The Florida Senate

288.71  Conditions for board action.--The board shall require of all programs in which the board participates that any black business enterprise demonstrate to the appropriate entity that:

(1)  The proposed investment is economically sound and will benefit the people of the state by increasing opportunities for employment, strengthening the economy of the state, or expanding black business enterprises.

(2)  The black business enterprise proposed to be assisted will be able to compete successfully in the private sector if it obtains the requested financial assistance and has, or will obtain, necessary technical or managerial support through a private mentor, a state or federally sponsored small business assistance center, or other credible source. In determining whether a black business enterprise will be able to compete successfully, the entity shall consider such factors as:

(a)  The successful completion of, or participation in, courses of study recognized by an appropriate accrediting agency or appropriate state agency as providing financial, technical, or managerial skills related to the operation of the business by the owner or partner;

(b)  The prior success of the owner or partner in personal, career, or business activities;

(c)  Amount of local and other financial assistance available to the black business enterprise;

(d)  The availability of ongoing technical or managerial assistance by private sources; and

(e)  Other factors identified by the board.

The board shall adopt policies that prescribe criteria used by the board to evaluate applications for financial assistance to black business enterprises.

History.--ss. 12, 32, ch. 85-104; s. 2, ch. 94-271; s. 28, ch. 94-322; s. 4, ch. 2003-268.