The bill amends section 205.194 of the Florida Statutes to require individuals applying for or renewing a local business tax receipt to provide proof of an active license or authorization from the Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury. This requirement specifically applies to those engaging in or managing businesses that conduct transactions subject to OFAC's sanction programs. The bill also allows for online renewals to satisfy this requirement through electronic certification by the applicant.

Additionally, the bill redesignates the existing subsection (2) of section 205.194 as subsection (3) and introduces the new subsection (2) that outlines these requirements. The effective date for this legislation is set for October 1, 2026.