The bill proposes the establishment of the Florida Museum of History in the Town of Eatonville, which is recognized as the oldest Black incorporated municipality in the United States. It authorizes a partnership between the Department of State, the Orange County Commission, the Orange County public school system, and the University of Central Florida to design, construct, operate, and manage the museum. The museum is required to have at least 100,000 square feet of exhibition space, a performing arts center, a banquet facility, and various other features to support its mission as a multipurpose cultural arts and history museum. An advisory board will be formed to provide expertise in design and operations, while the governing board will oversee the museum's development and ensure that a significant portion of the exhibition space is dedicated to Florida's history.

Additionally, the bill outlines funding mechanisms for the museum's construction and operations, including state appropriations of up to $75 million, matched by local funds and philanthropic contributions. It mandates the creation of an endowment to support the museum's collections and operations, and requires the governing board to develop a marketing plan in collaboration with local tourism organizations. The museum is also tasked with providing educational materials that highlight the contributions of African Americans in Florida's history. The act is set to take effect on July 1, 2025.