The Florida Senate

Advising the Office of Tourism, Trade, and Economic Development in its oversight of the Black Business Loan Program and assisting in the creation of a long-range strategic policy for the program.

Evaluating the unmet need for capital by black business enterprises in the state.

Creating partnerships between federal, state, and local governments, private enterprises, and national organizations to aid in the development and expansion of black business enterprises.

Providing a network of information resources for black business enterprises and providing technical assistance through this network.

There is created a not-for-profit corporation to be known as the “Florida Black Business Investment Board, Inc.,” referred to in ss. 288.707-288.714 as the board, which shall be registered, incorporated, organized, and operated in compliance with chapter 617 and which must not be a unit or entity of state government. The Legislature determines, however, that public policy dictates that the board operate in the most open and accessible manner consistent with its public purpose. Therefore, the Legislature specifically declares that the board and its advisory committees or similar groups created by the board, including any subsidiaries, are subject to the provisions of chapter 119, relating to public records, and the provisions of chapter 286, relating to public meetings and records.

The board shall contract with the Office of Tourism, Trade, and Economic Development to implement the provisions of ss. 288.707-288.714.

Four members appointed by the Governor who shall serve terms of 4 years each, except that in making initial appointments, the Governor shall appoint three members to serve for terms of 2 years each and two members to serve for terms of 3 years each.

One member appointed by the President of the Senate who shall serve a term of 2 years.

One member appointed by the Speaker of the House of Representatives who shall serve a term of 2 years.

The vice chair of Enterprise Florida, Inc., or his or her designee, who shall be an ex officio, nonvoting member.

Two at-large members selected by the board of directors who are nationally known for their achievements in finance, small business development, or economic development.

Four presidents of participating black business investment corporations who shall be appointed by the Executive Director of the Office of Tourism, Trade, and Economic Development upon the recommendation of the Florida Consortium of Black Business Investment Corporations, Inc., to serve for terms of 3 years each. Each shall be eligible for reappointment to one additional term of 3 years.