The proposed bill establishes a new section, 106.031, in the Florida Statutes that mandates the registration of agents and organizations associated with foreign nations. It defines key terms such as "agent of a foreign principal," "foreign principal," and "foreign-supported political organization," and requires these agents and organizations to register with the Division of Elections. The registration process includes submitting detailed information about the registrant, their foreign principals, and any political activities conducted on their behalf. Additionally, both agents and foreign-supported political organizations must update their registration information at least every 90 days.

The bill also outlines penalties for violations of the registration requirements, including fines that can escalate based on the nature of the violation, particularly if the foreign principal is deemed hostile. The penalties range from $500 for general violations to $10,000 for willful violations involving hostile foreign principals, along with potential bans on future registrations. The act is set to take effect on July 1, 2025.