HB 341 - Florida Motion Picture Capital Corporation

• Creates the Florida Motion Picture Capital Corporation as a nonprofit organization to provide financing to scripted productions (feature films of at least 70 minutes, television series with 5+ episode orders, and miniseries) produced in Florida.

• Establishes a seven-member board of directors composed of investment banking experts, recognized production leaders, business suppliers, and workforce representatives, with initial appointments made by specified state entities and organizations.

• Financing cannot exceed a production's in-state expenditures, must remain junior to other ownership interests, and cannot exceed 12.5 percent of total available funds; corporation retains no voting rights or creative control.

• Requires productions to use bonded third-party collection accounts, obtain insurance including hurricane coverage for summer productions, provide proof of remaining funds within 60 days, and submit to board inspection of cost reports throughout production.

• Creates the Florida Motion Picture Capital Account funded by state appropriations and investment returns; the corporation must notify the Department of Economic Opportunity and publish details of financed productions on its website; effective July 1, 2018.