The proposed bill, titled "Consumer protection against online sellers from foreign countries of concern," establishes new regulations for online marketplaces operating in Florida. It defines key terms such as "foreign country of concern," which includes nations like China, Russia, and Iran, and outlines the responsibilities of online marketplaces. These platforms are required to record the Internet protocol address of online sellers to verify their locations and must disclose the general location of sellers if they are based in or fulfill orders from these foreign countries.

Additionally, the bill mandates that online marketplaces hold sales proceeds from transactions involving Florida consumers and sellers from foreign countries of concern 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, providing a framework for enforcement. The act is set to take effect on July 1, 2025.