The bill amends the My Safe Florida Condominium Pilot Program by introducing new definitions and eligibility requirements for participation. It defines "area median income" as the median household income published annually by the U.S. Department of Housing and Urban Development for the county where the condominium is located. The bill also revises participation criteria, allowing condominium associations constructed before January 1, 2008, and those with at least 80% of occupied units owned by families with incomes at or below 80% of the area median income to apply. Additionally, it specifies that properties with mixed-income occupancies can participate if they meet the income threshold.

Furthermore, the bill mandates the Department of Financial Services to adopt rules for verifying household income and allows for periodic recertification. It requires that applications for mitigation grants include documentation to verify household income and limits grant funds to improvements addressing common elements of the condominium property. The bill also stipulates that associations must complete a certain percentage of recommended opening protection improvements to qualify for grant funding. The act is set to take effect on July 1, 2026.