STORAGE NAME: h0793.TED
DATE: 3/18/2025
1
FLORIDA HOUSE OF REPRESENTATIVES
BILL ANALYSIS
This bill analysis was prepared by nonpartisan committee staff and does not constitute an official statement of legislative intent.
BILL #: HB 793
TITLE: Aerospace Innovation Funding
SPONSOR(S): Kendall
COMPANION BILL: SB 1516 (Wright)
LINKED BILLS: None
RELATED BILLS: None
Committee References
Transportation & Economic
Development Budget
Housing, Agriculture & Tourism
Budget
SUMMARY
Effect of the Bill:
The bill creates the International Aerospace Innovation Fund (IAIF), administered by Space Florida, to provide a
framework to accelerate global aerospace innovation by funding collaborative research and development projects,
workforce development initiatives, and commercialization efforts.
Fiscal or Economic Impact:
The bill provides no specific appropriations and has no fiscal impact on the state.
JUMP TO SUMMARY ANALYSIS RELEVANT INFORMATION BILL HISTORY
ANALYSIS
EFFECT OF THE BILL:
The bill establishes the International Aerospace Innovation Fund (IAIF), administered by Space Florida. The IAIF is
established to accelerate global aerospace innovation by funding collaborative research and development projects,
workforce development initiatives, and commercialization efforts.
The bill directs the IAIF to:
Develop partnerships between Florida-based aerospace companies and international aerospace
companies.
Drive innovation in critical technology areas, such as space exploration, advanced manufacturing, and
space infrastructure.
Attract global investment in Florida’s aerospace ecosystem.
The bill requires Space Florida to secure funding for the IAIF, received from:
The state, in the form of direct appropriations to Space Florida for purposes of the IAIF, investment by the
Florida Opportunity Fund, and any other investment, loan, or grant funds for which projects of the IAIF
qualify.
Private sector investments. Space Florida may solicit matching funds from and partner with private
aerospace companies and venture capital funds.
International contributions. To the extent permitted under state law, Space Florida may collaborate with
foreign space agencies or innovation authorities to co-fund IAIF projects.
The bill requires Space Florida to develop eligibility criteria for projects that may be funded by the IAIF, including:
The project must involve at least one aerospace company or organization that is based in Florida.
The project must be a partnership that involves at least one of the following: JUMP TO SUMMARY ANALYSIS RELEVANT INFORMATION BILL HISTORY
2
- An international aerospace company;
- A university; or
- A space agency.
The bill specifies that the project must be intended, and have demonstrated potential, for commercialization.
Funding must be competitively awarded to eligible projects based on merit. Space Florida must establish a panel of
international aerospace experts to evaluate and recommend projects. An application process must be established
by Space Florida for projects seeking funding by the IAIF.
The bill provides that Space Florida must identify and establish partnerships, to the extent possible, with countries
that have robust aerospace sectors. Space Florida may negotiate and enter into bilateral agreements for the
establishment of co-funding commitments, intellectual property rights, and collaboration terms. (Section 3).
The effective date of the bill is July 1, 2025. (Section 4).
FISCAL OR ECONOMIC IMPACT:
STATE GOVERNMENT:
The bill provides no specific appropriations and has no fiscal impact on the state. The creation of the fund would
enhance the ability of Space Florida to work with the private sector and solicit private sector investments, venture
capital funds, international contributions, grants, or other investments to support business development and
commercialization of IAIF projects. Space Florida maintains existing resources which can also be utilized in
conjunction with private investment to foster global partnerships.
LOCAL GOVERNMENT:
None.
PRIVATE SECTOR:
The bill may have a positive impact on the aerospace industry in Florida, as a result of private sector investment
and international contributions in the IAIF.
RELEVANT INFORMATION
SUBJECT OVERVIEW:
Space Florida
The Legislature passed the Space Florida Act in 2006,
1 which consolidated Florida’s three existing space entities,
Florida Space Authority, Florida Space Research Institute, and Florida Aerospace Finance Corporation, into a single
entity called Space Florida.
2 Space Florida is established as an independent special district, a body politic and
corporate, and a subdivision of the state. Space Florida is subject to the provisions of the Uniform Special District
Accountability Act, which governs issues like operations, financial reporting, taxation, assessments, elections,
compliance with general law, and comprehensive planning.
The Space Florida Board of Directors is comprised of 10 members, including experts in airport authority and
aircrafts, the Secretary of Florida Department of Environmental Protection, and the Secretary of the Florida
Department of Transportation. These members are appointed by the Governor, President of the Senate, and
Speaker of the House of Representatives. The Governor or Governor’s designee also serves on the Board as a voting
member.
3
1 Chapter 2006-60, Laws of Fla.
2 See ss. 331.301 through 331.371, F.S.
3 Space Florida, Board of Directors, (2024), https://www.spaceflorida.gov/board-of-directors (last visited March 14, 2025). JUMP TO SUMMARY ANALYSIS RELEVANT INFORMATION BILL HISTORY
3
Space Florida’s objectives include supporting the growth and development of a sustainable aerospace industry in
Florida. Space Florida acts as Florida’s point of contact for state aerospace-related activities with federal agencies,
the military, state agencies, businesses, and the private sector.
