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, thereby joining the Southern Rail Commission (SRC). The compact aims to study the feasibility of establishing rapid rail transit service between these states and to create a joint interstate commission to facilitate this effort. The bill outlines the structure and responsibilities of the commission, including the appointment of members, the conduct of studies, and the ability to acquire funding for its operations.

Additionally, the compact stipulates that each party state may contribute funds for the commission's establishment and operation, although there is no obligation for any state to make a specific appropriation. The compact will remain in effect until a state decides to withdraw, with a six-month notice period required for such action. The bill is set to take effect on July 1, 2026.