This bill establishes a grant program for low-income senior citizens who own condominium units that serve as their homestead. It amends section 420.507 of the Florida Statutes by adding a new subsection (51), which empowers the Florida Housing Finance Corporation to create rules for a one-time grant to assist these individuals with special assessments levied by their condominium associations. The maximum grant amount is set at $2,500 per homesteaded condominium unit.

Additionally, the bill defines key terms related to the grant program, specifying that "low-income persons" and "senior citizen" will have the same meanings as defined in existing statutes. The act is set to take effect on July 1, 2025.