The bill establishes two new trust funds, the Vacancy Relief Trust Fund and the Risk Mitigation Trust Fund, within the Florida Housing Finance Corporation. These funds are created to support the implementation of the Homes for Veterans Property Management Incentive Pilot Program. The bill specifies that any unexpended balance in these trust funds at the end of the fiscal year will revert and be reappropriated for the following fiscal year to continue funding the purposes of the trust funds. Additionally, the bill outlines that both trust funds will be subject to review and must be terminated by July 1, 2030, unless they are reviewed and reauthorized before that date.

The act is contingent upon the adoption of related legislation in the same legislative session and is set to take effect on July 1, 2026. The new legal language created by this bill includes provisions for the establishment of the trust funds, their intended purpose, and the conditions for their reappropriation and termination.