HB 257 2023
CODING: Words stricken are deletions; words underlined are additions.
hb0257-00
Page 1 of 6
F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
A bill to be entitled 1
An act relating to higher educational facilities 2
financing; amending s. 243.51, F.S.; modifying 3
legislative findings and declarations regarding the 4
Higher Education Facilities Financing Act; amending s. 5
243.53, F.S.; specifying when the term for a new 6
appointee to the Higher Educational Facilities 7
Financing Authority begins; defining the term 8
"communications media technology"; revising a 9
requirement for when action may be taken by the 10
authority; authorizing the authority to conduct 11
meetings and workshops by means of communications 12
media technology; providing notice requirements for 13
meetings and workshops; amending s. 243.54, F.S.; 14
authorizing the authority to contract with an entity 15
to assist with administrative matters; amending s. 16
243.58, F.S.; prohibiting the authority from entering 17
into a financing agreement with a participating 18
institution for a project if at the time the agreement 19
is executed certain con ditions exist; amending s. 20
243.73, F.S.; revising the timeframe within which the 21
authority is required to submit a report to the 22
Governor and the Legislature; providing an effective 23
date. 24
25
HB 257 2023
CODING: Words stricken are deletions; words underlined are additions.
hb0257-00
Page 2 of 6
F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
Be It Enacted by the Legislature of the State of Florida: 26
27
Section 1. Section 243.51, Florida Statutes, is amended to 28
read: 29
243.51 Findings and declarations. —It is the purpose of ss. 30
243.50-243.77 to provide a measure of assistance and an 31
alternative method for enabling private institutions of higher 32
education in of this state to provide the facilities and 33
structures that they need and to enable those institutions to 34
coordinate their budgetary needs with the timing of receipt of 35
tuition revenues. The necessity of the public interest of the 36
provisions hereinafter enacted is hereby declared as a matter of 37
legislative determination. 38
Section 2. Subsections (2) and (5) of section 243.53, 39
Florida Statutes, are amended to read: 40
243.53 Creation of Higher Educational Facilities Financing 41
Authority.— 42
(2) The authority shall consist of five members to be 43
appointed by the Governor, subject to confirmation by the 44
Senate. One member shall be a trustee, director, officer, or 45
employee of an institution of higher education. Of the members 46
first appointed, one shall serve fo r 1 year, one for 2 years, 47
one for 3 years, one for 4 years, and one for 5 years, and in 48
each case until his or her successor is appointed and has 49
qualified. Thereafter, the Governor shall appoint for terms of 5 50
HB 257 2023
CODING: Words stricken are deletions; words underlined are additions.
hb0257-00
Page 3 of 6
F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
years each a member or members to succeed th ose whose terms 51
expire, beginning on the later of the dates on which the current 52
term expires or the date of appointment by the Governor . The 53
Governor shall fill any vacancy for an unexpired term. A member 54
of the authority is eligible for reappointment. An y member of 55
the authority may be removed by the Governor for misfeasance, 56
malfeasance, or willful neglect of duty. Each member of the 57
authority before entering upon his or her duties shall take and 58
subscribe to the oath or affirmation required by the State 59
Constitution. A record of each oath must be filed in the office 60
of the Department of State and with the authority. 61
(5)(a) As used in this subsection, the term 62
"communications media technology" means telephone conference, 63
video conference, or other commu nications technology by which 64
all persons attending a public meeting or workshop may audibly 65
communicate. 66
(b) A majority of the members of the authority constitutes 67
a quorum, and the affirmative vote of a majority of the members 68
participating in the present at a meeting of the authority is 69
necessary for any action taken by the authority. A vacancy in 70
the membership of the authority does not impair the right of a 71
quorum to exercise all the rights and perform all the duties of 72
the authority. Any action take n by the authority under ss. 73
243.50-243.77 may be authorized by resolution at any regular or 74
special meeting, and each resolution takes shall take effect 75
HB 257 2023
CODING: Words stricken are deletions; words underlined are additions.
hb0257-00
Page 4 of 6
F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
immediately and does need not need to be published or posted. 76
The authority may conduct public meeting s and workshops by means 77
of communications media technology. The notice for any such 78
public meeting or workshop must state that the meeting or 79
workshop will be conducted through the use of communications 80
media technology, must specify how persons intereste d in 81
attending may do so, and must provide a location where 82
communications media technology facilities are available. The 83
participation by an officer, a board member, or any other 84
representative of a member public agency in a meeting or 85
workshop conducted through communications media technology 86
constitutes that individual's presence at such meeting or 87
workshop. 88
Section 3. Subsection (16) of section 243.54, Florida 89
Statutes, is amended to read: 90
243.54 Powers of the authority. —The purpose of the 91
authority is to assist institutions of higher education in 92
constructing, financing, and refinancing projects throughout the 93
state and, for this purpose, the authority may: 94
(16) Contract with an entity as its agent to assist the 95
authority with administrative mat ters and in screening 96
applications of institutions of higher education for loans under 97
ss. 243.50-243.77 and receive any recommendations the entity may 98
make. 99
Section 4. Subsection (2) of section 243.58, Florida 100
HB 257 2023
CODING: Words stricken are deletions; words underlined are additions.
hb0257-00
Page 5 of 6
F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
Statutes, is amended to read: 101
243.58 Criteria and requirements. —In undertaking any 102
project under ss. 243.50 -243.77, the authority shall be guided 103
by and shall observe the following criteria and requirements: 104
(2) A financing agreement for a project may not be entered 105
into with a participating institution that is not , at the time 106
such agreement is executed, financially responsible and fully 107
capable of and willing to fulfill its obligations under the 108
financing agreement, including the obligations to make payments 109
in the amounts and at the times r equired; to operate, repair, 110
and maintain at its own expense the project owned or leased; and 111
to serve the purposes of ss. 243.50 -243.77 and any other 112
responsibilities that may be imposed under the financing 113
agreement. In determining the financial responsi bility of the 114
participating institution, consideration will must be given to 115
the party's ratio of current assets to current liabilities; net 116
worth; endowments; pledges; earning trends; coverage of all 117
fixed charges; the nature of the project involved; its inherent 118
stability; any guarantee of the obligations by some other 119
financially responsible corporation, firm, or person; means by 120
which the bonds are to be marketed to the public; and other 121
factors determinative of the capability of the participating 122
institution, financially and otherwise, to fulfill its 123
obligations consistently with the purposes of ss. 243.50 -243.77. 124
Section 5. Subsection (1) of section 243.73, Florida 125
HB 257 2023
CODING: Words stricken are deletions; words underlined are additions.
hb0257-00
Page 6 of 6
F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
Statutes, is amended to read: 126
243.73 Reports; audits. — 127
(1) The authority shall s ubmit to the Governor and the 128
presiding officers of each house of the Legislature, within 6 2 129
months after the end of its fiscal year, a complete and detailed 130
report setting forth: 131
(a) Its operations and accomplishments. 132
(b) Its receipts and expenditur es during its fiscal year 133
in accordance with the categories or classifications established 134
by the authority for its operating and capital outlay purposes. 135
(c) Its assets and liabilities at the end of its fiscal 136
year and the status of reserve, special, or other funds. 137
(d) A schedule of its bonds outstanding at the end of its 138
fiscal year, together with a statement of the principal amounts 139
of bonds issued and redeemed during the fiscal year. 140
(e) Any other information the authority deems appropriate. 141
Section 6. This act shall take effect July 1, 2023. 142