Florida Senate - 2025 COMMITTEE AMENDMENT Bill No. SB 1264 Ì8805081Î880508 LEGISLATIVE ACTION Senate . House Comm: WD . 03/31/2025 . . . . ————————————————————————————————————————————————————————————————— ————————————————————————————————————————————————————————————————— The Committee on Commerce and Tourism (Collins) recommended the following: 1 Senate Amendment (with title amendment) 2 3 Delete lines 1307 - 1389. 4 Delete lines 4970 - 5083. 5 6 ================= T I T L E A M E N D M E N T ================ 7 And the title is amended as follows: 8 Delete lines 76 - 253 9 and insert: 10 288.1167, F.S.; revising the sports franchise contract 11 provisions for food and beverage concession and 12 contract awards; amending s. 288.12266, F.S.; revising 13 the purpose of the Targeted Marketing Assistance 14 Program to include businesses in rural or urban areas; 15 amending s. 288.1229, F.S.; revising the 16 representational criteria for the board of directors 17 of the Florida Sports Foundation; amending s. 288.124, 18 F.S.; deleting a requirement that the Florida Tourism 19 Industry Marketing Corporation give preference to 20 specified governments and groups seeking to attract 21 minority conventions in this state; amending s. 22 288.7015, F.S.; revising the duties of the state’s 23 rules ombudsman; amending s. 288.702, F.S.; renaming 24 the Florida Small and Minority Business Assistance Act 25 as the Florida Small Business Act; conforming a cross 26 reference; amending s. 288.703, F.S.; defining, 27 deleting, and revising terms; amending s. 288.705, 28 F.S.; requiring that the Small Business Development 29 Center, in coordination with Minority Business 30 Development Centers, compile and distribute certain 31 information to small businesses and businesses located 32 in rural or urban areas, rather than to minority 33 businesses; revising the information to be provided by 34 the Small Business Development Center in its annual 35 report to the Department of Commerce; amending s. 36 288.776, F.S.; deleting a membership requirement of 37 the board of directors of the Florida Export Finance 38 Corporation; creating s. 288.9628, F.S.; providing 39 legislative findings; establishing the Research, 40 Innovation, Science, and Engineering (RISE) Investment 41 Tax Credit Program within the Department of Commerce; 42 providing the purpose for the program; requiring the 43 department to coordinate with the Florida Opportunity 44 Fund and the State Board of Administration for a 45 specified purpose; defining terms; requiring an 46 applicant to apply to the department for authorization 47 to claim tax credits; requiring the department to 48 review and act upon such application within a 49 specified timeframe; requiring the applicant to 50 provide certain information required by the 51 department; specifying the information that must be 52 included in the application; requiring an applicant to 53 update its application if there has been a material 54 change; prohibiting tax credits from exceeding a 55 specified amount in a fiscal year; prohibiting the 56 department from issuing a tax credit to a qualifying 57 private fund until the private fund demonstrates it 58 has received its total capital commitment; prohibiting 59 the department from authorizing more than a specified 60 amount of tax credits to a qualifying private fund in 61 a fiscal year; requiring a qualifying private fund to 62 provide documentation to show that the qualifying 63 investment meets the department’s requirements to 64 issue a tax credit; providing that follow-on or add-on 65 capital commitments may only be considered after the 66 follow-on or add-on investment has been deployed; 67 requiring a qualifying private fund to make a 68 specified number of qualified investments in a 69 specified number of qualifying portfolio projects to 70 be eligible for a tax credit; specifying the 71 information that must be included in the submission by 72 a qualifying private fund; authorizing a qualifying 73 private fund to receive tax credits equivalent to a 74 certain percentage of a qualifying investment in a 75 qualifying portfolio company; requiring the department 76 to authorize the Department of Revenue to issue tax 77 credits to a qualifying private fund if certain 78 requirements are met; prohibiting the Department of 79 Revenue from issuing more than a specified fraction of 80 the tax credits authorized for a qualifying investment 81 in a qualifying portfolio company in a fiscal year; 82 authorizing credits received to be applied against the 83 qualifying private