Florida Senate - 2012                                     SB 946
       
       
       
       By Senator Bennett
       
       
       
       
       21-00412-12                                            2012946__
    1                        A bill to be entitled                      
    2         An act relating to economic development; creating s.
    3         288.11685, F.S.; authorizing Enterprise Florida, Inc.,
    4         to establish a statewide golf trail; requiring
    5         Enterprise Florida, Inc., to cooperate with various
    6         entities; requiring Enterprise Florida, Inc., to
    7         designate a proprietary name for the statewide golf
    8         trail; authorizing Enterprise Florida, Inc., to
    9         license the name and receive compensation for such
   10         licensing; requiring Enterprise Florida, Inc., to
   11         maintain and protect the name, brand, proprietary
   12         marks, and intellectual property of the statewide golf
   13         trail in a specified manner; encouraging Enterprise
   14         Florida, Inc., to enter into certain licensing
   15         arrangements or contracts; prohibiting Enterprise
   16         Florida, Inc., from accepting certain financial
   17         responsibility or liability for the statewide golf
   18         trail; directing various economic development and
   19         tourism promotion agencies to support the statewide
   20         golf trail; requiring Enterprise Florida, Inc., to
   21         submit an annual report to the Legislature on the
   22         statewide golf trail; amending s. 288.9913, F.S.;
   23         revising definitions of the terms “qualified active
   24         low-income community business” and “qualified
   25         investment” for purposes of the New Markets
   26         Development Program Act; providing an effective date.
   27  
   28  Be It Enacted by the Legislature of the State of Florida:
   29  
   30         Section 1. Section 288.11685, Florida Statutes, is created
   31  to read:
   32         288.11685 Promotion of golf tourism and economic
   33  development; statewide golf trail.—
   34         (1) Enterprise Florida, Inc., may establish within the
   35  state, develop, and promote a comprehensive statewide golf trail
   36  to support the expansion of international and domestic golf
   37  tourism in the state, the creation of jobs, and the economic
   38  development of the golf industry and its related hospitality,
   39  travel, sales, retail, real estate, equipment manufacturing, and
   40  distribution services in the state.
   41         (2) Enterprise Florida, Inc., to the maximum extent
   42  practicable, shall cooperate with existing professional and
   43  amateur golf associations, golf courses, golf industry
   44  businesses, statewide and regional golf marketing efforts, and
   45  the PGA Golf Professional Hall of Fame to effectively implement
   46  the statewide golf trail and promote the state’s regional and
   47  local golf courses and golf industry businesses.
   48         (3) Enterprise Florida, Inc., shall designate and may
   49  license a proprietary name used for promotion of the statewide
   50  golf trail and shall develop criteria for the most effective use
   51  of the brand. Enterprise Florida, Inc., shall maintain and
   52  protect the name, brand, proprietary marks, and other
   53  intellectual property of the statewide golf trail in a manner
   54  consistent with state and federal law which ensures that
   55  Enterprise Florida, Inc., and its licensees have exclusive use
   56  of such name, brand, proprietary marks, and other intellectual
   57  property.
   58         (4) Enterprise Florida, Inc., is encouraged to enter into
   59  licensing arrangements or contracts with golf courses, tourism
   60  promotion agencies, and other golf industry businesses which
   61  facilitate the efficient, cost-effective, and successful
   62  financing, development, and promotion of the statewide golf
   63  trail. However, Enterprise Florida, Inc., may not accept any
   64  financial responsibility or liability for the creation of the
   65  statewide golf trail or its related activities but may receive
   66  compensation for licensing under subsection (3).
   67         (5) The Department of Economic Opportunity, the Florida
   68  Tourism Industry Marketing Corporation, and other economic
   69  development and tourism promotion agencies at the state and
   70  local levels shall support the development, branding, and
   71  promotion of the statewide golf trail.
   72         (6) By February 1 of each year, beginning in 2012,
   73  Enterprise Florida, Inc., shall submit an annual report to the
   74  President of the Senate and the Speaker of the House of
   75  Representatives on the progress and success of the statewide
   76  golf trail.
   77         Section 2. Paragraph (c) of subsection (5) and subsection
   78  (7) of section 288.9913, Florida Statutes, are amended to read:
   79         288.9913 Definitions.—As used in ss. 288.991-288.9922, the
   80  term:
   81         (5) “Qualified active low-income community business” means
   82  a corporation, including a nonprofit corporation, or partnership
   83  that complies with each of the following:
   84         (c) Satisfies the requirements of paragraphs (a) and (b),
   85  but does not:
   86         1. Derive or project to derive 15 percent or more of its
   87  annual revenue from the rental or sale of real estate, unless
   88  the corporation or partnership derives such revenue from the
   89  rental of real estate and the primary lessee and user of such
   90  real estate is another qualified active low-income community
   91  business that is owned or controlled by, or that is under common
   92  ownership or control with, such corporation or partnership;
   93         2. Engage predominantly in the development or holding of
   94  intangibles for sale or license;
   95         3. Operate a private or commercial golf course, country
   96  club, massage parlor, hot tub facility, suntan facility,
   97  racetrack, gambling facility, or a store the principal business
   98  of which is the sale of alcoholic beverages for consumption off
   99  premises; or
  100         4. Engage principally in farming and owns or leases assets
  101  the sum of the aggregate unadjusted bases or the fair market
  102  value of which exceeds $500,000.
  103         (7)  “Qualified investment” means an equity investment in,
  104  or a long-term debt security issued by, a qualified community
  105  development entity that:
  106         (a)  Is issued solely in exchange for cash; and
  107         (b)  Is designated by the qualified community development
  108  entity as a qualified investment under this paragraph and is
  109  approved by the department as a qualified investment.
  110  
  111  Notwithstanding any provision of this section, an investment
  112  made by a qualified active low-income community business in a
  113  project that includes a recreational or sports facility is a
  114  qualified investment if the project, upon completion, is open
  115  and accessible to and affordable by the public, including the
  116  residents of the low-income community in which the project is
  117  located.
  118         Section 3. This act shall take effect July 1, 2012.