The proposed bill, titled the "Florida Veterans and Military Spouse Business Development Act," aims to support business development for veterans and military spouses in Florida. It establishes a new section in the Florida Statutes, specifically section 295.189, which outlines the legislative intent to attract and support veteran-owned and military spouse-owned businesses through various incentives. The bill defines key terms, including "military spouse" and "veteran," and sets forth eligibility criteria for businesses to qualify for fee waivers.

Under the bill, the Department of State is required to waive all fees for new businesses established by veterans or military spouses, as well as for existing businesses that relocate to Florida. The fee waivers will apply to businesses established or certified between July 1, 2025, and June 30, 2030. Additionally, the Department of Veterans' Affairs and the Department of State will collaborate to develop rules for administering the program and will provide annual reports detailing the impact of these businesses on the state's economy, including job creation and tax revenue. The act is set to take effect on July 1, 2025.