A Florida Senate motion filed Thursday seeks to strengthen the state’s television and film-production industry.
Sen. Aaron Bean filed SB 1438, known as the “Qualified Television Loan Fund,” that sets up a 10-year $20 million trust within the state’s Department of Economic Opportunity for the development of private, made-for-TV content produced in Florida.
The fund would provide loans for production companies creating content for major networks, cable channels or Internet streaming.
If passed, the DEO would hire a fund administrator to allocate the funds based on a number of criteria including” creditworthiness of the project, the producer’s track record, (and) the possibility that the project will encourage, enhance, or create economic benefits.”
The proposal follows other measures in the Legislature to extend tax incentives for bringing filmmakers to Florida.
One House bill HB 983 gives up to $1 billion in tax credits to attract film and television production in Florida, and the Senate Commerce and Tourism Committee is considering SPB 7056, to offer $300 million in tax credits. Each proposal would be spread out over six years.