HB 1347

1	A bill to be entitled
2	An act relating to the Florida Biotechnology Investment
3	Matching Grant Program; creating s. 288.9553, F.S.;
4	providing legislative findings and intent; creating the
5	program; designating an existing committee, or
6	subcommittee thereof, within Enterprise Florida, Inc., for
7	certain purposes; providing for committee members to serve
8	without compensation; providing a deadline for processing
9	applications; requiring reports to the Governor and
10	Legislature; providing eligibility guidelines for
11	applicants; providing for a program administrator;
12	providing responsibilities of the program administrator;
13	providing for program administrative costs; designating a
14	fiduciary entity; specifying eligibility requirements;
15	providing for awards; requiring the Office of Program
16	Policy Analysis and Government Accountability to conduct a
17	review of the matching grant program; requiring the office
18	to submit a report of its findings and recommendations to
19	the Governor and the Legislature; providing
20	appropriations; providing an effective date.
21
22	Be It Enacted by the Legislature of the State of Florida:
23
24	Section 1.  Section 288.9553, Florida Statutes, is created
25	to read:
26	288.9553  Florida Biotechnology Investment Matching Grant
27	Program.-
28	(1)  CREATION; PURPOSE; GOALS AND OBJECTIVES.-
29	(a)  The Florida Biotechnology Investment Matching Grant
30	Program is created for the purpose of accomplishing the goals
31	and objectives specified in this section.
32	(b)  The purpose of the Florida Biotechnology Investment
33	Matching Grant Program is to increase the amount of federal
34	funding coming to this state which will produce the kind of
35	distinctive biotechnologies that drive today's knowledge-based
36	economy. By leveraging federal, state, and private-sector
37	resources, the program intends to accelerate the innovation
38	process and more efficiently transform research results into
39	products in the marketplace.
40	(c)  The program is specifically intended to be a catalyst
41	for small or startup biotechnology companies that can take
42	advantage of federal and state partnerships in order to
43	accelerate their growth and market penetration by helping to
44	overcome the funding gap faced by many small companies that are
45	based in this state. Specific goals and objectives of the
46	program include:
47	1.  Increasing the amount of federal research moneys
48	received by small biotechnology businesses in this state through
49	awards from the Small Business Innovation Research Program and
50	the Small Business Technology Transfer Program of the Office of
51	Technology of the United States Small Business Administration.
52	2.  Accelerating the entry of new biotechnology-based
53	products into the marketplace.
54	3.  Producing additional biotechnology-based jobs for the
55	state.
56	4.  Providing leveraged resources to increase the
57	effectiveness and success of applicants' projects.
58	5.  Speeding commercialization of promising
59	biotechnologies.
60	6.  Encouraging the establishment and growth of high-
61	quality, advanced biotechnology firms in the state.
62	7.  Accelerating the rate of investment and enhancing the
63	state's investment infrastructure.
64	(2)  ADMINISTRATION.-Enterprise Florida's Technology,
65	Entrepreneurship, and Capital Committee, or a subcommittee of
66	that committee having no fewer than seven members, shall develop
67	program policies, ensure statewide applicability of the program,
68	establish criteria for grant awards, approve grant awards, and
69	review program progress and results.
70	(a)  Members of the committee shall serve without
71	compensation.
72	(b)  Enterprise Florida, Inc., shall provide staff support
73	for the committee.
74	(c)  Applications for matching grant awards must be
75	reviewed and approved or denied within 45 days after receipt of
76	the application.
77	(d)  Beginning December 1, 2010, and annually thereafter,
78	the committee shall transmit an annual report to the Governor,
79	the President of the Senate, and the Speaker of the House of
80	Representatives for the previous fiscal year.
81	(3)  ELIGIBILITY GUIDELINES.-A qualified applicant shall:
82	(a)  Be a biotechnology business entity that is registered
83	with the Secretary of State to operate in this state. The
84	qualified applicant must also have its primary office and a
85	majority of its employees domiciled in this state, and the
86	principal research activities must be conducted in this state.
87	(b)  Be a small company for which a state matching grant is
88	necessary for project development and implementation.
89	(c)  Have received a Phase I award under the federal Small
90	Business Innovation Research Program or Small Business
91	Technology Transfer Program.
92	(d)  Use federal, local, and private resources to the
93	maximum extent possible. Total project funding shall demonstrate
94	that not more than 50 percent of the project's total funding is
95	provided by the state grant.
96	(e)  Conduct the project funded by the matching grant
97	program in this state.
98	(4)  PROGRAM ADMINISTRATOR.-Subject to appropriations,
99	Enterprise Florida, Inc., shall serve as program administrator.
100	Enterprise Florida, Inc., may contract for the performance of
101	biotechnology review and related functions with a third party.
102	Not more than 10 percent of a legislative appropriation may be
103	used for administrative purposes. The responsibilities of the
104	program administrator include, but are not limited to:
105	(a)  Coordinating and supporting the grant review,
106	approval, and contracting activities.
107	(b)  Administering the grant-selection process, including,
108	but not limited to, issuing open-call requests for grant
109	applications and receiving, reviewing, and processing grant
110	applications.
111	(c)  Serving as grant contract manager for recipients of a
112	matching grant.
113	(d)  Reporting program progress and results.
114	(e)  Establishing a mechanism by which information
115	regarding grant projects may be made available to facilitate
116	additional investment by individual investors, investment for
117	early start-up costs, or venture capital investment.
118	(5)  FIDUCIARY.-
119	(a)  Enterprise Florida, Inc., shall award money to a
120	qualified applicant if:
121	1.  The committee approves the award.
122	2.  The qualified applicant demonstrates that it has
123	obtained a Phase I award under the federal Small Business
124	Innovation Research Program or Small Business Technology
125	Transfer Program.
126	3.  The qualified applicant executes a performance contract
127	with Enterprise Florida, Inc.
128	(b)  Enterprise Florida, Inc., shall release funds to a
129	qualified applicant upon completion of all contract
130	requirements.
131	(6)  AWARDS.-The matching grant program may make one-time
132	awards of up to $100,000 per project to a qualified applicant.
133	Section 2.  Before the 2013 Regular Session of the
134	Legislature, the Office of Program Policy Analysis and
135	Government Accountability shall conduct a review and evaluation
136	of the effectiveness and viability of the Florida Biotechnology
137	Investment Matching Grant Program. The office shall specifically
138	evaluate the use of federal grants and private investment and
139	the creation of new biotechnology businesses and jobs. The
140	office shall also recommend outcome measures for further
141	evaluation of the program. The office shall submit a report of
142	its findings and recommendations to the Governor, the President
143	of the Senate, and the Speaker of the House of Representatives
144	by January 1, 2013.
145	Section 3.  The recurring sum of $4 million is appropriated
146	from the General Revenue Fund to Enterprise Florida, Inc., for
147	the 2010-2011, 2011-2012, and 2012-2013 fiscal years for the
148	purpose of implementing s. 288.9553, Florida Statutes.
149	Section 4.  This act shall take effect July 1, 2010.

CODING: Words stricken are deletions; words underlined are additions.