fund’s corporate income tax 84 liability; authorizing a qualifying private fund to 85 transfer or sell any portion of its tax credit; 86 requiring such transfer or sale to take place within a 87 specified timeframe, after which the credit expires; 88 prohibiting such transfer or sale if the department 89 authorizes the credit but the Department of Revenue 90 has not yet issued such credit; authorizing the 91 department to revoke or modify its previous decisions 92 if it is discovered that the qualifying private fund 93 submitted any false statement, representation, or 94 certification in its application or if information in 95 a previous application materially changes; requiring 96 the department to notify the Department of Revenue of 97 any such revocation or modification affecting 98 previously granted tax credits; requiring the 99 qualifying private fund to notify the Department of 100 Revenue of any change in its tax credit claimed; 101 requiring that a qualifying private fund must annually 102 report to the department for each investment within a 103 specified timeframe in order to remain eligible to 104 receive tax credits; providing that failure to do so 105 will result in the qualifying private fund’s tax 106 credit being revoked; requiring a qualifying private 107 fund to submit specified information to the department 108 in order to receive a tax credit; providing 109 construction; requiring the department to include 110 specified information in its annual incentives report 111 beginning on a specified date and annually thereafter; 112 authorizing the department to adopt rules; amending s. 113 290.0056, F.S.; conforming provisions to changes made 114 by the act; amending s. 290.0057, F.S.; revising 115 enterprise zone development plan requirements to 116 include business investment corporations in rural or 117 urban areas; amending s. 331.302, F.S.; providing that 118 Space Florida is not an agency for purposes of its 119 ability to bid and contract for certain professional 120 and construction services under certain circumstances, 121 and is therefore exempt from certain requirements; 122 providing that monies received by the person under 123 contract with Space Florida to provide certain goods 124 and services are not state or local government funds; 125 amending s. 331.351, F.S.; revising legislative intent 126 that rural or urban business enterprises, rather than 127 women, minorities, and socially and economically 128 disadvantaged business enterprises, be encouraged to 129 participate fully in specified development; amending 130 s. 445.004, F.S.; deleting minority and gender 131 representation as criteria for the Governor to 132 consider when choosing the members of the state board 133 of CareerSource Florida, Inc.; amending s. 445.007, 134 F.S.; deleting minority and gender representation as a 135 consideration when making appointments to the local 136 workforce development boards or to any committees 137 established by the local workforce development board; 138 amending s. 445.08, F.S.; revising the minimum 139 eligibility requirements for the Florida Law 140 Enforcement Recruitment Bonus Payment Program for 141 newly employed law enforcement officers; deleting an 142 expiration date; amending s. 447.203, F.S.; revising 143 the definition of the term “managerial employees”; 144 authorizing local governments to enter into agreements 145 to create regional planning entities; amending ss. 146 17.11, 68.082, 120.52, 120.525, 120.65, 163.3164, 147 163.3177, 163.3178, 163.3184, 163.3245, 163.568, 148 164.1031, 186.003, 186.006, 186.007, 186.008, 186.803, 149 187.201, 218.32, 255.101, 255.102, 258.501, 260.0142, 150 287.042, 287.055, 287.057, 287.0943, 288.7031, 151 288.975, 290.004, 320.08058, 320.63, 335.188, 339.155, 152 339.175, 339.285, 339.63, 339.64, 341.041, 343.54, 153 366.93, 369.303, 369.307, 373.309, 373.415, 377.703, 154 378.411, 380.031, 380.045, 380.05, 380.055, 380.06, 155 380.061, 380.07, 380.23, 380.507, 381.986, 403.031, 156 403.0752, 403.503, 403.50663, 403.507, 403.509, 157 403.5115, 403.5175, 403.518, 403.522, 403.5251, 158 403.526, 403.5271, 403.5272, 403.5363, 403.5365, 159 403.537, 403.704, 403.7225, 403.7226, 403.723, 160 403.9403, 403.941, 403.9422, 403.973, 408.033, 161 409.901, 420.609, 440.45, 473.3065, 501.171, 625.3255, 162 627.3511, 641.217, 657.042, 658.67, 947.02, 947.021, 163 1004.435, and 1013.30, F.S.; conforming provisions to 164 changes made by the act; revising and conforming 165 cross-references; making technical changes; reenacting 166 s. 288.0001(2)(b),