CS for SB 1646 - Economic Development Summary

• Creates the Florida Sports Foundation as a direct-support organization under the Department of Economic Opportunity to promote the sports industry, amateur athletics participation, and Florida as a host for national and international sports competitions.

• Renames the Quick Action Closing Fund as the Florida Enterprise Fund, requiring 20% local financial support match and establishing stricter contract requirements including a maximum 10-year term (with possible successive agreements).

• Establishes the Entertainment Action Fund providing up to 30% of qualified entertainment production expenditures, with a July 1, 2026 expiration date, and transfers the Office of Film and Entertainment to Enterprise Florida, Inc. as the Division of Film and Entertainment.

• Revises economic development incentive definitions and requirements, including clarifying that state investment calculations exclude governmental grants and funds, and that incentive payments are not refunds of taxes paid.

• Repeals section 288.1169 regarding the International Game Fish Association World Center facility and deletes residency requirements for Sunshine State Games and Florida Senior Games participants.