FL S1606

Creates the Florida Motion Picture Capital Corporation as a nonprofit entity to provide financing to scripted film and television productions filmed in Florida, with the goal of encouraging in-state production activity.

Establishes a 7-member board of directors composed of investment banking experts, film/television production leaders, representatives of production suppliers and workforce, with appointments made by the Governor, Legislature, chamber of commerce, venture forum, and industry associations.

Sets financing criteria including: corporation investment cannot exceed in-state expenditures or half of total production cost; requires bonded collection accounts, proof of presales of at least 1.5 times corporation exposure, insurance coverage, and production expert approval of budget and script.

Requires board preference for productions generating greatest economic impact through high-wage jobs and in-state spending, quickest deployment timeline, state-based companies, and those featuring Florida stories or locations.

Mandates the Auditor General conduct annual financial audits of the corporation and establishes account procedures for depositing appropriations, investing unallocated funds, and maintaining exclusive board control over all financing operations.