Senate Bill 1674
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Florida Senate - 1999 SB 1674
By Senator Kirkpatrick
5-1383A-99
1 A bill to be entitled
2 An act relating to economic development;
3 providing legislative findings and declarations
4 with respect to the global competition that is
5 encountered by the state in attracting certain
6 high-impact business facilities; creating the
7 Florida Economic Opportunities Incentive Fund
8 within the Office of Tourism, Trade, and
9 Economic Development; providing for the
10 transfer of moneys to the fund; limiting the
11 amount of moneys that may be transferred to the
12 fund in any one fiscal year; requiring
13 Enterprise Florida, Inc., to evaluate and
14 recommend high-impact facilities eligible for a
15 payment of moneys from the fund; requiring that
16 such payments be approved by the Governor,
17 following consultation with the President of
18 the Senate and the Speaker of the House of
19 Representatives; providing certain requirements
20 for the contract awarding moneys from the fund;
21 providing a contingent effective date.
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23 Be It Enacted by the Legislature of the State of Florida:
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25 Section 1. Florida Economic Opportunities Incentive
26 Fund.--
27 (1)(a) The Legislature finds that attracting,
28 retaining, and providing favorable conditions for the growth
29 of certain high-impact business facilities provides widespread
30 economic benefits to the public through high-quality
31 employment opportunities in such facilities and in related
1
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Florida Senate - 1999 SB 1674
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1 facilities attracted to the state, through the increased tax
2 base provided by the high-impact facility and businesses in
3 related sectors, through an enhanced entrepreneurial climate
4 in the state and the resulting business and employment
5 opportunities, and through the stimulation and enhancement of
6 the state's universities and community colleges. In the global
7 economy, there exists serious and fierce international
8 competition for these facilities, and in most instances, when
9 all available resources for economic development have been
10 used, the state continues to encounter severe competitive
11 disadvantages in vying for these high-impact business
12 facilities.
13 (b) The Legislature therefore declares that sufficient
14 resources shall be available to respond to extraordinary
15 economic opportunities and to compete effectively for these
16 high-impact business facilities.
17 (2)(a) There is created within the Office of Tourism,
18 Trade, and Economic Development the Florida Economic
19 Opportunities Incentive Fund.
20 (b) Upon the approval of the Governor, moneys may be
21 transferred to the Florida Economic Opportunities Incentive
22 Fund from the Working Capital Fund or other unappropriated
23 surplus funds, not to exceed $50 million in any one fiscal
24 year.
25 (3)(a) Enterprise Florida, Inc., shall evaluate
26 individual proposals for high-impact business facilities and
27 forward recommendations regarding the use of moneys in the
28 fund for such facilities to the director of the Office of
29 Tourism, Trade, and Economic Development. Such evaluation and
30 recommendation must include, but need not be limited to:
31
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Florida Senate - 1999 SB 1674
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1 1. A description of the type of facility, its business
2 operation, and the product or service associated with the
3 facility.
4 2. The number of full-time-equivalent jobs that will
5 be created by the facility and the total estimated average
6 annual wages of those jobs.
7 3. The cumulative amount of investment to be dedicated
8 to the facility within a specified period.
9 4. A statement of any special impacts the facility is
10 expected to stimulate in a particular business sector in the
11 state or regional economy or in the state's universities and
12 community colleges.
13 5. A statement of the role the incentive is expected
14 to play in the decision of the applicant business to locate or
15 expand in this state.
16 (b) Upon receipt of the evaluation and recommendation
17 from Enterprise Florida, Inc., the director shall recommend
18 approval or disapproval of a project for receipt of funds from
19 the Florida Economic Opportunities Incentive Fund to the
20 Governor. In recommending a high-impact business facility, the
21 director shall include proposed performance conditions that
22 the facility must meet to obtain incentive funds. The Governor
23 shall consult with the President of the Senate and the Speaker
24 of the House of Representatives before giving final approval
25 for a project.
26 (c) Upon the approval of the Governor, the director of
27 the Office of Tourism, Trade, and Economic Development and the
28 high-impact business shall enter into a contract that sets
29 forth the conditions for payment of moneys from the fund. The
30 contract must include the total amount of funds awarded; the
31 performance conditions that must be met to obtain the award,
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Florida Senate - 1999 SB 1674
5-1383A-99
1 including, but not limited to, net new employment in the
2 state, average salary, and total capital investment; the
3 methodology for validating performance; and the schedule of
4 payments from the fund.
5 Section 2. This act shall take effect upon becoming a
6 law, but it shall not take effect unless it is enacted by at
7 least a three-fifths vote of the membership of each house of
8 the Legislature.
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11 SENATE SUMMARY
12 Creates the Florida Economic Opportunities Incentive Fund
within the Office of Tourism, Trade, and Economic
13 Development. Limits the amount of moneys that may be
transferred to the fund to $50 million in any one fiscal
14 year. Requires that Enterprise Florida, Inc., evaluate
and recommend high-impact facilities that are eligible
15 for a payment of moneys from the fund. Requires that any
payments from the fund be approved by the Governor,
16 following consultation with the President of the Senate
and the Speaker of the House of Representatives.
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