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 to the Department of Business and Professional Regulation. Additionally, these agents are required to pay an annual renewal fee, also capped at $2,500. The existing subsections of the law are renumbered accordingly, and the language regarding the establishment of fees is modified to reflect these new requirements.

Furthermore, the bill modifies the language in subsection (1) to clarify that the department will set biennial fees for licensing and renewals, which cannot exceed $400, while allowing for a delinquency fee of up to $50. The amendments also change the wording from "shall" to "may" and "must" to ensure that the fees are adequate to cover the department's regulatory expenses. The act is contingent upon the passage of SB 1584 or similar legislation within the same legislative session.