The bill amends the My Safe Florida Condominium Pilot Program by introducing a definition for "area median income" and removing the definition of "service area." It revises eligibility requirements for participation in the program, stipulating that condominium associations must have at least 80% of occupied units owned or occupied by individuals or families whose income is at or below 80% of the area median income. The Department of Financial Services is tasked with adopting rules to verify household income and may require periodic recertification. Additionally, condominiums with mixed-income occupancies can participate if they meet the income threshold.

The bill also outlines the application process for mitigation grants, requiring associations to provide documentation to verify household income and complete a certain percentage of recommended improvements from hurricane mitigation inspections. Grant funds are limited to improvements addressing common elements of the condominium property, and associations must ensure compliance with various voting and disclosure requirements before applying. The amendments will apply to applications submitted on or after July 1, 2026, with the act taking effect on that date.