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SB 684 — State Economic Enhancement and Development Trust Fund/ Department of Economic Opportunity

by Senator Gardiner

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

Prepared by: Appropriations Committee (AP)

The bill recreates, without modification, the State Economic Enhancement and Development Trust Fund within the Department of Economic Opportunity. The trust fund, which was created on July 1, 2011, by Chapter 2011-138, L.O.F., was scheduled to be terminated on July 1, 2015.

  • Section 288.1201, F.S., provides that the trust fund was created for the purpose of infrastructure and job creation opportunities and for the following purposes or programs:
  • Transportation facilities that meet a strategic and essential state interest with respect to the economic development of the state;
  • Affordable housing programs and projects in accordance with chapter 420, F.S.;
  • Economic development incentives for job creation and capital investment;
  • Workforce training associated with locating a new business or expanding an existing business; and
  • Tourism promotion and marketing services, functions, and programs.

The bill has no fiscal impact on state or local funds.

If approved by the Governor, these provisions take effect July 1, 2014.

Vote: Senate 40-0; House 117-0