Senate Bill sb1492
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Florida Senate - 2006 SB 1492
By Senator Bennett
21-978-06
1 A bill to be entitled
2 An act relating to state appropriations;
3 requiring that certain funds remaining
4 undistributed on a specified date be returned
5 to the General Revenue Fund; appropriating the
6 funds to the Office of Tourism, Trade, and
7 Economic Development for the purpose of funding
8 the Scripps Florida Funding Corporation if
9 certain contracts are executed; providing for
10 the funds to be returned unallocated to the
11 General Revenue Fund if such contracts are not
12 executed by the end of the 2006-2007 fiscal
13 year; providing an effective date.
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15 WHEREAS, the Legislature finds that having The Scripps
16 Research Institute and other biomedical research firms locate
17 in Florida is vital to the state's efforts to improve and
18 diversify its economic outlook, and
19 WHEREAS, the Legislature further finds that any delay
20 in the construction of a permanent facility to house The
21 Scripps Research Institute may jeopardize the economic impact
22 of the facility for the state, and
23 WHEREAS, a poor economy is injurious to the health,
24 safety, and welfare of Floridians, and
25 WHEREAS, the state spends billions of dollars each year
26 treating major diseases, and
27 WHEREAS, the acceleration of biomedical research and
28 development projects may lead to prevention, new treatments,
29 and cures for some of these diseases, and
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Florida Senate - 2006 SB 1492
21-978-06
1 WHEREAS, the construction of The Scripps Research
2 Institute will greatly aid the state in its essential role of
3 protecting the health of its residents, and
4 WHEREAS, the selected site for the permanent facility
5 for The Scripps Research Institute in Palm Beach County may
6 require an extensive environmental-impact assessment, and
7 WHEREAS, the state may purchase the 92,976-acre Babcock
8 Ranch located in Charlotte and Lee Counties for which a
9 private developer has been granted an option, and
10 WHEREAS, purchasing the Babcock Ranch will preserve
11 more than 74,000 acres in perpetuity which will in turn
12 protect species biodiversity, serve as a recharge area for
13 southwest Florida's supply of drinking water, and provide
14 recreational opportunities for the public, and
15 WHEREAS, the remaining 19,500 acres of the Babcock
16 Ranch may receive approval for single-family residences and
17 commercial space and could accommodate a town of 48,000
18 residents, and
19 WHEREAS, the required commercial space for The Scripps
20 Research Institute may be accommodated in the planning for the
21 19,500 acres of the Babcock Ranch which are intended for
22 development, and
23 WHEREAS, the Legislature intends to expedite the
24 construction of a permanent facility for The Scripps Research
25 Institute by making continued funding for the Scripps Florida
26 Funding Corporation contingent upon constructing the permanent
27 facility for the institute on the 19,500 acres of the Babcock
28 Ranch which the developer is retaining for development, NOW,
29 THEREFORE,
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31 Be It Enacted by the Legislature of the State of Florida:
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Florida Senate - 2006 SB 1492
21-978-06
1 Section 1. (1) Notwithstanding the provisions of
2 chapter 2003-420, Laws of Florida, all funds remaining
3 undistributed on July 1, 2006, from the $310-million
4 appropriation from the General Revenue Fund to the Office of
5 Tourism, Trade, and Economic Development for the purpose of
6 funding the Scripps Florida Funding Corporation shall be
7 returned immediately to the General Revenue Fund.
8 (2) For the 2006-2007 fiscal year, the funds
9 transferred to the General Revenue Fund under subsection (1)
10 are appropriated to the Office of Tourism, Trade, and Economic
11 Development for the purpose of funding the Scripps Florida
12 Funding Corporation. The funds shall be distributed to the
13 corporation only if:
14 (a) A contract is executed for constructing the
15 permanent facility for The Scripps Research Institute on the
16 19,500 acres of the Babcock Ranch which is retained by the
17 private developer for development; and
18 (b) A contract is executed for the sale of the
19 remaining portion of the Babcock Ranch, which is approximately
20 74,476 acres, to the Board of Trustees of the Internal
21 Improvement Trust Fund.
22 (3) If the private developer and the Board of Trustees
23 of the Internal Improvement Trust Fund do not execute a
24 contract for the sale of the remaining portion of the Babcock
25 Ranch as part of the Florida Forever program or if the
26 contract to construct the permanent facility for The Scripps
27 Research Institute on the acreage retained by the private
28 developer is not executed by the end of the 2006-2007 fiscal
29 year, the funds appropriated under this act shall be returned
30 unallocated to the General Revenue Fund.
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Florida Senate - 2006 SB 1492
21-978-06
1 Section 2. This act shall take effect upon becoming a
2 law.
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5 SENATE SUMMARY
6 Requires that certain funds that remained undistributed
on July 1, 2006, be returned to the General Revenue Fund.
7 Provides for those funds to be reappropriated to the
Office of Tourism, Trade, and Economic Development for
8 the purpose of funding the Scripps Florida Funding
Corporation if contracts are executed to construct The
9 Scripps Research Institute on the Babcock Ranch and to
sell a portion of the Babcock Ranch to the Board of
10 Trustees of the Internal Improvement Trust Fund. Provides
for the funds to be returned unallocated to the General
11 Revenue Fund if such contracts are not executed by the
end of the 2006-2007 fiscal year.
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