Florida Governor Ron DeSantis has been presented with a plan to allocate an additional $200 million to a program aimed at strengthening homes to reduce property insurance costs.
This proposal, known as SB 7028, was approved during the recent 2024 legislative session.
In a special legislative session held in November, lawmakers allocated $176.17 million to the My Safe Florida Home program to address a backlog of 17,600 grant applications.
The My Safe Florida Home program offers grants of up to $10,000 to assist residents in upgrading their homes, making them eligible for property insurance discounts. These grants are available for residences valued at up to $700,000.
Another proposal, HB 1029, is currently awaiting Governor DeSantis’s approval. This proposal would establish a pilot program allowing condominium associations to qualify for inspections and grants under the My Safe Florida Home initiative.
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In 2022, lawmakers initially allocated $215 million for these grants when they relaunched the program. The program is administered by the Florida Department of Financial Services and aims to address property insurance challenges in the state.
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