HB 530 prohibits political subdivisions, such as municipalities and counties, from establishing or operating guaranteed income programs unless explicitly authorized by law. A guaranteed income program is defined as one that provides unconditional, regular cash payments to individuals for any purpose, without requiring work, job training, or job-seeking efforts. The bill allows for the continuation of any existing programs until the earlier of their expiration date or January 1, 2026. This prohibition takes effect immediately if passed by a two-thirds majority in both houses or on September 1, 2025, if it does not receive the necessary votes for immediate implementation.