It's aimed at Silicon Valley:

"I, along with the legislators and this great governor, do not think that a handful of kids behind some desks in Silicon Valley get to be the arbiter of what free speech is," House bill sponsor Blaise Ingoglia, R-Spring Hill said.

The new law comes into effect on July 1. It applies to any company with a revenue over $100 million or who have 100 million monthly participants. This is about maintaining a free and open town square. If political candidates are deplatformed it will cost the Tech Giants a quarter of a million dollars a day. (Those fines might have to be raised).

Coming soon: Big Tech to create all kinds of rules that benefit people who like Oligarchs.

Presumably Big Tech have already convened a team to deal with this. Expect their new rules to allow expressions of anything in peer reviewed literature, or approved by the FDA, AMA, Fed Reserve, or New York Times. And after the Biden Government sets up a Ministry of BLM, and a Department of Gender-Rights, then, "that too".

It's only step one in an arms race, but it's a step.