CODING: Words stricken are deletions; words underlined are additions.House Bill 0711
Florida House of Representatives - 1997 HB 711
By Representative Tobin
1 A bill to be entitled
2 An act relating to public records; creating s.
3 159.6085, F.S.; providing that when a housing
4 finance authority applies for or obtains a
5 charter for a federal or state savings and loan
6 association or bank, the personal financial
7 records of the members of the authority or the
8 directors of the savings and loan association
9 or bank do not become public records and are
10 exempt from public records requirements;
11 providing for future review and repeal;
12 providing a finding of public necessity;
13 providing an effective date.
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15 Be It Enacted by the Legislature of the State of Florida:
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17 Section 1. Section 159.6085, Florida Statutes, is
18 created to read:
19 159.6085 Public records exemption.--If a housing
20 finance authority applies for or obtains a charter for a
21 federal or state savings and loan association or bank pursuant
22 to s. 159.608(9), any personal financial records of the
23 members of the housing finance authority or the board of
24 directors of the savings and loan association or bank shall be
25 subject to all applicable bank secrecy requirements and shall
26 not become public records by virtue of any application or
27 charter filed with a state or federal agency by a member of
28 the housing finance authority in connection with the
29 application for a savings and loan association or bank
30 charter. Such personal financial records are exempt from s.
31 119.07(1) and s. 24(a), Art. I of the State Constitution.
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Florida House of Representatives - 1997 HB 711
216-188A-97
1 This section is subject to the Open Government Sunset Review
2 Act of 1995 in accordance with s. 119.15, and shall stand
3 repealed on October 2, 2002, unless reviewed and saved from
4 repeal through reenactment by the Legislature.
5 Section 2. The Legislature finds that the exemption
6 from public records requirements provided by this act is a
7 public necessity for the following reasons:
8 (1) The exemption serves important purposes without
9 unduly detracting from the ability of the public to oversee
10 and assess members of housing finance authorities. Personal
11 financial information and, in particular, tax returns contain
12 highly confidential information. For example, such returns
13 may reveal the nature of an individual's contributions to a
14 church, a political party, or a charity. In addition, the
15 disclosure of an individual's financial position may expose
16 such person or members of the person's family to personal or
17 physical risk. For these reasons, such information is a
18 matter of serious concern, deserving of protection.
19 (2) Like other public officers, members of housing
20 finance authorities are already required to provide public
21 disclosure of their personal financial information pursuant to
22 ss. 112.3145 and 112.3146, Florida Statutes. If the public is
23 truly interested in assessing the financial worthiness of a
24 member of a housing finance authority, the public can do so in
25 a less intrusive manner by reviewing the limited financial
26 disclosure provided by such officer.
27 (3) Unlike most public officers, members of housing
28 finance authorities serve as volunteers and receive no
29 compensation for their services. Housing finance authorities
30 fulfill an important public purpose by helping to provide
31 affordable housing loans to residents of Florida who, because
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Florida House of Representatives - 1997 HB 711
216-188A-97
1 of their low-income status, are otherwise unable to borrow
2 from existing financial institutions. Housing finance
3 authorities would be unable to operate if they could not
4 attract qualified, civic-minded persons to serve as members.
5 Protecting the personal financial information, including tax
6 returns, of such persons from public disclosure will help
7 attract and retain such persons.
8 Section 3. This act shall take effect upon becoming a
9 law.
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12 HOUSE SUMMARY
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Provides that when a housing finance authority applies
14 for or obtains a charter for a federal or state savings
and loan association or bank, the personal financial
15 records of the members of the authority or the directors
of the savings and loan association or bank do not become
16 public records and are exempt from public records
requirements. Provides for future review and repeal.
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