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. The new legal language specifies that upon the dissolution of the authority, all assets must be transferred to the city, and any remaining assets at the time of dissolution will automatically become the property of the city. This change reflects the ongoing importance of the DDA in the community and its role in supporting downtown development.

Additionally, the bill clarifies that in the event of any outstanding indebtedness against the authority, the city may continue to levy the necessary taxes to retire such debts. The act is set to take effect upon becoming law, ensuring the DDA can continue its operations without a predetermined termination date.