Trust Funds/Creation/First-time Homebuyer Assistance Program Trust Fund

Taxes

Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor: Nixon
Last action: 2026-01-09
Official status: House - Withdrawn prior to introduction
Effective date: July 1, 20

Plain English Breakdown

The bill's effectiveness depends on another related bill being passed, which introduces uncertainty.

First-time Homebuyer Assistance Program Trust Fund

This bill establishes a trust fund within the State Treasury to provide funding for first-time homebuyers, with specific conditions.

What This Bill Does

Creates a First-time Homebuyer Assistance Program Trust Fund in the State Treasury.
Requires the Department of Revenue to transfer certain funds into this trust fund.
Specifies that the trust fund will be used to provide funding for the First-time Homebuyer Assistance Program.

Who It Names or Affects

First-time homebuyers who may receive assistance from the program funded by the trust fund.
The Department of Revenue, which is responsible for transferring funds into the trust fund.

Terms To Know

Trust Fund: A special account where money is kept to pay for specific programs or services.
First-time Homebuyer Assistance Program: A program that provides help to people buying their first home.

Limits and Unknowns

The bill only takes effect if HB 1257 or similar legislation is also passed in the same legislative session.
Details about how the trust fund will be reviewed and potentially re-created before its scheduled termination are not fully specified.

Bill History

2026-01-09 House
• Withdrawn prior to introduction
2026-01-08 House
• Filed

Official Summary Text

Trust Funds/Creation/First-time Homebuyer Assistance Program Trust Fund; Establishes First-time Homebuyer Assistance Program Trust Fund; requires Department of Revenue to transfer certain funds to trust fund; requires trust fund to provide funding for certain program.

Current Bill Text

Read the full stored bill text

HB 1259 2026

CODING: Words stricken are deletions; words underlined are additions.
hb1259-00
Page 1 of 2
F L O R I D A H O U S E O F R E P R E S E N T A T I V E S

A bill to be entitled 1
An act relating to the First-time Homebuyer Assistance 2
Program Trust Fund; creating s. 420.0007, F.S.; 3
establishing the First-time Homebuyer Assistance 4
Program trust fund; requiring the Department of 5
Revenue to transfer certain funds to the trust fund; 6
requiring the trust fund to provide funding for a 7
certain program; providing for future review and 8
termination or re-creation of the fund; providing a 9
contingent effective date. 10
11
Be It Enacted by the Legislature of the State of Florida: 12
13
Section 1. Section 420.0007, Florida Statutes, is created 14
to read: 15
420.0007 First-time Homebuyer Assistance Program Trust 16
Fund.— 17
(1) There is established in the State Treasury a separate 18
trust fund to be named the "First-time Homebuyer Assistance 19
Program Trust Fund." The Department of Revenue shall transfer 20
all funds received pursuant to s. 201.0202 to the trust fund. 21
The trust fund shall be used to provide funding for the First-22
time Homebuyer Assistance Program created in s. 420.5086. 23
(2) In accordance with s. 19(f)(2), Art. III of the State 24
Constitution, the First-time Homebuyer Assistance Program Trust 25

HB 1259 2026

CODING: Words stricken are deletions; words underlined are additions.
hb1259-00
Page 2 of 2
F L O R I D A H O U S E O F R E P R E S E N T A T I V E S

Fund shall, unless terminated sooner, be terminated on July 1, 26
2030. Before its scheduled termination, the trust fund shall be 27
reviewed as provided in s. 215.3206(1) and (2). 28
Section 2. This act shall take effect July 1, 2026 but 29
only if HB 1257 or similar legislation is adopted in the same 30
legislative session or an extension thereof and becomes a law. 31