The proposed bill establishes the Veterans' Rental Assistance Grant Program under a new section, 420.5098, of the Florida Statutes. This program aims to provide financial assistance to low-income, honorably discharged veterans to help cover security deposits for rental housing. The Florida Housing Finance Corporation is authorized to issue one-time grants of up to $2,000 to eligible applicants, addressing the barriers that some veterans face in securing housing due to financial constraints.

To qualify for the rental assistance grant, applicants must be honorably discharged veterans, residents of Florida, and have an annual household income at or below 140 percent of the area median income. Verification of income and residency is required, and the Florida Housing Finance Corporation is empowered to adopt rules for the program's implementation. The bill is set to take effect on July 1, 2025.