HB 1467 (2006) -  Capital Formation

General Bill by Grant (CO-SPONSORS) Carroll; Goldstein; Hasner; Williams, T.
Capital Formation: Creates the Florida Capital Formation Act; requires the Office of Tourism, Trade, and Economic Development to account for specified moneys separately within the Economic Development Trust Fund; requires the office to make specified funds available for investment by the State Board of Administration; provides for deducting specified fees and expenses; requires the State Board of Administration to liquidate investments and advance proceeds to the Florida Opportunity Fund; provides investment requirements for the State Board of Administration; provides operational requirements for the Florida Opportunity Fund; requires Enterprise Florida, Inc., to organize the Florida Opportunity Fund as a wholly owned private, not-for-profit limited liability Florida-based company; requires Enterprise Florida, Inc., to annually evaluate the company and report to the Governor and Legislature; provides for a board of directors for the company; provides for appointment and terms of board members; provides requirements and limitations for board members; requires board members to serve without compensation; provides for reimbursement of expenses of board members and company officers and employees; specifies powers of the company; authorizes the company to indemnify board members; specifies a fiduciary duty of board members and company officers and employees; subjects the company to public meetings and public records requirements; specifies duties of the company; requires the company to select a Florida Opportunity Fund allocation manager; specifies duties and requirements of the allocation manager; requires the company to guarantee private capital investments in the company; provides requirements for such guarantees; specifies investment requirements for the company; specifies investment limitations and prohibitions for the company; requires the company to issue an annual report to the Governor and the Legislature; specifies report requirements; provides for an independent audit; provides for a transfer of nonrecurring funds in the General Revenue Fund to the Economic Development Trust Fund for subsequent investment in the Florida Opportunity Fund; provides for retention of balances in the trust fund each year; provides for continuing appropriation and use of such moneys for a specified time period; provides for return of specified funds to the General Revenue Fund; requires the company to continue administering investments for specified purposes; provides for continuous reinvestment of specified funds by the company; provides for reversion of assets and funds of the company to the General Revenue Fund; prohibits Enterprise Florida, Inc., from selling or transferring ownership of the company.
Effective Date: July 1, 2006.
Last Event: 05/05/06 S Died in Messages on Friday, May 5, 2006 11:59 PM
Date Available for Final Passage: Tuesday, May 02, 2006 9:18 AM

Referred Committees and Committee Actions

House Referrals

Related Bills

Bill # Subject Relationship
Bill #: HB 1469 Subject: Public Records Relationship: Linked
Bill #: CS/CS/CS/SB 2668 Subject: Florida Capital Formation Act Relationship: Similar
Bill #: CS/CS/SB 2656 Subject: Florida Opportunity Fund/Pub. Rec. Relationship: Compare

Bill Text

Staff Analysis

Chamber Committee
Chamber: House Committee: Commerce Council 4/18/2006 12:05:35 PM
Chamber: House Committee: Commerce Council 4/18/2006 7:15:21 AM
Chamber: House Committee: Transportation & Economic Development Appropriations Committee 4/17/2006 8:24:09 PM
Chamber: House Committee: Transportation & Economic Development Appropriations Committee 4/17/2006 11:06:06 AM
Chamber: House Committee: Economic Development, Trade & Banking Committee 3/31/2006 3:55:36 PM
Chamber: House Committee: Economic Development, Trade & Banking Committee 3/28/2006 12:06:13 PM

Vote History

Chamber Date Yeas Nays Action Action 2 Vote Detail Barcode
Chamber: House Date: 05/01/2006 03:23 PM   Yeas: 114 Nays: 1 Action: Passage Action 2: Vote Detail: Vote [Seq# 1016] Barcode:

