The bill amends chapter 2005-346, Laws of Florida, specifically concerning the Downtown Development Authority (DDA) of the City of Fort Lauderdale. It removes the previously established expiration date of December 31, 2030, for the DDA, thereby allowing it to continue operating indefinitely. The bill also clarifies the process for the transfer of assets upon the dissolution of the authority, stating that all assets must be transferred to the city before the dissolution date, and any remaining assets will automatically become the property of the city.

Additionally, the bill ensures that if there is any outstanding indebtedness against the authority at the time of dissolution, the city retains the right to levy taxes necessary to retire that debt. This legislative change underscores the importance of the DDA in the ongoing development and representation of the Downtown Fort Lauderdale community, reflecting its significant contributions over the past five decades. The act will take effect upon becoming law.