The bill amends section 83.46 of the Florida Statutes to introduce new regulations regarding the rent of affordable housing dwelling units. It defines the term "affordable" in accordance with section 420.0004 and prohibits landlords of qualifying affordable housing units, who have received federal, state, or local funding or tax incentives, from increasing rent during the term of a rental agreement. However, exceptions are provided for rent increases when a tenant renews their rental agreement or if the increase is necessary to comply with federal laws, rules, or regulations.

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.