HB 1419 Summary

• Creates the Qualified Television Loan Fund (QTV Fund) with $20 million from the Economic Development Trust Fund to provide short-term loans for television production in Florida.

• Establishes a public-private partnership structure where the Department of Economic Opportunity contracts with a private fund administrator to manage the evergreen fund, which reinvests principal and interest from loan repayments.

• Fund administrator must demonstrate experience managing entertainment and media funds and secure a qualified lending partner capable of providing minimum 2.5x leverage in senior debt financing.

• QTV Fund loans are limited to 36 months, must be secured by broadcast license agreements and ancillary revenues, cannot exceed 30 percent of production costs, and require productions to spend at least 80 percent of budget in Florida.

• Program expires December 31, 2024, with all remaining funds reverting to the General Revenue Fund; Auditor General must conduct operational audits of the fund and administrator.