FL
Florida House Bill H0793

Florida 2025 Regular Session

Florida House Bill H0793 Compare Versions

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1010 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
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1414 A bill to be entitled 1
1515 An act relating to aerospace innovation funding ; 2
1616 amending s. 331.3051, F.S.; requiring Space Florida to 3
1717 administer the International Aerospace Innovation 4
1818 Fund; amending s. 331.310, F.S.; conforming a cross -5
1919 reference; creating s. 331.372, F.S.; establishing the 6
2020 International Aerospace Innovation Fund; providing the 7
2121 purpose and duties of the fund; requiring Space 8
2222 Florida to secure funding from certain sources; 9
2323 requiring Space Florida to develop certain eligibility 10
2424 criteria; providing requirements for such eligibility 11
2525 criteria; requiring that funding be awarded in a 12
2626 certain manner; requiring Space Florida to establish a 13
2727 certain panel; requiring Space Florida to estab lish an 14
2828 application process for projects seeking funding from 15
2929 the fund; requiring Space Florida to identify and 16
3030 establish certain partnerships; authorizing Space 17
3131 Florida to negotiate and enter into bilateral 18
3232 agreements for certain purposes; providing an 19
3333 effective date. 20
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3535 Be It Enacted by the Legislature of the State of Florida: 22
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3737 Section 1. Present subsections (15) and (16) of section 24
3838 331.3051, Florida Statutes, are redesignated as subsections (16) 25
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4747 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
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5151 and (17), respectively, and a new subsection (15) i s added to 26
5252 that section, to read: 27
5353 331.3051 Duties of Space Florida. —Space Florida shall: 28
5454 (15) Administer the International Aerospace Innovation 29
5555 Fund established under s. 331.372. 30
5656 Section 2. Paragraph (e) of subsection (2) of section 31
5757 331.310, Florida Statutes, is amended to read: 32
5858 331.310 Powers and duties of the board of directors. — 33
5959 (2) The board of directors shall: 34
6060 (e) Prepare an annual report of operations as a supplement 35
6161 to the annual report required under s. 331.3051(17) s. 36
6262 331.3051(16). The report must include, but not be limited to, a 37
6363 balance sheet, an income statement, a statement of changes in 38
6464 financial position, a reconciliation of changes in equity 39
6565 accounts, a summary of significant accounting principles, the 40
6666 auditor's report, a summar y of the status of existing and 41
6767 proposed bonding projects, comments from management about the 42
6868 year's business, and prospects for the next year. 43
6969 Section 3. Section 331.372, Florida Statutes, is created 44
7070 to read: 45
7171 331.372 International Aerospace Innovati on Fund.— 46
7272 (1) The International Aerospace Innovation Fund is 47
7373 established to accelerate global aerospace innovation by funding 48
7474 collaborative research and development projects, workforce 49
7575 development initiatives, and commercialization efforts. The 50
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8484 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
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8888 International Aerospace Innovation Fund shall be administered by 51
8989 Space Florida. 52
9090 (2) The International Aerospace Innovation Fund shall: 53
9191 (a) Develop partnerships between Florida -based aerospace 54
9292 companies and international aerospace companies. 55
93- (b) Drive innovation in critical technology areas related 56
94-to aerospace as defined in s. 331.303, including, but not 57
95-limited to, space exploration, advanced manufacturing, and space 58
96-infrastructure. 59
97- (c) Attract global investment in this state's aerospace 60
98-ecosystem. 61
99- (3) Space Florida shall secure funding for the 62
100-International Aerospace Innovation Fund. Funding may be received 63
101-from: 64
102- (a) The state, in the form of direct appropriations to 65
103-Space Florida for purposes of the International Aerospace 66
104-Innovation Fund, investment by the Florida Opportunity Fund, and 67
105-any other investment, loan, or grant funds for which projects of 68
106-the International Aerospace Innovation Fund qualify. 69
107- (b) Private sector investments. Space Florida may solicit 70
108-matching funds from and partner with private aerospace companies 71
109-and venture capital funds. 72
110- (c) International contributions. To the extent permitted 73
