Bill > S1646

This bill makes several changes to Florida's economic development laws, primarily focusing on promoting the sports and entertainment industries and refining tax incentives. It requires the Department of Economic Opportunity (DEO) to contract with a direct-support organization, the Florida Sports Foundation, to promote the state's sports industry, encourage resident participation in athletic competitions, and market Florida as a host for amateur athletic events. The bill also mandates that the Office of Economic and Demographic Research and the Office of Program Policy Analysis and Government Accountability analyze the retention of Major League Baseball (MLB) spring training franchises and that the Office of Economic and Demographic Research establish guidelines for calculating economic benefits. Additionally, it modifies definitions and provisions related to various tax credits and refunds, including those for capital investment, research and development, and target industry businesses, while also restructuring the film and entertainment industry promotion by moving its oversight to Enterprise Florida, Inc. and renaming relevant divisions and funds. The bill also repeals a section related to the International Game Fish Association World Center facility and makes adjustments to funding distribution for sports facilities and spring training franchises.