CS for SB 1214 Summary

• Expands the definition of "blighted area" to include properties damaged by sinkhole activity that are not adequately repaired or stabilized, enabling these areas to qualify for economic development incentives.

• Restructures economic development incentive programs by establishing a $50 million annual funding cap across multiple programs (ss. 288.0659, 288.1045, 288.106, 288.107, 288.108, 288.1088, and 288.1089), with legislative waiver authority and new payment validation requirements.

• Transfers the Office of Film and Entertainment from the Department of Economic Opportunity to Enterprise Florida, Inc., renaming it the Division of Film and Entertainment and requiring the Governor to appoint the film commissioner; modifies the entertainment industry tax credit program with new application cycles and evaluation criteria.

• Creates the Entertainment Action Fund to provide competitive grants for entertainment productions and establishes the Quick Action Closing Fund Escrow Account within the State Board of Administration to manage existing escrowed funds for approved projects.

• Establishes new housing programs including workforce housing loans for the Florida Keys and Rapid ReHousing initiatives to address homelessness; modifies housing trust fund distributions to support homeless continuums of care.