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SB 1516

ID CARD-VICTIM WAIVER

104th Regular Session Introduced by Willie Preston and 1 co-sponsor

Florida creates the International Aerospace Innovation Fund (IAIF) run by Space Florida to fund international aerospace R&D, workforce development, and commercialization.

Added as Co-Sponsor Sen. Willie Preston
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Bill Summary · SB 1516

SB 1516 — International Aerospace Innovation Fund (summary)

Note: The underlying bill text and committee reports supplied concern a Florida measure (introduced by Senator Wright) that creates an international aerospace fund administered by Space Florida. This summary reflects that Florida SB 1516 (introduced Feb. 21, 2025).

Purpose / Intent

Establish the International Aerospace Innovation Fund (IAIF) to accelerate aerospace innovation in Florida by funding collaborative R&D, workforce development, and commercialization activities that connect Florida-based aerospace entities with international partners and attract global investment.

Key provisions

  • Creates the International Aerospace Innovation Fund (IAIF), to be administered by Space Florida.
  • Directs Space Florida to solicit and secure funding for the IAIF; acceptable sources include state appropriations, private-sector investments, and international contributions.
  • Requires development of project eligibility criteria and a competitive, merit‑based application and award process.
  • Establishes a panel of experts (to be appointed by Space Florida) to evaluate and recommend projects for funding.
  • Requires Space Florida to identify and establish partnerships with countries that have robust aerospace sectors and authorizes Space Florida to negotiate and enter into bilateral agreements related to the IAIF.
  • Targets funding toward collaborative projects with demonstrated commercialization potential, plus workforce development and commercialization activities in critical aerospace technology areas.
  • Effective date: July 1, 2025.

Minimum eligibility (explicit)

At a minimum, an IAIF-funded project must:
- Involve at least one aerospace company or organization based in Florida; and
- Be a partnership that includes an international aerospace company, a university, a space agency, or a research institute; and
- Be intended for, and demonstrate potential for, commercialization.

Administration & process

  • Space Florida must develop application procedures, eligibility standards, and convene a panel of subject‑matter experts to score and recommend awards.
  • Funding awards are to be competitive and merit‑based.
  • Space Florida may negotiate bilateral agreements with foreign partners to implement IAIF activities.

Fiscal impact

  • The fiscal note and committee analyses state the bill may have an indeterminate fiscal impact. IAIF funding depends on amounts secured from state, private, or international sources.

Who is affected / likely beneficiaries

  • Space Florida (administrator and implementer)
  • Florida-based aerospace companies, research institutions, universities, and startups
  • International aerospace firms, foreign research partners, and space agencies participating in funded projects
  • Florida workforce development programs tied to aerospace skills training
  • Potential increase in private and foreign investment into Florida’s aerospace ecosystem

Procedural status (high level)

  • Introduced Feb. 21, 2025; reported favorably by relevant Senate committees (Military & Veterans Affairs, Space & Domestic Security; Appropriations — Transportation, Tourism & Economic Development; Fiscal Policy).
  • Co‑sponsor added: Sen. Willie Preston (Apr. 4, 2025).
  • Bill takes effect July 1, 2025 (per text).

Compiled from official sources — confirm details with the bill’s official record.

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