CS/HB 793 2025
CODING: Words stricken are deletions; words underlined are additions.
hb793-01-c1
Page 1 of 5
F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
A bill to be entitled 1
An act relating to aerospace innovation funding; 2
amending s. 331.3051, F.S.; requiring Space Florida to 3
administer the International Aerospace Innovation 4
Fund; amending s. 331.310, F.S.; conforming a cross -5
reference; creating s. 331.372, F.S.; establishing the 6
International Aerospace Innovation Fund; providing the 7
purpose and duties of the fund; requiring Space 8
Florida to secure funding from certain sources; 9
requiring Space Florida to develop certain eligibility 10
criteria; providing requirements for such eligibility 11
criteria; requiring that funding be awarded in a 12
certain manner; requiring Space Florida to establish a 13
certain panel; requiring Space Florida to estab lish an 14
application process for projects seeking funding from 15
the fund; requiring Space Florida to identify and 16
establish certain partnerships; authorizing Space 17
Florida to negotiate and enter into bilateral 18
agreements for certain purposes; providing an 19
effective date. 20
21
Be It Enacted by the Legislature of the State of Florida: 22
23
Section 1. Present subsections (15) and (16) of section 24
331.3051, Florida Statutes, are redesignated as subsections (16) 25
CS/HB 793 2025
CODING: Words stricken are deletions; words underlined are additions.
hb793-01-c1
Page 2 of 5
F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
and (17), respectively, and a new subsection (15) is added to 26
that section, to read: 27
331.3051 Duties of Space Florida. —Space Florida shall: 28
(15) Administer the International Aerospace Innovation 29
Fund established under s. 331.372. 30
Section 2. Paragraph (e) of subsection (2) of section 31
331.310, Florida Statutes, is amended to read: 32
331.310 Powers and duties of the board of directors. — 33
(2) The board of directors shall: 34
(e) Prepare an annual report of operations as a supplement 35
to the annual report required under s. 331.3051(17) s. 36
331.3051(16). The report must include, but not be limited to, a 37
balance sheet, an income statement, a statement of changes in 38
financial position, a reconciliation of changes in equity 39
accounts, a summary of significant accounting principles, the 40
auditor's report, a summary of the status of existing and 41
proposed bonding projects, comments from management about the 42
year's business, and prospects for the next year. 43
Section 3. Section 331.372, Florida Statutes, is created 44
to read: 45
331.372 International Aerospace Innovation Fund.— 46
(1) The International Aerospace Innovation Fund is 47
established to accelerate global aerospace innovation by funding 48
collaborative research and development projects, workforce 49
development initiatives, and commercialization efforts. The 50
CS/HB 793 2025
CODING: Words stricken are deletions; words underlined are additions.
hb793-01-c1
Page 3 of 5
F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
International Aerospace Innovation Fund shall be administered by 51
Space Florida. 52
(2) The International Aerospace Innovation Fund shall: 53
(a) Develop partnerships between Florida -based aerospace 54
companies and international aerospace companies. 55
(b) Drive innovation in critical technology areas related 56
to aerospace as defined in s. 331.303, including, but not 57
limited to, space exploration, advanced manufacturing, and space 58
infrastructure. 59
(c) Attract global investment in this state's aerospace 60
ecosystem. 61
(3) Space Florida shall secure funding for the 62
International Aerospace Innovation Fund. Funding may be received 63
from: 64
(a) The state, in the form of direct appropriations to 65
Space Florida for purposes of the International Aerospace 66
Innovation Fund, investment by the Florida Opportunity Fund, and 67
any other investment, loan, or grant funds for which projects of 68
the International Aerospace Innovation Fund qualify. 69
(b) Private sector investments. Space Florida may solicit 70
matching funds from and partner with private aerospace companies 71
and venture capital funds. 72
(c) International contributions. To the extent permitted 73
under state law, Space Florida may collaborate with foreign 74
industry development organizations or innovation authorities to 75
CS/HB 793 2025
CODING: Words stricken are deletions; words underlined are additions.
hb793-01-c1
Page 4 of 5
F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
co-fund International Aer ospace Innovation Fund projects. 76
(4)(a) Space Florida shall develop eligibility criteria 77
for projects that may be funded by the International Aerospace 78
Innovation Fund. The eligibility criteria must include, but are 79
not limited to, all of the following: 80
1. The project must involve at least one aerospace company 81
or organization that is based in this state. 82
2. The project must be a partnership that involves at 83
least one of the following: 84
a. An international aerospace company. 85
b. A university. 86
c. A space agency. 87
d. A research institute. 88
3. The project must be intended, and have demonstrated 89
potential, for commercialization. 90
(b) Funding must be competitively awarded to eligible 91
projects based on merit. Space Florida shall establish a panel 92
of aerospace experts to evaluate and recommend projects. 93
(c) Space Florida shall establish an application process 94
for projects seeking funding by the International Aerospace 95
Innovation Fund. 96
(5) Space Florida shall identify and establish 97
partnerships, to the extent possible, with countries that have 98
robust aerospace sectors. 99
(6) Space Florida may negotiate and enter into bilateral 100
CS/HB 793 2025
CODING: Words stricken are deletions; words underlined are additions.
hb793-01-c1
Page 5 of 5
F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
agreements for the purposes of this section, which may include, 101
but are not limited to, the establishment of co -funding 102
commitments, intellectual property rights, and collaboration 103
terms. 104
Section 4. This act shall take effect July 1, 2025. 105