| 1 | The Conference Committee on HB 5071 offered the following: |
| 2 |
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| 3 | Conference Committee Amendment (with title amendment) |
| 4 | Remove everything after the enacting clause and insert: |
| 5 | Section 1. Paragraph (b) of subsection (9) of section |
| 6 | 320.08058, Florida Statutes, is amended to read: |
| 7 | 320.08058 Specialty license plates.-- |
| 8 | (9) FLORIDA PROFESSIONAL SPORTS TEAM LICENSE PLATES.-- |
| 9 | (b) The license plate annual use fees are to be annually |
| 10 | distributed as follows: |
| 11 | 1. Fifty-five percent of the proceeds from the Florida |
| 12 | Professional Sports Team plate must be deposited into the |
| 13 | Professional Sports Development Trust Fund within the Office of |
| 14 | Tourism, Trade, and Economic Development. These funds must be |
| 15 | used solely to attract and support major sports events in this |
| 16 | state. As used in this subparagraph, the term "major sports |
| 17 | events" means, but is not limited to, championship or all-star |
| 18 | contests of Major League Baseball, the National Basketball |
| 19 | Association, the National Football League, the National Hockey |
| 20 | League, the men's and women's National Collegiate Athletic |
| 21 | Association Final Four basketball championship, or a horseracing |
| 22 | or dogracing Breeders' Cup. All funds must be used to support |
| 23 | and promote major sporting events, and the uses must be approved |
| 24 | by the Florida Sports Foundation. |
| 25 | 2. The remaining proceeds of the Florida Professional |
| 26 | Sports Team license plate must be allocated to the Florida |
| 27 | Sports Foundation, a direct-support organization of the Office |
| 28 | of Tourism, Trade, and Economic Development. These funds must be |
| 29 | deposited into the Professional Sports Development Trust Fund |
| 30 | within the Office of Tourism, Trade, and Economic Development. |
| 31 | These funds must be used by the Florida Sports Foundation to |
| 32 | promote the economic development of the sports industry; to |
| 33 | distribute licensing and royalty fees to participating |
| 34 | professional sports teams; to promote education programs in |
| 35 | Florida schools that provide an awareness of the benefits of |
| 36 | physical activity and nutrition standards; to partner with the |
| 37 | Department of Education and the Department of Health to develop |
| 38 | a program that recognizes schools whose students demonstrate |
| 39 | excellent physical fitness or fitness improvement; to institute |
| 40 | a grant program for communities bidding on minor sporting events |
| 41 | that create an economic impact for the state; to distribute |
| 42 | funds to Florida-based charities designated by the Florida |
| 43 | Sports Foundation and the participating professional sports |
| 44 | teams; and to fulfill the sports promotion responsibilities of |
| 45 | the Office of Tourism, Trade, and Economic Development. |
| 46 | 3. The Florida Sports Foundation shall provide an annual |
| 47 | financial audit in accordance with s. 215.981 of its financial |
| 48 | accounts and records by an independent certified public |
| 49 | accountant pursuant to the contract established by the Office of |
| 50 | Tourism, Trade, and Economic Development as specified in s. |
| 51 | 288.1229(5). The auditor shall submit the audit report to the |
| 52 | Office of Tourism, Trade, and Economic Development for review |
| 53 | and approval. If the audit report is approved, the office shall |
| 54 | certify the audit report to the Auditor General for review. |
| 55 | 4. For the 2007-2008 fiscal year only and Notwithstanding |
| 56 | the provisions of subparagraphs 1. and 2., proceeds from the |
| 57 | Professional Sports Development Trust Fund may also be used for |
| 58 | operational expenses of the Florida Sports Foundation and |
| 59 | financial support of the Sunshine State Games. This subparagraph |
| 60 | expires July 1, 2008. |
| 61 | Section 2. Section 288.7102, Florida Statutes, is amended |
| 62 | to read: |
| 63 | 288.7102 Black Business Loan Program.-- |
| 64 | (1) The Black Business Loan Program is established in the |
| 65 | Office of Tourism, Trade, and Economic Development. Under the |
| 66 | program, the office shall annually certify eligible recipients |
| 67 | and subsequently disburse funds appropriated by the Legislature, |
| 68 | through such eligible recipients, to black business enterprises |
| 69 | that cannot obtain capital through conventional lending |
| 70 | institutions but that could otherwise compete successfully in |
| 71 | the private sector. |
| 72 | (2)(1) The office shall establish an a uniform, open, and |
| 73 | competitive application and annual certification process for |
| 74 | entities seeking eligible recipients who seek funds to |
| 75 | participate in providing provide loans, loan guarantees, or |
| 76 | investments in black business enterprises pursuant to the |
| 77 | Florida Black Business Investment Act. The board shall receive |
| 78 | the applications and make recommendations for certification to |
| 79 | the office. The office shall processes all applications and |
| 80 | recertifications submitted by July 1 on or before September 30. |
| 81 | (3) If the Black Business Loan Program is appropriated any |
| 82 | funding in a fiscal year, the office shall distribute an equal |
| 83 | amount of the appropriation, calculated as the total annual |
| 84 | appropriation divided by the total number of program recipients |
| 85 | certified on or before September 30 of that fiscal year. |
| 86 | (2) The office, in consultation with the board, shall |
| 87 | develop an allocation policy to ensure that services provided |
| 88 | under ss. 288.707-288.714 for the benefit of black business |
| 89 | enterprises are disbursed equitably throughout the state. The |
| 90 | board shall facilitate the formation of black business |
| 91 | investment corporations in communities that are not served by |
| 92 | such corporations. |
| 93 | (4)(3) To be eligible to receive funds and provide loans, |
