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FL S1516
Bill
AI Summary
- Establishes the International Aerospace Innovation Fund, administered by Space Florida, to accelerate global aerospace innovation through collaborative R&D projects, workforce development initiatives, and commercialization efforts
- Funding sources for the fund include direct state appropriations, Florida Opportunity Fund investments, private sector investments and venture capital, and international contributions from foreign industry development organizations or innovation authorities
- Eligible projects must involve at least one Florida-based aerospace company or organization and at least one international partner such as an international aerospace company, university, space agency, or research institute, and must demonstrate commercialization potential
- Funding must be competitively awarded based on merit, evaluated by a panel of aerospace experts established by Space Florida, through a formal application process
- Space Florida is authorized to negotiate and enter into bilateral agreements covering co-funding commitments, intellectual property rights, and collaboration terms with countries that have robust aerospace sectors; effective date is July 1, 2025
Legislative Description
Aerospace Industry
Last Action
Chapter No. 2025-154
6/23/2025
Committee Referrals
Fiscal Policy3/27/2025
Appropriations Subcommittee on Transportation, Tourism, and Economic Development3/19/2025
Full Bill Text
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