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HB 7103 — OGSR/Florida Opportunity Fund and Institute for the Commercialization of Public Research

by Government Operations Subcommittee and Rep. Mayfield (SB 798 by Commerce and Tourism Committee)

This summary is provided for information only and does not represent the opinion of any Senator, Senate Officer, or Senate Office.

Prepared by: Commerce and Tourism Committee (CM)

This bill is the result of the Commerce and Tourism Committee’s Open Government Sunset Review (Interim Report 2012-303) of the public records and public meetings exemption for the Florida Opportunity Fund and the Institute for the Commercialization of Public Research. The exemptions will expire October 2, 2012, unless saved from repeal through reenactment by the Legislature and approval by the Governor.

In 2007, the Legislature created the Florida Opportunity Fund (FOF) and the Institute for the Commercialization of Public Research (institute) to provide certain types of businesses access to capital – both public and private investments – that would assist them in reaching their full potential as job-creators. Additionally, the Legislature created exemptions from the state’s public records and public meetings laws, under specified circumstances, for both entities.

The Sunset Review recommended re-enactment of the public records exemption and public meetings exemption in s. 288.9626, F.S., with a few changes. The key change separates the portions related to the FOF and the institute into two separate statutes to make the exemption clear as it applies to each entity. These changes clarify, but do not expand, the scope of the current statutory exemptions.

If approved by the Governor, these provisions take effect October 1, 2012

Vote: Senate 39-0; House 114-0