111-under state law, Space Florida may collaborate with foreign 74
112-industry development organizations or innovation authorities to 75
93+ (b) Drive innovation in critical technology areas, such as 56
94+space exploration, advanced manufacturing, and space 57
95+infrastructure. 58
96+ (c) Attract global investment in this state's aerospace 59
97+ecosystem. 60
98+ (3) Space Florida shall secure funding for the 61
99+International Aerosp ace Innovation Fund. Funding may be received 62
100+from: 63
101+ (a) The state, in the form of direct appropriations to 64
102+Space Florida for purposes of the International Aerospace 65
103+Innovation Fund, investment by the Florida Opportunity Fund, and 66
104+any other investment, loa n, or grant funds for which projects of 67
105+the International Aerospace Innovation Fund qualify. 68
106+ (b) Private sector investments. Space Florida may solicit 69
107+matching funds from and partner with private aerospace companies 70
108+and venture capital funds. 71
109+ (c) International contributions. To the extent permitted 72
110+under state law, Space Florida may collaborate with foreign 73
111+space agencies or innovation authorities to co -fund 74
112+International Aerospace Innovation Fund projects. 75
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121121 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
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125-co-fund International Aer ospace Innovation Fund projects. 76
126- (4)(a) Space Florida shall develop eligibility criteria 77
127-for projects that may be funded by the International Aerospace 78
128-Innovation Fund. The eligibility criteria must include, but are 79
129-not limited to, all of the following: 80
130- 1. The project must involve at least one aerospace company 81
131-or organization that is based in this state. 82
132- 2. The project must be a partnership that involves at 83
133-least one of the following: 84
134- a. An international aerospace company. 85
135- b. A university. 86
136- c. A space agency. 87
137- d. A research institute. 88
138- 3. The project must be intended, and have demonstrated 89
139-potential, for commercialization. 90
140- (b) Funding must be competitively awarded to eligible 91
141-projects based on merit. Space Florida shall establish a panel 92
142-of aerospace experts to evaluate and recommend projects. 93
143- (c) Space Florida shall establish an application process 94
144-for projects seeking funding by the International Aerospace 95
145-Innovation Fund. 96
146- (5) Space Florida shall identify and establish 97
147-partnerships, to the extent possible, with countries that have 98
148-robust aerospace sectors. 99
149- (6) Space Florida may negotiate and enter into bilateral 100
125+ (4)(a) Space Florida shall develop eligibili ty criteria 76
126+for projects that may be funded by the International Aerospace 77
127+Innovation Fund. The eligibility criteria must include, but are 78
128+not limited to, all of the following: 79
129+ 1. The project must involve at least one aerospace company 80
130+or organization that is based in this state. 81
131+ 2. The project must be a partnership that involves at 82
132+least one of the following: 83
133+ a. An international aerospace company. 84
134+ b. A university. 85
135+ c. A space agency. 86
136+ 3. The project must be intended, and have demonstrated 87
137+potential, for commercialization. 88
138+ (b) Funding must be competitively awarded to eligible 89
139+projects based on merit. Space Florida shall establish a panel 90
140+of international aerospace experts to evaluate and recommend 91
141+projects. 92
142+ (c) Space Florida shall establish an application process 93
143+for projects seeking funding by the International Aerospace 94
144+Innovation Fund. 95
145+ (5) Space Florida shall identify and establish 96
146+partnerships, to the extent possible, with countries that have 97
147+robust aerospace sectors. 98
148+ (6) Space Florida m ay negotiate and enter into bilateral 99
149+agreements for the purposes of this section, which may include, 100
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158158 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
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162-agreements for the purposes of this section, which may include, 101
163-but are not limited to, the establishment of co -funding 102
164-commitments, intellectual property rights, and collaboration 103
165-terms. 104
166- Section 4. This act shall take effect July 1, 2025. 105
162+but are not limited to, the establishment of co -funding 101
163+commitments, intellectual property rights, and collaboration 102
164+terms. 103
165+ Section 4. This act shall take effect July 1, 2025. 104