The bill establishes the Florida Stablecoin Pilot Program within the Department of Financial Services, aimed at allowing the use of payment stablecoins for governmental fees. It outlines the legislative intent, definitions, and authorizes the department to engage in various activities related to payment stablecoins, including designating specific stablecoins for use, accepting them as payment, and requiring participants to provide compatible digital wallet addresses. The program is voluntary, allowing participants to opt-in and remit payment stablecoins for various fees, such as licensing and registration.

Additionally, the bill mandates the department to monitor and evaluate the pilot program, conduct audits of permitted payment stablecoin issuers, and submit annual reports to the Governor and Legislature starting February 1, 2027. The report will include data on transaction volume, cost savings, and any findings or recommendations regarding the program's future. The bill also clarifies that it does not alter existing statutory obligations or require the acceptance of any other digital assets, while allowing the department to adopt rules for implementation.