In mid-June, Florida Governor Ron DeSantis signed a bill into law that gives (NASDAQ: TSLA) and select other electric vehicle (EV) makers a couple of notable advantages over legacy automakers in the Sunshine State.

Having an edge over competitors -- especially the big players, such as Ford and General Motors -- in Florida's auto sales market is no small advantage. The country's third-most-populous state is home to about 22.2 million people, or about 6.7% of the nation's total population. Moreover, Florida's population has been growing more rapidly than the national average for decades. Indeed, in 2022, it clinched the title of the fastest-growing state in the country, according to the U.S. Census Bureau.

Below are three key provisions of the Florida law, which goes into effect July 1, that investors should know about.

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Source Fool.com