Bill > S1264

Introduced Session

An act relating to rural and urban business enterprises; repealing ss. 24.113, 186.501, 186.502, 186.503, 186.504, 186.505, 186.506, 186.507, 186.508, 186.509, 186.511, 186.512, 186.513, 186.515, 287.0931, 288.12266, 288.124, 288.706, 288.7094, 288.7102, 288.71025, 288.7103, 288.714, and 331.351, F.S., relating to minority participation; a short title; legislative findings and public purpose; definitions relating to the Florida Regional Planning Council Act; regional planning councils, creation, and membership; regional planning councils, powers and duties; the Executive Office of the Governor, powers and duties; strategic regional policy plans; strategic regional policy plan adoption, consistency with state comprehensive plan; dispute resolution process; evaluation of strategic regional policy plan, changes in plan; designation of regional planning councils; reports; creation of regional planning councils under ch. 163, F.S.; minority business enterprises; the Targeted Marketing Assistance Program; convention grants program; the Florida Minority Business Loan Mobilization Program; black business investment corporations; the Black Business Loan Program; prohibited acts and penalties; eligibility for a loan, loan guarantee, or investment; quarterly and annual reports; and encouragement for the participation by women, minorities, and socially disadvantaged business enterprises, respectively; amending s. 20.60, F.S.; revising the purpose of the Department of Commerce; revising the responsibilities of the Division of Economic Development within the department; assigning responsibility to the division for the Office of Secure Florida within the department; specifying the responsibilities of the office; amending s. 212.08, F.S.; deleting a prohibition that the Department of Revenue may not issue temporary tax exemption certificates after a specified date; amending s. 253.025, F.S.; providing an exemption for Federal Government agencies regarding land being reverted to the Board of Trustees of the Internal Improvement Trust Fund if land conveyances are at less than the appraised value; amending s. 287.012, F.S.; deleting the definition of the term “minority business enterprise”; amending s. 287.042, F.S.; conforming provisions to changes made by the act; amending s. 287.09451, F.S.; revising legislative findings; renaming the Office of Supplier Diversity as the Office of Supplier Development; specifying that the purpose and duties of the office are to assist rural or urban business enterprises, rather than minority business enterprises; conforming a provision to changes made by the act; making technical changes; amending s. 287.0947, F.S.; renaming the Florida Advisory Council on Small and Minority Business Development as the Florida Advisory Council on Small, Rural, and Urban Business Development; revising the composition of the council’s membership; revising the council’s powers and duties; conforming a cross reference; amending s. 288.001, F.S.; revising the criteria for membership of the statewide advisory board of the Florida Small Business Development Center Network; amending s. 288.0065, F.S.; revising the list of information that must be included in the Department of Commerce’s annual incentives report; amending s. 288.1167, F.S.; revising the sports franchise contract provisions for food and beverage concession and contract awards; amending s. 288.1229, F.S.; revising the representational criteria for the board of directors of the Florida Sports Foundation; amending s. 288.7015, F.S.; revising the duties of the state’s rules ombudsman; amending s. 288.702, F.S.; renaming the Florida Small and Minority Business Assistance Act as the Florida Small Business Act; conforming a cross reference; amending s. 288.703, F.S.; defining, deleting, and revising terms; amending s. 288.705, F.S.; requiring the Small Business Development Center, in coordination with Minority Business Development Centers, to compile and distribute certain information to small businesses and businesses located in rural or urban areas, rather than to minority businesses; revising the list of information that must be included by the Small Business Development Center in its annual report to the Department of Commerce; amending s. 288.776, F.S.; deleting a membership requirement of the board of directors of the Florida Export Finance Corporation; creating s. 288.9628, F.S.; providing legislative findings; establishing the Research, Innovation, Science, and Engineering (RISE) Investment Tax Credit Program within the Department of Commerce; providing the purpose for the program; requiring the department to coordinate with the Florida Opportunity Fund and the State Board of Administration for a specified purpose; defining terms; requiring an applicant to apply to the department for authorization to claim tax credits; requiring the department to review and act upon such application within a specified timeframe; requiring the applicant to provide certain information required by the department; specifying the information that must be included in the application; requiring an applicant to update its application if there has been a material change; prohibiting tax credits from exceeding a specified amount in a fiscal year; prohibiting the department from issuing a tax credit to a qualifying private fund until the private fund demonstrates it has received its total capital commitment; prohibiting the department from authorizing more than a specified amount of tax credits to a qualifying private fund in a fiscal year; requiring a qualifying private fund to provide documentation to show that the qualifying investment meets the department’s requirements to issue a tax credit; providing that follow-on or add-on capital commitments may only be considered after the follow-on or add-on investment has been deployed; requiring a qualifying private fund to make a specified number of qualified investments in a specified number of qualifying portfolio projects to be eligible for a tax credit; specifying the information that must be included in the submission by a qualifying private fund; authorizing a qualifying private fund to receive tax credits equivalent to a certain percentage of a qualifying