The bill amends chapter 2005-346, Laws of Florida, specifically concerning the Downtown Development Authority (DDA) of the City of Fort Lauderdale. The key change is the removal of the expiration date of December 31, 2030, which previously mandated the dissolution of the DDA. Instead, the bill establishes that the authority will continue to operate indefinitely unless dissolved according to law. Additionally, it clarifies the process for transferring the DDA's assets upon dissolution, ensuring that all assets will be transferred to the city at that time.

Furthermore, the bill stipulates that any remaining assets in the DDA's possession at the time of dissolution will automatically become the property of the city. It also allows the city to levy taxes necessary to retire any outstanding indebtedness against the authority. This legislative change underscores the importance of the DDA in supporting the growth and development of Downtown Fort Lauderdale and aims to provide a more stable framework for its continued operation and asset management.