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Committee advances international aerospace innovation fund bill for Space Florida
Summary
CS for SB 1516, which would establish an International Aerospace Innovation Fund administered by Space Florida to foster international partnerships and fund aerospace projects, was reported favorably by the committee.
The Appropriations Committee on Transportation, Tourism and Economic Development reported favorably CS for Senate Bill 1516, a measure to create the International Aerospace Innovation Fund (IAIF) to be administered by Space Florida.
Sponsor Senator Wright told the committee the IAIF would develop partnerships between Florida‑based aerospace companies and international firms, with potential funding sources including state dollars, private sector investments and international contributions. The bill requires Space Florida to develop application and eligibility criteria for projects seeking IAIF funding.
Supporters that filed appearance forms included the Florida Chamber of Commerce and Space Florida. Senator Wright waived closing remarks, and the clerk called the roll; the committee reported the bill favorably to the next stage.
