The proposed bill establishes new regulations for online marketplaces that facilitate sales from sellers located in foreign countries deemed as "countries of concern," which include nations such as China, Russia, and Iran. It mandates that online marketplaces collect specific information, including the Internet protocol address of online sellers, to verify their locations. Additionally, before any transaction, these marketplaces must disclose the general location of the seller if they are based in or conducting business from one of these foreign countries.

Furthermore, the bill requires online marketplaces to hold sales proceeds from transactions involving Florida-based consumers in a United States-based escrow account for a minimum of 120 days before transferring the funds to the seller. This provision aims to enhance consumer protection and ensure that transactions are secure. Violations of these regulations would be treated as breaches of the Florida Deceptive and Unfair Trade Practices Act, thereby allowing for enforcement actions. The bill is set to take effect on July 1, 2025.