Bill History

Event Time Member Committee Ver.
Event: S Died in Messages Time: 05/05/2006 - 11:59 PM Member: Committee: Version: e1
Event: S In Messages Time: 05/01/2006 - 4:31 PM Member: Committee: Version: e1
Event: H Message sent to senate Time: 05/01/2006 - 4:13 PM Member: Committee: Version: e1
Event: H Passage on third reading Time: 05/01/2006 - 3:24 PM Member: Committee: Version: e1
Event: H Passed as amended; YEAS 114, NAYS 1 Time: 05/01/2006 - 3:23 PM Member: Committee: Version: e1
Event: H Read 3rd time Time: 05/01/2006 - 3:23 PM Member: Committee: Version: e1
Event: H Added to Third Reading Calendar Time: 04/28/2006 - 4:13 PM Member: Committee: Version: e1
Event: H Amendment 885023 adopted Time: 04/28/2006 - 9:18 AM Member: Committee: Version: c2
Event: H Amendment 766243 withdrawn Time: 04/28/2006 - 9:18 AM Member: Committee: Version: c2
Event: H Read 2nd time Time: 04/28/2006 - 9:16 AM Member: Committee: Version: c2
Event: H Bill added to Special Order Calendar (4/28/2006) Time: 04/26/2006 - 8:05 PM Member: Committee: Version: c2
Event: H Added to Second Reading Calendar Time: 04/26/2006 - 6:20 PM Member: Committee: Version: c2
Event: H Amendment 885023 filed late Time: 04/25/2006 - 2:45 PM Member: Committee: Version: c2
Event: H Bill added to Special Order Calendar (4/26/2006) Time: 04/24/2006 - 10:10 PM Member: Committee: Version: c2
Event: H Amendment 766243 filed Time: 04/21/2006 - 12:07 PM Member: Committee: Version: c2
Event: H Added to Second Reading Calendar Time: 04/18/2006 - 12:08 PM Member: Committee: Version: c2
Event: H Bill released to House Calendar Time: 04/18/2006 - 12:08 PM Member: Committee: Version: c2
Event: H Reported out of Commerce Council Time: 04/18/2006 - 12:08 PM Member: Committee: Commerce Council Version: c2
Event: H Favorable by Commerce Council Time: 04/18/2006 - 10:00 AM Member: Committee: Commerce Council Version: c2
Event: H Now in Commerce Council Time: 04/17/2006 - 9:11 PM Member: Committee: Commerce Council Version: c2
Event: H Pending review of CS under Rule 6.3 Time: 04/17/2006 - 8:24 PM Member: Committee: Version: c2
Event: H Reported out of Transportation & Economic Development Appropriations Committee Time: 04/17/2006 - 8:22 PM Member: Committee: Transportation & Economic Development Appropriations Committee Version: c1
Event: H Favorable with CS by Transportation & Economic Development Appropriations Committee Time: 04/17/2006 - 4:00 PM Member: Committee: Transportation & Economic Development Appropriations Committee Version: c1
Event: H Added to Commerce Council agenda Time: 04/14/2006 - 3:53 PM Member: Committee: Commerce Council Version: c1
Event: H Added to Transportation & Economic Development Appropriations Committee agenda Time: 04/13/2006 - 4:20 PM Member: Committee: Transportation & Economic Development Appropriations Committee Version: c1
Event: H Now in Transportation & Economic Development Appropriations Committee Time: 03/31/2006 - 4:07 PM Member: Committee: Transportation & Economic Development Appropriations Committee Version: c1
Event: H Remaining referral: Commerce Council Time: 03/31/2006 - 4:07 PM Member: Committee: Commerce Council Version: c1
Event: H Pending review of CS under Rule 6.3 Time: 03/31/2006 - 4:00 PM Member: Committee: Version: c1
Event: H Reported out of Economic Development, Trade & Banking Committee Time: 03/31/2006 - 3:56 PM Member: Committee: Economic Development, Trade & Banking Committee Version: __
Event: H Favorable with CS by Economic Development, Trade & Banking Committee Time: 03/30/2006 - 12:00 PM Member: Committee: Economic Development, Trade & Banking Committee Version: __
Event: H Added to Economic Development, Trade & Banking Committee agenda Time: 03/28/2006 - 11:54 AM Member: Committee: Economic Development, Trade & Banking Committee Version: __
Event: H Now in Economic Development, Trade & Banking Committee Time: 03/17/2006 - 2:33 PM Member: Committee: Economic Development, Trade & Banking Committee Version: __
Event: H Referred to Commerce Council Time: 03/17/2006 - 2:33 PM Member: Committee: Commerce Council Version: __
Event: H Referred to Transportation & Economic Development Appropriations Committee Time: 03/17/2006 - 2:33 PM Member: Committee: Transportation & Economic Development Appropriations Committee Version: __
Event: H Referred to Economic Development, Trade & Banking Committee Time: 03/17/2006 - 2:33 PM Member: Committee: Economic Development, Trade & Banking Committee Version: __
Event: H 1st Reading Time: 03/07/2006 - 11:59 PM Member: Committee: Version: __
Event: H Filed Time: 03/03/2006 - 5:21 PM Member: Grant Committee: Version: __

Statutes Referenced by this Bill

Statute Other Bill Citations
213.053 HB 77, HB 209, HB 711, HB 1249, HB 1321, HB 1473 CS, HB 7041, HB 7233 CS
213.053 HB 77, HB 209, HB 711, HB 1249, HB 1321, HB 1473 CS, HB 7041, HB 7233 CS
220.02 HB 729, HB 821, HB 1321, HB 1473 CS, HB 1575
220.02 HB 729, HB 821, HB 1321, HB 1473 CS, HB 1575
288.9621
624.509 HB 857, HB 7067
624.509 HB 857, HB 7067