investment in a qualifying portfolio company; requiring the department to authorize the Department of Revenue to issue tax credits to a qualifying private fund if certain requirements are met; prohibiting the Department of Revenue from issuing more than a specified fraction of the tax credits authorized for a qualifying investment in a qualifying portfolio company in a fiscal year; authorizing credits received to be applied against the qualifying private fund’s corporate income tax liability; authorizing a qualifying private fund to transfer or sell any portion of its tax credit; requiring such transfer or sale to take place within a specified timeframe, after which the credit expires; prohibiting such transfer or sale if the department authorizes the credit but the Department of Revenue has not yet issued such credit; authorizing the department to revoke or modify its previous decisions if it is discovered that the qualifying private fund submitted any false statement, representation, or certification in its application or if information in a previous application materially changes; requiring the department to notify the Department of Revenue of any such revocation or modification affecting previously granted tax credits; requiring the qualifying private fund to notify the Department of Revenue of any change in its tax credit claimed; requiring that a qualifying private fund annually report to the department for each investment within a specified timeframe in order to remain eligible to receive tax credits; providing that failure to do so will result in the qualifying private fund’s tax credit being revoked; requiring a qualifying private fund to submit specified information to the department in order to receive a tax credit; requiring the department to revoke its approval of tax credits for the qualifying investment if it fails to meet certain requirements; requiring the department to issue a notice of revocation and recapture to the qualifying private fund and the Department of Revenue; requiring such qualifying private fund to repay to the department an amount equal to a certain percentage of the tax credits authorized by the department and claimed by a qualifying portfolio company for the qualifying investment; requiring that such funds be deposited into the General Revenue Fund; providing construction; requiring the department to include specified information in its annual incentives report beginning on a specified date and annually thereafter; requiring that a certain percentage of tax credits be made available during a specified period of time for a specified purpose; requiring that all remaining tax credits be made available during a specified period of time on a first-come, first-served basis, subject to eligibility of the qualifying investment; authorizing the department to adopt rules; amending s. 290.0056, F.S.; conforming provisions to changes made by the act; amending s. 290.0057, F.S.; revising enterprise zone development plan requirements to include business investment corporations in rural or urban areas; amending s. 331.302, F.S.; providing that Space Florida is not an agency for purposes of its ability to bid and contract for certain professional and construction services under certain circumstances, and is therefore exempt from certain requirements; providing that moneys received by the person under contract with Space Florida to provide certain goods and services are not state or local government funds; amending s. 445.08, F.S.; revising the minimum eligibility requirements for the Florida Law Enforcement Recruitment Bonus Payment Program for newly employed law enforcement officers; deleting an expiration date; amending s. 447.203, F.S.; revising the definition of the term “managerial employees”; authorizing local governments to enter into agreements to create regional planning entities; amending ss. 17.11, 68.082, 120.52, 120.525, 120.65, 163.3164, 163.3177, 163.3178, 163.3184, 163.3245, 163.568, 164.1031, 186.003, 186.006, 186.007, 186.008, 186.803, 187.201, 212.096, 218.32, 255.101, 255.102, 258.501, 260.0142, 287.055, 287.057, 287.0943, 287.09431, 288.0001, 288.7031, 288.975, 290.004, 320.08058, 335.188, 339.155, 339.175, 339.285, 339.63, 339.64, 341.041, 343.54, 366.93, 369.303, 369.307, 373.309, 373.415, 376.3072, 377.703, 378.411, 380.031, 380.045, 380.05, 380.055, 380.06, 380.061, 380.07, 380.23, 380.507, 381.986, 403.031, 403.0752, 403.503, 403.50663, 403.507, 403.509, 403.5115, 403.5175, 403.518, 403.522, 403.526, 403.5271, 403.5272, 403.5363, 403.5365, 403.537, 403.704, 403.7225, 403.7226, 403.723, 403.9403, 403.941, 403.9422, 403.973, 408.033, 420.609, 473.3065, 501.171, 625.3255, 657.042, 658.67, and 1013.30, F.S.; conforming provisions to changes made by the act; revising and conforming cross-references; making technical changes; reenacting s. 110.205(2)(w), F.S., relating to career service exemptions, to incorporate the amendment made to s. 447.203, F.S., in references thereto; reenacting ss. 163.3162(2)(d) and 373.129(8), F.S., relating to agricultural lands and practices and maintenance of actions, respectively, to incorporate the amendment made to s. 164.1031, F.S., in references thereto; reenacting s. 339.2819(1) and (3), F.S., relating to the Transportation Regional Incentive Program, to incorporate the amendment made to s. 339.155, F.S., in references thereto; reenacting s. 380.0552(5) and (6), F.S., relating to the Florida Keys Area, to incorporate the amendments made to ss. 380.045 and 380.05, F.S., in references thereto; reenacting s. 403.5064(1)(a), F.S., relating to application schedules, to incorporate the amendment made to s. 403.507, F.S., in a reference thereto; reenacting ss. 403.5251(1)(a) and 403.5271(1)(d) and (f), F.S., relating to application and schedules and alternate corridors, respectively, to incorporate the amendment made to s. 403.526, F.S., in references thereto; reenacting s. 403.9421(5)(c), F.S., relating to fees and disposition, to incorporate the amendment made to s. 403.941, F.S., in a reference thereto; providing an effective date.

AI Summary

Committee Categories

Jay Collins (R)*, 

Other Sponsors (2)

Died in Rules, companion bill(s) passed, see SB 2502 (Ch. 2025-199) (on 06/16/2025)

Official Document