SB 196 Summary: Qualified Television Revolving Loan Fund

• Creates a qualified television revolving loan fund within the Department of Economic Opportunity to provide short-term loans to television production companies for qualified content projects.

• Establishes that the Department must contract with a private fund administrator within 90 days of appropriation, selected through competitive bidding, with preference given to in-state entities experienced in managing entertainment and media funds.

• Requires loans to be structured with senior debt from a qualified lending partner providing at least 2.5 times leverage, with QTV Fund loans capped at 30 percent of total production costs and limited to 36-month terms.

• Specifies that qualified television content must include a broadcast distribution contract with a major broadcaster covering at least 60 percent of budget, with a minimum of 80 percent of production spending occurring in Florida.

• Expires December 31, 2025, with remaining funds reverting to the General Revenue Fund, and requires the Auditor General to conduct operational audits of the fund and administrator.