The bill amends the My Safe Florida Condominium Pilot Program by revising the definition of "condominium" to exclude detached units on individual parcels of land and limiting participation in the program to structures or buildings on condominium property that are three or more stories high, with at least two single-family dwellings. It establishes new conditions for condominium associations to apply for hurricane mitigation inspections and grants, requiring majority approval from the board and compliance with specific inspection requirements. Additionally, the bill mandates that grant funds can only be used for water intrusion mitigation devices or improvements that result in a mitigation credit, discount, or other rate differential.

The bill also revises the approval process for mitigation grants, changing the requirement from a unanimous vote to at least 75 percent approval from unit owners residing within the structure. It specifies that improvements must be identified in the final hurricane mitigation inspection to qualify for grant funds and outlines the types of improvements eligible for funding. Furthermore, it emphasizes that grant funds must be matched by the association and sets a maximum total grant award per association. The bill aims to enhance the hurricane resilience of condominium properties while ensuring fiscal accountability and compliance with building codes.