The bill amends chapter 2005-346 of the Laws of Florida to remove the expiration date of the Downtown Development Authority (DDA) of the City of Fort Lauderdale, which was previously set for December 31, 2030. This change acknowledges the DDA's significant role in the growth and development of Downtown Fort Lauderdale over the past five decades, including its contributions to public amenities and community issues such as transportation and affordable housing.

Additionally, the bill provides for the transfer of the DDA's assets to the city upon its dissolution, ensuring that any remaining assets will automatically become the property of the city. The language specifies that the transfer of assets must occur on or before the dissolution date, and it allows the city to levy taxes to address any outstanding indebtedness against the authority. The act will take effect upon becoming law.