Florida Statutes. The Department of Revenue is mandated to transfer all funds received under section 201.0202 to this trust fund, which will be specifically allocated to support the First-time Homebuyer Assistance Program established in section 420.5086. Additionally, the bill stipulates that the trust fund will be subject to review and will be terminated on July 1, 2030, unless it is terminated sooner.

The act is set to take effect on July 1, 2026, contingent upon the adoption of HB 1257 or similar legislation during the same legislative session or an extension thereof. This ensures that the funding and support for first-time homebuyers are systematically reviewed and maintained within the framework of state law.