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 for securing rental housing by offering one-time grants of up to $2,000 to cover security deposits. The Florida Housing Finance Corporation is tasked with administering these grants and ensuring that eligible applicants meet specific criteria, including proof of honorable discharge, state residency, and an annual household income at or below 140 percent of the area median income.

To qualify for the rental assistance grant, applicants must provide documentation such as a DD-214 form or other acceptable proof of honorable discharge, a Florida driver’s license or identification card for residency verification, and undergo income verification through various means. The bill also grants the Florida Housing Finance Corporation the authority to adopt necessary rules for the program's implementation. The act is set to take effect on July 1, 2025.