The bill establishes 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 rapid rail transit service between these states and Florida, and to create 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 Governors and appointed citizens. The commission will be responsible for conducting studies, holding hearings, and acquiring necessary funding to support its functions.

Additionally, the compact allows for the potential inclusion of other contiguous states and outlines the process for states to withdraw from the agreement. The bill emphasizes the benefits of passenger rail service, including economic development, improved connectivity, and enhanced emergency response capabilities. The act is set to take effect on July 1, 2025.