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 will offer one-time grants of up to $2,000 to assist with security deposits, addressing the barriers that veterans may encounter when trying to rent a home. The Florida Housing Finance Corporation is designated as the administering body for this program, with the authority to create rules for its implementation.

To qualify for the rental assistance grant, applicants must meet specific criteria, including being an honorably discharged veteran, a resident of Florida, and having an annual household income at or below 140 percent of the area median income. Proof of honorable discharge, residency, and income verification will be required as part of the application process. The bill emphasizes the importance of supporting veterans in their housing needs and aims to facilitate their access to rental opportunities. The act is set to take effect on July 1, 2026.