Florida Senate - 2024                        COMMITTEE AMENDMENT
       Bill No. SB 196
       
       
       
       
       
       
                                Ì605750ÊÎ605750                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: RCS            .                                
                  01/11/2024           .                                
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       The Appropriations Committee on Transportation, Tourism, and
       Economic Development (Trumbull) recommended the following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Before line 13
    4  insert:
    5         Section 1. Notwithstanding the expiration and reversion in
    6  section 65 of chapter 2023-240, Laws of Florida, subsection (3)
    7  of section 288.8013, Florida Statutes, is reenacted to read:
    8         288.8013 Triumph Gulf Coast, Inc.; creation; funding;
    9  investment.—
   10         (3) Triumph Gulf Coast, Inc., shall establish a trust
   11  account at a federally insured financial institution to hold
   12  funds received from the Triumph Gulf Coast Trust Fund and make
   13  deposits and payments. Triumph Gulf Coast, Inc., may invest
   14  surplus funds in the Local Government Surplus Funds Trust Fund,
   15  pursuant to s. 218.407. Earnings generated by investments and
   16  interest of the fund may be retained and used to make awards
   17  pursuant to this act or, notwithstanding paragraph (2)(d), for
   18  administrative costs, including costs in excess of the cap.
   19  Administrative costs may include payment of travel and per diem
   20  expenses of board members, audits, salary or other costs for
   21  employed or contracted staff, including required staff under s.
   22  288.8014(9), and other allowable costs. The annual salary for
   23  any employee or contracted staff may not exceed $130,000, and
   24  associated benefits may not exceed 35 percent of salary.
   25  
   26  ================= T I T L E  A M E N D M E N T ================
   27  And the title is amended as follows:
   28         Delete lines 2 - 3
   29  and insert:
   30         An act relating to economic development; amending s.
   31         288.8013, F.S.; carrying forward the authority of
   32         Triumph Gulf Coast, Inc., to retain earnings generated
   33         by investments and interests earned; amending s.
   34         288.018, F.S.; deleting