Florida Senate - 2012                                    SB 1622
       
       
       
       By Senator Ring
       
       
       
       
       32-01005-12                                           20121622__
    1                        A bill to be entitled                      
    2         An act relating to economic development incentives;
    3         providing legislative intent regarding the
    4         maximization of economic development incentives;
    5         requiring the Department of Economic Opportunity to
    6         identify and group all statutorily created economic
    7         development incentives according to classifications
    8         created by the department; requiring the department to
    9         develop criteria and procedures by which it will
   10         select independent, third-party consultants to review
   11         applications for economic development incentive
   12         awards; requiring the department to develop criteria
   13         for the selection of third-party consultants;
   14         requiring the department to make recommendations to
   15         the Legislature by a date certain; providing criteria
   16         for the recommendations; providing an effective date.
   17  
   18  Be It Enacted by the Legislature of the State of Florida:
   19  
   20         Section 1. (1) The Legislature intends that economic
   21  development incentives be maximized to attract and keep the best
   22  businesses and industries in this state while providing the
   23  greatest return on its investment. The Legislature finds that in
   24  order to meet this goal, proposals for economic development
   25  incentives must be given sufficient and thorough scrutiny by
   26  economic professionals in order to determine whether they are
   27  based on sound business principles and technology, whether
   28  stated goals are achievable, and whether the individuals charged
   29  with managing a business that receives an incentive are
   30  qualified and knowledgeable. In addition, the Legislature finds
   31  that the selection process for incentive awards must be fair and
   32  transparent.
   33         (2) The Department of Economic Opportunity shall review all
   34  statutorily created economic development incentives and group
   35  them according to classifications reflective of the nature of
   36  the incentives. The department shall develop criteria for
   37  selecting independent third-party consultants that have
   38  expertise in each of the identified classifications. A third
   39  party consultant must have sufficient expertise and experience
   40  to choose award recipients that can successfully meet the goals
   41  identified for each classification, to monitor each award
   42  contract to ensure that awarded funds are expended pursuant to
   43  the contract, and to make recommendations to the department if
   44  an award recipient does not meet the terms of the contract.
   45         (3) By January 1, 2013, the department shall make
   46  recommendations to the Legislature regarding statutory changes
   47  necessary to implement the classification system and review
   48  process. The recommendations must:
   49         (a) Provide for the transfer of the oversight of economic
   50  development incentive award programs from Enterprise Florida,
   51  Inc., to the department and for the use of third-party
   52  consultants to receive, review, and approve by classification
   53  applications for economic development incentives.
   54         (b) Provide criteria to classify economic incentives and to
   55  ensure that economic development incentives or the awards are
   56  not duplicative.
   57         (c) Provide criteria and procedures to be used by the
   58  department in selecting third-party consultants for each
   59  classification.
   60         (d) Provide for an oversight board within the department to
   61  manage the third-party consultants and oversee the economic
   62  development incentives to ensure that incentive awards are not
   63  duplicative and meet the objectives of each of the economic
   64  development incentives.
   65         Section 2. This act shall take effect July 1, 2012.