The bill modifies the existing high-rise sprinkler system grant program by updating definitions and the structure of funding. It redefines "eligible building" to include those that are either 75 feet or more above the lowest level of fire department vehicle access or seven or more stories in height, and adjusts the income threshold for affordability from 50% to 60% of the Department of Housing and Urban Development's adjusted income levels. The term "grant program" is replaced with "use of funds," allowing for both grants and loans for the installation of sprinkler systems and potential relocation of residents during installation. The maximum grant amount is set at $2,000,000, with different matching requirements for nonprofit and for-profit organizations.

Additionally, the bill includes a financial component, transferring $10,000,000 from the general fund to the housing development fund and appropriating the same amount for the high-rise sprinkler system program for fiscal year 2026. This transfer and appropriation are designated as one-time actions, aimed at enhancing fire safety in high-rise residential buildings through improved sprinkler systems.