The proposed bill introduces a new section, 163.3249, to the Florida Statutes, establishing a framework for "blue ribbon projects" aimed at balancing environmental conservation with sustainable community development and job creation. To qualify, a project must cover at least 15,000 contiguous acres, with a minimum of 60% designated for environmental reserves. The bill sets specific development requirements, including a maximum residential density of 12 units per gross acre and mandates that at least 20% of residential units be affordable or classified as "missing middle housing." Additionally, the development must be phased, with vested rights and impact mitigation lasting for 50 years, extendable under certain conditions.

The bill outlines the creation of a "blue ribbon plan," which includes essential documents such as a master development map and plans for water supply and transportation. Local governments are responsible for reviewing these plans, with a presumption of consistency with local comprehensive plans, and must conduct two public hearings for each application. The approved blue ribbon plan will govern property use, superseding existing comprehensive plan requirements, and can be located on land with any future land use designation. An appeal process is established for denied applications, allowing for court action without a deferential standard for local governments. The bill emphasizes compliance with environmental regulations and is set to take effect on July 1, 2026.