The bill amends section 83.46 of the Florida Statutes to introduce new definitions and regulations regarding the rent of affordable housing dwelling units. It defines "affordable" in accordance with existing law and establishes "base rent" as the initial rent determined by an affordable housing program, based on various income metrics. The bill prohibits landlords of affordable housing units who have received funding or tax incentives from increasing the base rent during the term of a rental agreement. However, it allows for rent increases upon the renewal of a rental agreement or adjustments based on changes in a tenant's qualifications for housing assistance.

Additionally, the new provisions apply specifically to rental agreements with a term of 13 months or less that are entered into on or after July 1, 2026. The bill is set to take effect on July 1, 2025, providing a timeline for landlords and tenants to prepare for these changes in rental regulations.