| 1 | The Transportation & Economic Development Appropriations |
| 2 | Committee recommends the following: |
| 3 |
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| 4 | Council/Committee Substitute |
| 5 | Remove the entire bill and insert: |
| 6 | A bill to be entitled |
| 7 | An act relating to the Florida Aerospace Infrastructure |
| 8 | Investment Trust Fund; creating s. 331.508, F.S.; creating |
| 9 | the Florida Aerospace Infrastructure Investment Trust Fund |
| 10 | within the Office of Tourism, Trade, and Economic |
| 11 | Development; specifying funding as contingent upon |
| 12 | legislative appropriation; providing for uses of funds; |
| 13 | providing for future review and termination or re-creation |
| 14 | of the fund; providing a contingent effective date. |
| 15 |
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| 16 | Be It Enacted by the Legislature of the State of Florida: |
| 17 |
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| 18 | Section 1. Section 331.508, Florida Statutes, is created |
| 19 | to read: |
| 20 | 331.508 Florida Aerospace Infrastructure Trust Fund.-- |
| 21 | (1) The Florida Aerospace Infrastructure Investment Trust |
| 22 | Fund is created within, and shall be administered by, the Office |
| 23 | of Tourism, Trade, and Economic Development. Moneys credited to |
| 24 | the fund shall be contingent upon legislative appropriation. |
| 25 | Funds shall be used by the Office of Tourism, Trade, and |
| 26 | Economic Development as grants in aid to further the Florida |
| 27 | Aerospace Infrastructure Program of the Florida Aerospace |
| 28 | Finance Corporation. |
| 29 | (2) In accordance with s. 19(f)(2), Art. III of the State |
| 30 | Constitution, the trust fund shall, unless terminated sooner, be |
| 31 | terminated July 1, 2009. Before its scheduled termination, the |
| 32 | trust fund shall be reviewed as provided in s. 215.3206(1) and |
| 33 | (2). |
| 34 | Section 2. This act shall take effect July 1, 2005, only |
| 35 | if enacted by a three-fifths vote of the membership of each |
| 36 | house of the Legislature and only if HB 1701 or similar |
| 37 | legislation is enacted during the same legislative session or an |
| 38 | extension thereof and becomes law. |