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The Committee on Commerce (Oelrich) recommended the following

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amendment:

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     Senate Amendment (with title amendment)

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     Delete everything after the enacting clause

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and insert:

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     Section 1.  Section 288.9552, Florida Statutes, is created

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to read:

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     288.9552 Florida Research Commercialization Matching Grant

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Program. --

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     (1) PURPOSE; GOALS AND OBJECTIVES; CREATION OF PROGRAM.--

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     (a) The purpose of the Florida Research Commercialization

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Matching Grant Program is to increase the amount of federal

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funding coming to this state which will produce the kind of

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distinctive technologies that drive today's knowledge-based

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economy. By leveraging federal, state, and private-sector

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resources, the program intends to accelerate the innovation

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process and more efficiently transform research results into

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products in the marketplace.

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     (b) The matching grant program is specifically intended to

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be a catalyst for small or startup companies that can take

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advantage of federal and state partnerships in order to

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accelerate their growth and market penetration by helping to

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overcome the funding gap faced by many small companies that are

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based in this state. Specific goals and objectives of the

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program include:

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     1. Increasing the amount of federal research moneys

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received by small businesses in this state through awards from

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the Small Business Innovation Research Program and Small

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Business Technology Transfer Program of the Office of Technology

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of the United States Small Business Administration.

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     2. Accelerating the entry of new technology-based products

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into the marketplace.

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     3. Producing additional technology-based jobs for the

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state.

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     4. Providing leveraged resources to increase the

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effectiveness and success of applicants' projects.

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     5. Speeding commercialization of promising technologies.

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     6. Encouraging the establishment and growth of high-

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quality, advanced technology firms in the state.

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     7. Accelerating deal flow and enhancing the state's

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investment infrastructure.

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     (c) The Florida Research Commercialization Matching Grant

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Program is created for the purpose of accomplishing the goals

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and objectives specified in this section.

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     (2) ADMINISTRATION.-- Enterprise Florida's Technology,

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Entrepreneurship and Capital Committee, or a subcommittee

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thereof with no less than seven members, shall develop

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programmatic policy, ensure statewide applicability of the

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matching grant program, establish criteria for grant awards,

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approve grant awards, and review program progress and results.

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     (a) Members of the committee shall serve without

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compensation.

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     (b) Enterprise Florida, Inc., shall provide staff support

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for the committee.

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     (c) Applications for matching grant awards must be

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reviewed and approved or denied within 45 days of receipt of

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application.

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     (d) Beginning December 1; 2009, and annually thereafter,

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the committee shall transmit an annual report to the Governor,

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the President of the Senate, and the Speaker of the House of

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Representatives for the previous fiscal year.

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     (3) ELIGIBILITY GUIDELINES.-- A qualified applicant shall:

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     (a) Be a business entity that is registered with the

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Secretary of State to operate in this state. The qualified

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applicant must also have its primary office and a majority of its

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employees domiciled in Florida, and the principal research

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activities must be conducted in the state.

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     (b) Be a small company for which a state matching grant is

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necessary for project development and implementation.

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     (c) Have received a federal Small Business Innovation

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Research Program or Small Business Technology Transfer Program

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Phase I award and have received an invitation to submit an

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application for a Phase II award. If a Phase II award has

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already been issued, the end date of the federal award must be

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identified and justification must be provided as to how these

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additional funds will enhance, not supplant, the existing award.

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     (d) Utilize federal, local, and private resources to the

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maximum extent possible. Total project funding shall

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demonstrate:

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     1. Private sector investments to offset the total cost of

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the project and

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     2. No more than 25 percent of the project's total funding

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is provided by the state grant.

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     (e) Projects funded by the matching grant program shall be

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conducted in this state.

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     (4) PROGRAM ADMINISTRATOR.-- Subject to appropriations,

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Enterprise Florida, Inc., shall serve as program administrator.

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Enterprise Florida, Inc., may contract for the performance of

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technology review and related functions with a third party. Not

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more than 10 percent of a legislative appropriation may be used

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for administrative purposes. The responsibilities of the program

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administrator include, but are not limited to:

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     (a) Coordinating and supporting the grant review,

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approval, and contracting activities;

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     (b) Administering the grant-selection process, including,

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but not limited to, issuing open-call requests for grant

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applications and receiving, reviewing, and processing grant

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applications;

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     (c) Serving as grant contract manager for recipients of a

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matching grant;

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     (d) Reporting program progress and results; and

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     (e) Establishing a mechanism by which information

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regarding grant projects may be made available to facilitate

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additional angel, seed, or venture capital investment.

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     (5) FIDUCIARY.-- Enterprise Florida, Inc., shall award

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money to a qualified applicant if:

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     (a) The committee approves the award;

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     (b) The qualified applicant demonstrates that it has

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obtained a federal Small Business Innovation Research Program or

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Small Business Technology Transfer Program Phase II award; and

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     (c) The qualified applicant executes a performance

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contract with Enterprise Florida, Inc.

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Enterprise Florida, Inc., shall release funds to a qualified

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applicant upon completion of all contract requirements.

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     (6) AWARDS.-- The matching grant program may make one-time

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awards up to $250,000 per project to a qualified applicant.

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     Section 2. The nonrecurring sum of $5 million is

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appropriated from the General Revenue Fund to Enterprise

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Florida, Inc., for the 2008-2009 fiscal year for the purpose of

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implementing s. 288.9552, Florida Statutes.

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     Section 3. This act shall take effect upon becoming a law.

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================ T I T L E  A M E N D M E N T ================

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And the title is amended as follows:

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     Delete everything before the enacting clause

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and insert:

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A bill to be entitled

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An act relating to the Florida Research Commercialization

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Matching Grant Program; creating s. 288.9552, F.S.;

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providing legislative findings and intent; creating the

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program; designating an existing Enterprise Florida, Inc.,

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committee for certain purposes; providing committee

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members must serve without compensation; providing a

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deadline for processing applications; requiring reports;

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providing applicant eligibility guidelines; providing for

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a program administrator; providing responsibilities of the

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program administrator; providing for program

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administrative costs; designating a fiduciary entity;

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specifying eligibility requirements; providing for awards;

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providing an appropriation; providing an effective date.

3/31/2008  2:49:00 PM     CM.CM.06244