The Florida Senate

331.419  Reports and audits.--

(1)  By December 31 of each year, the corporation shall submit to the Governor, the President of the Senate, the Speaker of the House of Representatives, the Senate Minority Leader, and the House Minority Leader a complete and detailed report setting forth:

(a)  An evaluation of its activities and recommendations for change.

(b)  The corporation's impact on the participation of private banks and other private organizations and individuals in the corporation's financing programs, and other economic and social benefits to businesses in this state.

(c)  Its assets and liabilities at the end of its most recent fiscal year.

(2)  By September 1, 2000, the corporation, in cooperation with the Office of Program Policy Analysis and Government Accountability, shall develop a research design, including goals and measurable objectives for the corporation, which will provide the Legislature with a quantitative evaluation of the corporation. The corporation shall utilize the monitoring mechanisms and reports developed in the designs and provide these reports to the Governor, the President of the Senate, the Speaker of the House of Representatives, and the Office of Program Policy Analysis and Government Accountability.

(3)  The Office of Financial Regulation of the Financial Services Commission shall review the corporation's activities once every 24 months to determine compliance with this part and related laws and rules and to evaluate the corporation's operations. The office shall prepare a report based on its review and evaluation with recommendation for any corrective action. The president shall submit to the office regular reports on the corporation's activities. The content and frequency of such reports shall be determined by the office. The office may charge a fee for conducting the review and evaluation and preparing the related report, which fee shall not be in excess of the examination fee paid by chartered or licensed financial institutions.

History.--s. 18, ch. 99-256; s. 141, ch. 2001-266; s. 371, ch. 2003-261.