The bill proposes the creation of a new section, 351.41, in the Florida Statutes, which authorizes the Governor to execute a rapid rail transit compact with the states of Alabama, Louisiana, and Mississippi. This compact aims to study the feasibility of establishing rapid rail transit service between these states and to form a joint interstate commission to facilitate this effort. The compact includes provisions for the governance structure of the commission, which will consist of representatives from each state, including the Governor and appointed citizens. The commission will have the authority to conduct studies, hold hearings, and acquire funding to support its functions.

Additionally, the bill outlines that the compact will become effective once ratified by the involved states and approved by Congress. It emphasizes that participation in the compact does not obligate Florida to allocate state funds for rail infrastructure, while also highlighting the potential economic and connectivity benefits of passenger rail service. The act is set to take effect on July 1, 2025.