The bill amends section 83.46 of the Florida Statutes to introduce new regulations regarding the rent of affordable housing dwelling units. It specifically prohibits landlords of these units, who have received federal, state, or local funding or tax incentives, from increasing rent during the term of a rental agreement. However, the bill allows for rent increases when a tenant is renewing their rental agreement. Additionally, the bill defines the term "affordable" in accordance with existing definitions in section 420.0004.

This legislation aims to provide stability for tenants living in affordable housing by preventing unexpected rent increases during their lease term. The effective date for this act is set for July 1, 2025, giving landlords and tenants time to adjust to the new regulations.