The bill amends section 83.46 of the Florida Statutes to establish protections for tenants living in affordable housing units. It introduces a new provision that prohibits landlords who have received federal, state, or local funding or tax incentives for their affordable housing units from increasing rent during the term of a rental agreement. However, the bill allows for rent increases when a tenant renews their rental agreement. Additionally, the bill defines the term "affordable" in accordance with existing law.

This legislation aims to provide stability for tenants in affordable housing by preventing unexpected rent increases during their lease term, thereby supporting housing affordability in Florida. The bill is set to take effect on July 1, 2025.