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FL S0106
Bill
AI Summary
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Creates the Qualified Television Revolving Loan Fund (QTV Fund) within the Department of Economic Opportunity to provide loans to production companies for television content production in Florida.
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Establishes a public-private partnership where the state appropriates funds to be privately managed by a contracted fund administrator, with private lending partners providing additional senior debt financing at a minimum leverage ratio of 2.5 times the state capital.
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Limits QTV Fund loans to 36 months duration and restricts state funding to no more than 30 percent of total production costs, with loans secured by anticipated broadcaster license fee receivables and ancillary revenues.
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Requires qualified television content to be series, miniseries, or made-for-TV productions with broadcast contracts from major broadcasters, produced in Florida with at least 80 percent of budget spent in-state, and excludes obscene content.
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Establishes fund administrator reporting requirements including annual financial audits, program reports on loans and job creation, and creates Auditor General oversight authority; the fund expires December 31, 2026 with remaining funds reverting to the General Revenue Fund.
Legislative Description
Economic Development
Last Action
Withdrawn prior to introduction
11/30/2015