The bill amends the My Safe Florida Condominium Pilot Program by establishing new eligibility criteria for participation, specifically limiting it to structures or buildings that are three or more stories high and contain two or more single-family dwellings. It revises the approval requirements for associations seeking mitigation grants, changing the necessary approval from a unanimous vote to at least 75 percent of voting interests. Additionally, the bill removes specific funding amounts previously designated for certain projects and instead requires that grant funds be used for improvements that will yield a mitigation credit, discount, or other rate differential.

Furthermore, the bill mandates that all improvements funded by the grants must be verified during a final hurricane mitigation inspection to qualify for the funds. It also specifies that the Department of Financial Services must ensure that certain improvements are made under specific circumstances. The act is set to take effect on July 1, 2025.