4 Space Florida is authorized to purchase or
construct facilities, set rates, fees, and charges for the use of facilities, and undertake joint financing with
municipalities or private sector entities for any project.
5
According to Space Florida’s 2024 Annual Operations Report, as of June 30, 2024, Space Florida had 161 total
projects in development with an estimated value of $5.6 billion in capital investment. This estimated value has
almost doubled since 2021.
6
Powers of Space Florida
Space Florida is given certain powers, including, but not limited to:
7
Using a corporate seal;
Using patents, copyrights, and trademarks;
Lending and investing money;
Acquiring certain properties;
Executing contracts;
Issuing revenue bonds;
Making expenditures for entertainment and travel expenses and business clients, guests, and other
authorized persons; and
Fixing and collecting fees, loan payments, rental payments, and other charges in connection with financing
agreements.
Duties of Space Florida
To implement the Space Florida Act and carry out spaceport operations, Space Florida is given certain duties,
including, but not limited to, creating a business plan, entering into agreements and cooperating with other state
agencies, and consulting with appropriate federal agencies.
8
Specifically, Space Florida is required to:
Enter into agreements with the Department of Education, the Department of Transportation (DOT), the
Department of Commerce, and CareerSource Florida.
9
In cooperation with the Department of Commerce, collaborate to develop a plan to retain, expand, attract,
and create aerospace industry entities, public or private, which results in the creation of high-value-added
businesses and jobs in Florida.
10
Develop, in cooperation with the Department of Commerce, a plan to provide financing assistance to
aerospace businesses.
11
Carry out its responsibilities for spaceport operations by:
12
- Seeking federal support and developing partnerships to renew and upgrade the infrastructure and
technologies at the Cape Canaveral Air Force Station, the John F. Kennedy Space Center, and the
Eastern Range.
- Supporting federal efforts to clarify roles and responsibilities of federal agencies in an effort to
streamline access for commercial launch users.
- Pursuing the development of commercial spaceports in the state in partnership with counties or
municipalities, the Federal Government, or private entities.
4 Section 331.3011, F.S.
5 Section 331.305, F.S.
6 Space Florida, Annual Report Trajectories, (2024), https://cdn.prod.website-
files.com/66c8a3fe36eef11411f2b1ef/674749d0769077b041d100ff_Annual-Report-2024-Final_compressed.pdf (last visited March 14,
2025).
7 Section 331.305, F.S.
8 Section 331.3051, F.S.
9 Section 331.3051(2), F.S.
10 Section 331.3051(3), F.S.
11 Section 331.3051(6), F.S.
12 Section 331.3051(7), F.S. JUMP TO SUMMARY ANALYSIS RELEVANT INFORMATION BILL HISTORY
4
- Promoting and facilitating launch activity within the state by supporting and assisting commercial
launch operators’ interactions with federal agencies for launching from Florida.
- Consulting, as necessary, with the appropriate federal, state, and local authorities, including the
National Aeronautics and Space Administration, Federal Aviation Administration, Department of
Defense, DOT, Florida National Guard, and industry on establishing and operating spaceport
infrastructure and facilities in the state.
Space Florida Funding
Space Florida maintains a recurring budget of $17.5 million, averaging total appropriations of $21.0 million
annually. This includes an average of $6.0 million dedicated to financing business development and fostering
partnerships and collaboration in the Florida aerospace industry.
Space Florida states that expanding investment opportunities to include foreign entities would tap into the global
aerospace market, potentially enhancing Florida’s return on investment.
13 Since its inception in 2013, Space
Florida has received $1.0 million in annual recurring funds to support the Space Florida-Israel Innovation
Partnership. Together with its capital accelerator programs, these initiatives have generated over $800 million in
capital to the state's aerospace sector.
14 The Space Florida-Israel Innovation Partnership has facilitated over $22
million in joint research and development funding, strengthening economic and strategic ties between Florida and
Israeli aerospace companies. This collaboration supports the development of aerospace technologies with
significant potential across industries such as defense, transportation, and infrastructure, helping both Florida and
Israel maintain leadership in aerospace innovation among growing global competition.
1516
BILL HISTORY
COMMITTEE REFERENCE ACTION DATE
STAFF
DIRECTOR/
POLICY CHIEF
ANALYSIS
PREPARED BY
Transportation & Economic
Development Budget
Subcommittee
Davis Andeara
Housing, Agriculture & Tourism
Subcommittee
Budget Committee
13 Email from Lindsay Pierce, Director of Government Relations & External Affairs, Space Florida, RE: HB 793, (March 5, 2025).
14 Email from Lindsay Pierce, Director of Government Relations & External Affairs, Space Florida, RE: HB 793, (March 5, 2025).
15 Space Florida, Israel Innovation Authority Partnership,
16 Space Florida, Annual Report Trajectories, (2024), https://cdn.prod.website-
files.com/66c8a3fe36eef11411f2b1ef/674749d0769077b041d100ff_Annual-Report-2024-Final_compressed.pdf (last visited March 14,
2025).