I've been following this myself for awhile, the requirements are great for younger dreamers, but they completely left us older dreamers out. You must apply for college within 2 years after graduating from high school. I've read over the bill numerous times, there are NO clauses about existing graduates who have been out of school for 2 years+.
I've been out of high school for 7 years myself, and I know now that this is passed, the chances of Florida revisiting this issue are amazingly slim now. This is rather gut-wrenching news for me, but at least the kids now won't have to go through the depression of knowing you'll never be able to afford college in the US.