The bill establishes new regulations regarding compensation for individuals who advise, assist, or consult on veterans benefits matters, as outlined in the newly created section 501.9741 of the Florida Statutes. It prohibits individuals from receiving compensation for merely referring clients to others for veterans benefits assistance and allows compensation only under specific conditions, such as a signed waiver from the veteran acknowledging their choice to forgo free services. Additionally, it mandates that a written agreement detailing the terms of compensation must be signed by both parties before any services are rendered. The bill also requires a written disclosure to be provided to clients, informing them that the services offered are not affiliated with the Department of Veterans Affairs and that free services may be available elsewhere.

Furthermore, the bill imposes strict prohibitions on charging initial fees, interest on payment plans, and guarantees of successful outcomes for veterans claims. It outlines requirements for handling veterans' personal information, including background checks for individuals accessing sensitive data. Violations of these provisions are classified as deceptive and unfair trade practices, subjecting offenders to penalties under the Florida Deceptive and Unfair Trade Practices Act. The bill clarifies that it does not affect the requirements for agents or employees of the Department of Veterans Affairs or accredited agents and attorneys regulated by that agency.