| 94 | loan guarantees, or investments under this section, a recipient |
| 95 | must: |
| 96 | (a) Be a corporation registered in the state. |
| 97 | (b) Demonstrate that its board of directors includes |
| 98 | citizens of the state experienced in the development of black |
| 99 | business enterprises. |
| 100 | (c) Demonstrate that the recipient has a business plan |
| 101 | that allows the recipient to operate in a manner consistent with |
| 102 | ss. 288.707-288.714 and the rules of the office. |
| 103 | (d) Demonstrate that the recipient has the technical |
| 104 | skills to analyze and evaluate applications by black business |
| 105 | enterprises for loans, loan guarantees, or investments. |
| 106 | (e) Demonstrate that the recipient has established viable |
| 107 | partnerships with public and private funding sources, economic |
| 108 | development agencies, and workforce development and job referral |
| 109 | networks. |
| 110 | (f) Demonstrate that the recipient can provide a private |
| 111 | match equal to 20 percent of the amount of funds provided by the |
| 112 | office. |
| 113 | (g) Agree to maintain the recipient's books and records |
| 114 | relating to funds received by the office according to generally |
| 115 | accepted accounting principles and in accordance with the |
| 116 | requirements of s. 215.97(7) and to make those books and records |
| 117 | available to the office for inspection upon reasonable notice. |
| 118 | (5)(4) The board shall annually recommend to the office |
| 119 | certification of each eligible recipient, who must meet the |
| 120 | provisions of ss. 288.707-288.714, the terms of the contract |
| 121 | between the recipient and the office, and any other applicable |
| 122 | state or federal laws. An entity may not receive funds under ss. |
| 123 | 288.707-288.714 unless the entity meets annual certification |
| 124 | requirements. |
| 125 | (6)(5) Upon approval by the office and prior to release of |
| 126 | the funds as provided in this section, the office shall issue a |
| 127 | letter certifying the applicant as qualified for an award. The |
| 128 | office and the applicant shall enter into an agreement that sets |
| 129 | forth the conditions for award of the funds. The agreement must |
| 130 | include the total amount of funds awarded; the performance |
| 131 | conditions that must be met once the funding has been awarded, |
| 132 | including, but not limited to, compliance with all of the |
| 133 | requirements of this section for eligible recipients of funds |
| 134 | under this section; and sanctions for failure to meet |
| 135 | performance conditions, including any provisions to recover |
| 136 | awards. |
| 137 | (7)(6)(a) The office, in consultation with the board, |
| 138 | shall adopt rules pursuant to ss. 120.536(1) and 120.54 to |
| 139 | implement this section. |
| 140 | (b) The board shall adopt policies and procedures |
| 141 | necessary to implement this section. |
| 142 | (8)(7) A black business investment corporation certified |
| 143 | by the office as an eligible recipient under this section is |
| 144 | authorized to use funds appropriated for the Black Business Loan |
| 145 | Program in any of the following forms: |
| 146 | (a) Purchases of stock, preferred or common, voting or |
| 147 | nonvoting; however, no more than 40 percent of the funds may be |
| 148 | used for direct investments in black business enterprises; |
| 149 | (b) Loans or loan guarantees, with or without recourse, in |
| 150 | either a subordinated or priority position; or |
| 151 | (c) Technical support to black business enterprises, not |
| 152 | to exceed 7 percent of the funds received, and direct |
| 153 | administrative costs, not to exceed 10 percent of the funds |
| 154 | received. |
| 155 | (9)(8) It is the intent of the Legislature that if any one |
| 156 | type of investment mechanism authorized in subsection (8) (7) is |
| 157 | held to be invalid, all other valid mechanisms remain available. |
| 158 | (10)(9) All loans, loan guarantees, and investments, and |
| 159 | any income related thereto, shall be used to carry out the |
| 160 | public purpose of ss. 288.707-288.714, which is to develop black |
| 161 | business enterprises. This subsection does not preclude a |
| 162 | reasonable profit for the participating black business |
| 163 | investment corporation or for return of equity developed to the |
| 164 | state and participating financial institutions upon any |
| 165 | distribution of the assets or excess income of the investment |
| 166 | corporation. |
| 167 | Section 3. Subsection (2) of section 288.7094, Florida |
| 168 | Statutes, is amended to read: |
| 169 | 288.7094 Black business investment corporations.-- |
| 170 | (2) A black business investment corporation that meets the |
| 171 | requirements of s. 288.7102(4)(3) is eligible to participate in |
| 172 | the Black Business Loan Program and shall receive priority |
| 173 | consideration by the Office of Tourism, Trade, and Economic |
| 174 | Development for participation in the program. |
| 175 | Section 4. This act shall take effect July 1, 2008. |
| 176 |
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| 177 |
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| 178 | ----------------------------------------------------- |
| 179 | T I T L E A M E N D M E N T |
| 180 | Remove the entire title and insert: |
| 181 | A bill to be entitled |
| 182 | An act relating to economic development; amending s. |
| 183 | 320.08058, F.S.; removing a timeframe restriction on the |
| 184 | use of proceeds from the Professional Sports Development |
| 185 | Trust Fund for operational expenses of the Florida Sports |
| 186 | Foundation and financial support of the Sunshine State |
| 187 | Games; amending s. 288.7102, F.S.; revising provisions |
| 188 | relating to the application and certification process for |
| 189 | the Black Business Loan Program; providing requirements |
| 190 | concerning distribution of program funding; amending s. |
| 191 | 288.7094, F.S.; conforming a cross-reference; providing an |
| 192 | effective date. |