The proposed bill establishes the Veterans Rental Assistance Grant Program, aimed at providing financial support to low-income, honorably discharged veterans in Florida who face challenges in securing rental housing. The program, created under section 420.5098 of the Florida Statutes, allows the Florida Housing Finance Corporation to offer one-time grants of up to $2,000 to eligible veterans to assist with security deposits required by landlords. The bill outlines specific eligibility criteria, including proof of honorable discharge, residency in Florida, and an annual household income at or below 140 percent of the area median income.

Additionally, the bill emphasizes the importance of supporting veterans by addressing barriers to housing access, particularly for those who may struggle to afford upfront rental costs. The Florida Housing Finance Corporation is also granted the authority to adopt rules necessary for the implementation of the program. The act is set to take effect on July 1, 2025.