Florida Senate - 2012 SB 946
By Senator Bennett
21-00412-12 2012946__
1 A bill to be entitled
2 An act relating to economic development; creating s.
3 288.11685, F.S.; authorizing Enterprise Florida, Inc.,
4 to establish a statewide golf trail; requiring
5 Enterprise Florida, Inc., to cooperate with various
6 entities; requiring Enterprise Florida, Inc., to
7 designate a proprietary name for the statewide golf
8 trail; authorizing Enterprise Florida, Inc., to
9 license the name and receive compensation for such
10 licensing; requiring Enterprise Florida, Inc., to
11 maintain and protect the name, brand, proprietary
12 marks, and intellectual property of the statewide golf
13 trail in a specified manner; encouraging Enterprise
14 Florida, Inc., to enter into certain licensing
15 arrangements or contracts; prohibiting Enterprise
16 Florida, Inc., from accepting certain financial
17 responsibility or liability for the statewide golf
18 trail; directing various economic development and
19 tourism promotion agencies to support the statewide
20 golf trail; requiring Enterprise Florida, Inc., to
21 submit an annual report to the Legislature on the
22 statewide golf trail; amending s. 288.9913, F.S.;
23 revising definitions of the terms “qualified active
24 low-income community business” and “qualified
25 investment” for purposes of the New Markets
26 Development Program Act; providing an effective date.
27
28 Be It Enacted by the Legislature of the State of Florida:
29
30 Section 1. Section 288.11685, Florida Statutes, is created
31 to read:
32 288.11685 Promotion of golf tourism and economic
33 development; statewide golf trail.—
34 (1) Enterprise Florida, Inc., may establish within the
35 state, develop, and promote a comprehensive statewide golf trail
36 to support the expansion of international and domestic golf
37 tourism in the state, the creation of jobs, and the economic
38 development of the golf industry and its related hospitality,
39 travel, sales, retail, real estate, equipment manufacturing, and
40 distribution services in the state.
41 (2) Enterprise Florida, Inc., to the maximum extent
42 practicable, shall cooperate with existing professional and
43 amateur golf associations, golf courses, golf industry
44 businesses, statewide and regional golf marketing efforts, and
45 the PGA Golf Professional Hall of Fame to effectively implement
46 the statewide golf trail and promote the state’s regional and
47 local golf courses and golf industry businesses.
48 (3) Enterprise Florida, Inc., shall designate and may
49 license a proprietary name used for promotion of the statewide
50 golf trail and shall develop criteria for the most effective use
51 of the brand. Enterprise Florida, Inc., shall maintain and
52 protect the name, brand, proprietary marks, and other
53 intellectual property of the statewide golf trail in a manner
54 consistent with state and federal law which ensures that
55 Enterprise Florida, Inc., and its licensees have exclusive use
56 of such name, brand, proprietary marks, and other intellectual
57 property.
58 (4) Enterprise Florida, Inc., is encouraged to enter into
59 licensing arrangements or contracts with golf courses, tourism
60 promotion agencies, and other golf industry businesses which
61 facilitate the efficient, cost-effective, and successful
62 financing, development, and promotion of the statewide golf
63 trail. However, Enterprise Florida, Inc., may not accept any
64 financial responsibility or liability for the creation of the
65 statewide golf trail or its related activities but may receive
66 compensation for licensing under subsection (3).
67 (5) The Department of Economic Opportunity, the Florida
68 Tourism Industry Marketing Corporation, and other economic
69 development and tourism promotion agencies at the state and
70 local levels shall support the development, branding, and
71 promotion of the statewide golf trail.
72 (6) By February 1 of each year, beginning in 2012,
73 Enterprise Florida, Inc., shall submit an annual report to the
74 President of the Senate and the Speaker of the House of
75 Representatives on the progress and success of the statewide
76 golf trail.
77 Section 2. Paragraph (c) of subsection (5) and subsection
78 (7) of section 288.9913, Florida Statutes, are amended to read:
79 288.9913 Definitions.—As used in ss. 288.991-288.9922, the
80 term:
81 (5) “Qualified active low-income community business” means
82 a corporation, including a nonprofit corporation, or partnership
83 that complies with each of the following:
84 (c) Satisfies the requirements of paragraphs (a) and (b),
85 but does not:
86 1. Derive or project to derive 15 percent or more of its
87 annual revenue from the rental or sale of real estate, unless
88 the corporation or partnership derives such revenue from the
89 rental of real estate and the primary lessee and user of such
90 real estate is another qualified active low-income community
91 business that is owned or controlled by, or that is under common
92 ownership or control with, such corporation or partnership;
93 2. Engage predominantly in the development or holding of
94 intangibles for sale or license;
95 3. Operate a private or commercial golf course, country
96 club, massage parlor, hot tub facility, suntan facility,
97 racetrack, gambling facility, or a store the principal business
98 of which is the sale of alcoholic beverages for consumption off
99 premises; or
100 4. Engage principally in farming and owns or leases assets
101 the sum of the aggregate unadjusted bases or the fair market
102 value of which exceeds $500,000.
103 (7) “Qualified investment” means an equity investment in,
104 or a long-term debt security issued by, a qualified community
105 development entity that:
106 (a) Is issued solely in exchange for cash; and
107 (b) Is designated by the qualified community development
108 entity as a qualified investment under this paragraph and is
109 approved by the department as a qualified investment.
110
111 Notwithstanding any provision of this section, an investment
112 made by a qualified active low-income community business in a
113 project that includes a recreational or sports facility is a
114 qualified investment if the project, upon completion, is open
115 and accessible to and affordable by the public, including the
116 residents of the low-income community in which the project is
117 located.
118 Section 3. This act shall take effect July 1, 2012.