Bill > H0061

This bill establishes a "qualified television revolving loan fund" (QTV Fund) to support the production of television content in Florida, creating a public-private partnership where a private entity, the "fund administrator," will manage the fund under state oversight. The fund administrator, selected through a competitive bidding process, will be responsible for administering loans to production companies for qualified television content, which includes series, miniseries, or made-for-TV productions with distribution contracts from "major broadcasters" (like networks, cable, or streaming services) and meeting specific production and budget criteria, excluding obscene content. The QTV Fund itself is a revolving loan fund, meaning repaid principal and interest will be reinvested in new loans, and state funds will be managed separately from any "private investment capital" or loans from "qualified lending partners" (financial institutions with expertise in media financing). Loans from the QTV Fund will be secured by anticipated revenues from broadcast license agreements and other media rights, will not exceed 36 months in duration, and will be subordinated to senior loans from qualified lending partners, covering no more than 30% of a project's total production cost. The bill also mandates that the Auditor General can conduct operational audits of the fund and its administrator, allows the Department of Economic Opportunity (DEO) to adopt rules for the program, and sets an expiration date for the loan program on December 31, 2026, with any remaining funds reverting to the General Revenue Fund. Additionally, it revises the schedule for the Office of Program Policy Analysis and Government Accountability (OPPAGA) to analyze economic development programs, now including the qualified television loan fund in its evaluations.