CS/HB 237 Summary

• Creates a qualified television revolving loan fund within the Department of Economic Opportunity to provide loans for television production in Florida, with the fund privately managed by a contractor selected through competitive bidding.

• Establishes loan structure requiring 36-month maximum duration, funding only up to 30 percent of total production costs as subordinated debt to senior loans from qualified lending partners, and secured by broadcaster license agreements and ancillary revenues.

• Specifies qualified television content must be series, mini-series, or made-for-TV content with distribution contracts from major broadcasters, produced in-state with 80 percent of budget spent in Florida, minimum $1 million per episode for series or $6 million for telenovelas.

• Requires fund administrator to provide annual financial statements audited by independent certified public accountants, program reports detailing loans and job creation, and conflict-of-interest certifications; authorizes Auditor General to conduct operational audits.

• Expires December 31, 2025, with remaining funds reverting to General Revenue Fund; includes emergency rulemaking authority expiring October 1, 2016, and requires qualified television loan fund analysis in Economic Development Programs Evaluation.