DeSantis Signs 2024-2025 State Budget

The new budget includes significant funding linked to Florida Realtors Legislative priorities, including $100 million for the Hometown Heroes Housing Program.

TALLAHASSEE – Gov. Ron DeSantis signed Florida’s 2024-2025 Fiscal Year budget on Wednesday, approving numerous Florida Realtors priorities that were passed during the legislative session.

The $116.5 billion budget features significant funding for the Hometown Heroes Housing Program, the My Safe Florida Home Program, state and local government affordable housing programs, and a large investment in water quality and environmental projects throughout the state.

“The governor’s signature on this budget is a significant milestone in our legislative efforts this year, and many of the programs and services it supports will directly help our members, their clients and their businesses,” said Florida Realtors President Gia Arvin. “Many thanks to Gov. DeSantis and the Florida Legislature for crafting a budget that focuses on the needs of our growing and prosperous state, while maintaining a healthy amount of reserves to handle future emergencies.”

One of the largest Realtor® wins in the budget is a $100 million infusion of funding into the Hometown Heroes Housing Program. Since 2021, this highly successful first-time homebuying program has already helped more than 14,000 hard-working Floridians buy their first home. With this additional funding it stands to help thousands more when the money becomes available after July 1, 2024.

The budget also includes $200 million for the My Safe Florida Home Program and $30 million for the My Safe Florida Condominium Pilot Program. These programs are designed to assist Florida homeowners through home inspections and cost-sharing for approved home hardening and wind mitigation programs to reduce premiums and make properties less vulnerable to hurricane damage.

Additionally, the budget also includes these important REALTOR® priorities:

• $408 million for state and local programs that increase affordable housing options for Floridians
  • $174 million for SHIP (State Housing Initiatives Partnership) program
  • $234 million for SAIL (State Apartment Incentive Loan) program
• $1.2 billion for water quality and environmental projects to keep Florida clean and beautiful
  • Everglades restoration ($581 million)
  • C-51 Reservoir ($100 million)
  • Biscayne Bay ($20 million)
  • Indian River Lagoon ($75 million)
  • Caloosahatchee River & St. Lucie Estuaries ($25 million)
  • Combating harmful algal blooms ($30 million)
  • Springs restoration ($55 million)
  • Beach management funding assistance ($50 million)
  • Total maximum daily loads ($25 million)
  • Wastewater Grant Program ($135 million)
  • Resilient Florida Grant Program ($125 million)
  • Alternative Water Supply ($55 million)

• $500,000 to help prevent unlicensed real estate activity.
• $500,000 to evaluate the Impact of lookback periods

Unless stated otherwise, the budget will become effective on July 1, 2024.

© 2024 Florida Realtors®