FL S1576

Creates the Florida Film Investment Corporation as a nonprofit corporation to make equity investments in scripted film and television productions in Florida to encourage in-state production and economic development.

Restricts corporation investments to feature films (70+ minutes), television series (5+ episodes), and miniseries based on written scripts, excluding documentaries, reality shows, commercials, sports events, and other non-scripted content.

Establishes detailed investment criteria including requirements that productions use bonded collection accounts, obtain tier one sales agency presales estimates of at least 1.5 times the corporation's investment, carry specified insurance, and provide proof of remaining budget funds within 60 days.

Creates a seven-member board of directors representing investment banking, film/television production, supply businesses, and workforce interests, with members appointed by designated organizations and subject to state ethics laws.

Limits corporation investment in any single production to 12.5 percent of uncommitted funds plus outstanding investments, requires investments to rank equally with the highest ownership class, and mandates fund release in three stages tied to principal photography completion and final picture lock.