This bill establishes new regulations for online marketplaces that facilitate sales from foreign countries of concern, specifically defining these countries and outlining the responsibilities of online sellers and marketplaces. It creates a new section, 501.174, in the Florida Statutes, which includes definitions for terms such as "foreign country of concern," "online marketplace," and "online seller." The bill mandates that online marketplaces must record the Internet protocol address of sellers to verify their locations and must disclose the general location of sellers if they are based in or conducting business from a foreign country of concern.

Additionally, the bill requires online marketplaces to hold sales proceeds from transactions involving Florida-based consumers and sellers from these foreign countries in a United States-based escrow account for a minimum of 120 days before transferring the funds to the seller. Violations of these provisions would be considered a breach of the Florida Deceptive and Unfair Trade Practices Act. The act is set to take effect on July 1, 2025.