HB 0691 2003
1	A bill to be entitled
2	An act relating to economic development incentive
3	programs; including certain financial services facilities
4	as an eligible high impact businesses for certain
5	purposes; providing for future repeal; amending s.
6	288.1088, F.S.; deleting a function of the Executive
7	Office of the Governor relating to project approval
8	recommendations and release of certain funds; authorizing
9	the Governor to reallocate unencumbered funds in the Quick
10	Action Closing Fund to supplement certain economic
11	development programs and operations in emergency or
12	special circumstances; providing for reallocation approval
13	and fund release recommendations by the Executive Office
14	of the Governor; providing an effective date.
15
16	Be It Enacted by the Legislature of the State of Florida:
17
18	Section 1. For purposes of s. 288.1088, Florida Statutes,
19	an eligible high impact business includes a new financial
20	services facility in this state, which creates at least 2,000
21	new jobs in this state, pays an average annual wage of at least
22	$50,000 for such jobs, and makes a capital investment of at
23	least $30 million in this state. This section is repealed June
24	30, 2004.
25	Section 2. Paragraph (b) of subsection (3) of section
26	288.1088, Florida Statutes, is amended, and subsection (4) is
27	added to said section, to read:
28	288.1088 Quick Action Closing Fund.--
29	(3)
30	(b) Upon receipt of the evaluation and recommendation from
31	Enterprise Florida, Inc., the director shall recommend approval
32	or disapproval of a project for receipt of funds from the Quick
33	Action Closing Fund to the Governor. In recommending a project,
34	the director shall include proposed performance conditions that
35	the project must meet to obtain incentive funds. The Governor
36	shall consult with the President of the Senate and the Speaker
37	of the House of Representatives before giving final approval for
38	a project. The Executive Office of the Governor shall recommend
39	approval of a project and release of funds pursuant to the
40	legislative consultation and review requirements set forth in s.
41	216.177. The recommendation must include proposed performance
42	conditions the project must meet to obtain funds.
43	(4) The Governor may, in an emergency or special
44	circumstance, and in consultation with the President of the
45	Senate and the Speaker of the House of Representatives,
46	reallocate unencumbered funds appropriated to the Quick Action
47	Closing Fund to supplement statutorily created economic
48	development programs and operations. The Executive Office of the
49	Governor shall recommend approval of the transfer and release of
50	funds pursuant to the legislative consultation and review
51	requirements set forth in s. 216.177.
52	Section 3. This act shall take effect upon becoming a law.