Bill Text: FL S2476 | 2010 | Regular Session | Comm Sub

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Bill Title: Space Business Investment & Financial Services TF [CPSC]

Spectrum: Partisan Bill (Republican 1-0)

Status: (Failed) 2010-04-30 - Died in Committee on Transportation and Economic Development Appropriations [S2476 Detail]

Download: Florida-2010-S2476-Comm_Sub.html

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Florida Senate - 2010                             CS for SB 2476 
 
By the Committee on Commerce; and Senator Altman 
577-03659-10                                          20102476c1 
1                        A bill to be entitled 
2         An act relating to trust funds; creating the Space 
3         Business Investment and Financial Services Trust Fund 
4         within the Office of Tourism, Trade, and Economic 
5         Development in the Executive Office of the Governor; 
6         providing the purpose of the fund; providing sources 
7         of funds; providing uses for the fund; providing for 
8         the balance in the trust fund to be carried forward at 
9         the end of each fiscal year; providing for future 
10         review and termination or re-creation of the trust 
11         fund; providing a contingent effective date. 
12 
13  Be It Enacted by the Legislature of the State of Florida: 
14 
15         Section 1. The Space Business Investment and Financial 
16  Services Trust Fund.— 
17         (1) The Space Business Investment and Financial Services 
18  Trust Fund is created within the Office of Tourism, Trade, and 
19  Economic Development in the Executive Office of the Governor. 
20  Moneys to be credited to the trust fund shall consist of 
21  nonrecurring funds appropriated from the General Revenue Fund to 
22  the Office of Tourism, Trade, and Economic Development pursuant 
23  to CS for SB 2500, or similar legislation that becomes law in 
24  the 2010 legislative session, and any recurring revenues as 
25  specified in law. 
26         (2) The Space Business Investment and Financial Services 
27  Trust Fund shall be used exclusively to provide investment and 
28  financial services to new, expanding, and relocating space 
29  businesses, programs, and projects within this state pursuant to 
30  s. 331.3051, Florida Statutes, and as authorized by s. 331.305, 
31  Florida Statutes. The trust fund may not be used for personnel, 
32  administrative, or overhead expenses of Space Florida, other 
33  than expenses or charges directly associated with administration 
34  and reporting of the fund and the fund’s account. 
35         (3) Notwithstanding s. 216.301, Florida Statutes, and 
36  pursuant to s. 216.351, Florida Statutes, any balance in the 
37  trust fund at the end of any fiscal year shall remain in the 
38  trust fund and be available for carrying out the purposes of the 
39  trust fund. 
40         (4) In accordance with s. 19(f)(2), Article III of the 
41  State Constitution, the Space Business Investment and Financial 
42  Services Trust Fund shall, unless terminated sooner, be 
43  terminated on July 1, 2014. Before its scheduled termination, 
44  the trust fund shall be reviewed as provided in s. 215.3206(1) 
45  and (2), Florida Statutes. 
46         Section 2. This act shall take effect July 1, 2010, if CS 
47  for SB 2500 or similar legislation is adopted in the same 
48  legislative session or an extension thereof and becomes law.