FL S1438

Creates the Qualified Television Loan Fund (QTV Fund) within the Department of Economic Opportunity as a public-private partnership to provide loans for television production in Florida.

Establishes a $20 million appropriation from the General Revenue Fund for fiscal year 2014-2015 to capitalize the QTV Fund as an evergreen loan program.

Requires the department to contract with a private fund administrator by September 1, 2014, who must demonstrate experience managing entertainment industry funds and secure a qualified lending partner capable of providing 2.5 times leverage on the state capital.

Limits QTV Fund loans to 30 percent of total production costs for series, mini-series, and made-for-TV content with distribution contracts from major broadcasters, with loans secured by broadcast license agreements and ancillary media revenues.

Establishes reporting requirements including audited financial statements, annual program reports detailing job creation and loan performance, and mandates an operational audit by the Auditor General; program expires December 31, 2024.