Florida 2024 Regular Session

Florida House Bill H0141 Compare Versions

Version 1 (Old)

Version 2 (New)

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7	7		CODING: Words stricken are deletions; words underlined are additions.
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10	10		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
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14		-	1
	14	+	A bill to be entitled 1
15	15		An act relating to economic development; amending s. 2
16	16		288.018, F.S.; removing the requirement that certain 3
17	17		grants received by a regional economic development 4
18	18		organization must be matched in a certain manner; 5
19	19		removing a provision requiring a certain 6
20	20		consideration; removing certain demonstration 7
21	21		requirements of program applicants; amending s. 8
22	22		288.8013, F.S.; removing the requirement that certain 9
23	23		interest be deposited in a specified manner; providing 10
24	24		that specified earnings may be retained and used to 11
25	25		make specified awards or for administrative costs; 12
26	26		providing an effective date. 13
27	27		14
28	28		Be It Enacted by the Legislature of the State of Florida: 15
29	29		16
30	30		Section 1. Paragraphs (b), (c), and (d) of subsection (1) 17
31	31		and subsection (2) of section 288.018, Florida Statutes, are 18
32	32		amended to read: 19
33	33		288.018 Regional Rural Development Grants Program. — 20
34	34		(1) 21
35	35		(b) The department shall establish a matching grant 22
36	36		program to provide fundin g to regional economic development 23
37	37		organizations for the purpose of building the professional 24
38	38		capacity of those organizations. Building the professional 25
39		-	~~ENROLLED~~
40		-	CS/HB 141 2024 ~~Legislature~~
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	40	+	CS/HB 141 2024
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47	47		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
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51	51		capacity of a regional economic development organization 26
52	52		includes hiring professional staff to develop, deliver, and 27
53	53		provide needed economic development professional services, 28
54	54		including technical assistance, education and leadership 29
55	55		development, marketing, and project recruitment. Matching Grants 30
56	56		may also be used by a regional economic development organizat ion 31
57	57		to provide technical assistance to local governments, local 32
58	58		economic development organizations, and existing and prospective 33
59	59		businesses. 34
60	60		(c) A regional economic development organization may apply 35
61	61		annually to the department for a matching grant. The department 36
62	62		is authorized to approve, on an annual basis, grants to such 37
63	63		regional economic development organizations. The maximum amount 38
64	64		an organization may receive in any year will be $50,000, or 39
65	65		$250,000 for any three regional economic development 40
66	66		organizations that serve an entire region of a rural area of 41
67	67		opportunity designated pursuant to s. 288.0656(7) if they are 42
68	68		recognized by the department as serving such a region. 43
69	69		(d) Grant funds received by a regional economic 44
70	70		development organization must be mat ched each year by nonstate 45
71	71		resources in an amount equal to 25 percent of the state 46
72	72		contribution. 47
73	73		(2) In approving the participants, the department shall 48
74	74		consider the demonstrated need of the applicant for assistance 49
75	75		and require the following: 50
76		-	~~ENROLLED~~
77		-	CS/HB 141 2024 ~~Legislature~~
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84	84		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
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88	88		(a) Documentation of official commitments of support from 51
89	89		each of the units of local government represented by the 52
90	90		regional organization. 53
91	91		(b) Demonstration that each unit of local government has 54
92	92		made a financial or in -kind commitment to the regional 55
93	93		organization. 56
94	94		(c) Demonstration that the private sector has made 57
95	95		financial or in-kind commitments to the regional organization. 58
96	96		(b)(d) Demonstration that the organization is in existence 59
97	97		and actively involved in economic development activities serving 60
98	98		the region. 61
99	99		(c)(e) Demonstration of the manner in which the 62
100	100		organization is or will coordinate its efforts with those of 63
101	101		other local and state organizations. 64
102	102		Section 2. Upon the expiration and reversion of the 65
103	103		amendments made to s. 288.8013, Florida Statutes, pursuant to 66
104	104		section 64 of chapter 2023 -240, Laws of Florida, subsection (3) 67
105	105		of section 288.8013, Florida Statutes, is amended to read: 68
106	106		288.8013 Triumph Gulf Coast, Inc.; creation; funding; 69
107	107		investment.— 70
108	108		(3) Triumph Gulf Coast, Inc., shall establish a tr ust 71
109	109		account at a federally insured financial institution to hold 72
110	110		funds received from the Triumph Gulf Coast Trust Fund and make 73
111	111		deposits and payments. Interest earned in the trust account 74
112	112		shall be deposited monthly into the Triumph Gulf Coast Trust 75
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114		-	CS/HB 141 2024 ~~Legislature~~
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121	121		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
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125	125		Fund. Triumph Gulf Coast, Inc., may invest surplus funds in the 76
126	126		Local Government Surplus Funds Trust Fund, pursuant to s. 77
127	127		218.407. Earnings generated by investments and interest of the 78
128	128		fund may be retained and used to make awards pursuant to this 79
129	129		act or, notwithstanding paragraph (2)(d), for administrative 80
130	130		costs, including costs in excess of the cap , and interest 81
131	131		earned, net of fees, shall be transferred monthly into the 82
132	132		Triumph Gulf Coast Trust Fund . Administrative costs may include 83
133	133		payment of travel and per diem expenses of board members, 84
134	134		audits, salary or other costs for employed or contracted staff, 85
135	135		including required staff under s. 288.8014(9), and other 86
136	136		allowable costs. The annual salary for any employee or 87
137	137		contracted staff may not exceed $130,000, and associ ated 88
138	138		benefits may not exceed 35 percent of salary. 89
139	139		Section 3. This act shall take effect July 1, 2024. 90