The bill amends section 468.404 of the Florida Statutes to establish specific fees for agents representing student athletes. It introduces a new subsection (2) that mandates agents to pay an initial application fee not to exceed $2,500 and an annual renewal fee, also capped at $2,500. Additionally, the bill modifies subsection (1) to clarify that the Department of Business and Professional Regulation will set biennial fees for licensing and renewals, which cannot exceed $400, and allows for a delinquency fee of up to $50.

The bill also includes language changes, replacing "shall" with "may" and "must" in certain contexts to provide more flexibility in fee establishment. The effective date of the act is contingent upon the passage of SB 1584 or similar legislation within the same legislative session or an extension thereof.