HB 1355

1	A bill to be entitled
2	An act relating to Space Florida; creating s. 288.1087,
3	F.S.; providing legislative intent; creating the Space and
4	Aerospace Development Infrastructure Enhancement Fund in
5	the Office of Tourism, Trade, and Economic Development;
6	providing for moneys from the funds to be distributed to
7	successful applicants to upgrade space-related
8	infrastructure, to enter into partnerships with applicable
9	businesses on space-related projects, or to provide
10	incentives for space-related ventures; requiring that
11	certain information be included in the application for
12	funding; requiring the Office of Tourism, Trade, and
13	Economic Development to procure an economic impact
14	assessment model that evaluates the costs, benefits,
15	useful life, and other relevant factors related to space
16	and aerospace infrastructure projects; describing the
17	criteria by which the applicants will be judged as
18	eligible to receive funding; requiring the executive board
19	of Space Florida and the director of the Office of
20	Tourism, Trade, and Economic Development to recommend
21	approval or disapproval of proposed projects; providing
22	for the Governor to decide which proposed projects receive
23	Space and Aerospace Development Infrastructure Enhancement
24	Funds; requiring the director of the Office of Tourism,
25	Trade, and Economic Development and the successful
26	applicant to enter into a contract that sets forth the
27	conditions for receiving moneys from the fund; describing
28	the content of the contract; requiring Enterprise Florida,
29	Inc., to validate the performance of the contractor;
30	requiring that the validation be complete within a
31	specified time; providing an appropriation; providing a
32	contingent effective date.
33
34	Be It Enacted by the Legislature of the State of Florida:
35
36	Section 1.  Section 288.1087, Florida Statutes, is created
37	to read:
38	288.1087  The Space and Aerospace Development
39	Infrastructure Enhancement Fund.--
40	(1)(a)  The Legislature finds that attracting, retaining,
41	partnering with, and providing favorable conditions for space
42	and aerospace infrastructure and businesses that provide
43	widespread economic benefit to the public is in the state's best
44	interest. State investment in the space and aerospace industry
45	can help provide high-quality employment opportunities for
46	residents of this state, increase the tax base, invigorate the
47	entrepreneurial climate in the state through the resulting
48	business and employment opportunities, and stimulate and enhance
49	the state's universities and community colleges. In the global
50	economy there exists international competition for space and
51	aerospace infrastructure, facilities, and business
52	opportunities, and in most instances, when all available
53	resources for economic development have been used, the state
54	encounters competitive disadvantages. This state must provide a
55	competitive environment for aerospace and space business in the
56	information age. This often requires an incentive to make it
57	feasible for private investors to provide infrastructure in
58	those areas.
59	(b)  The Legislature intends for this section to attract
60	and benefit future partners attempting to launch in Florida that
61	qualify for this fund.
62	(c)  The Legislature, therefore, declares that sufficient
63	resources must be made available to respond to extraordinary
64	economic opportunities in the space and aerospace business, to
65	address the need for space and aerospace business facilities and
66	infrastructure, and to compete for key space and aerospace
67	businesses interested in entering into partnerships with the
68	state.
69	(2)  There is created in the Office of Tourism, Trade, and
70	Economic Development the Space and Aerospace Development
71	Infrastructure Enhancement Fund to be available for use by Space
72	Florida. The moneys from the fund, which will be distributed to
73	successful applicants, shall be used to provide or upgrade
74	space-related infrastructure, enter into partnerships with
75	applicable businesses on space-related projects, or otherwise
76	provide incentives for space-related ventures and may be used
77	for collateral for bonds. These funds shall not be used for
78	workforce or education initiatives.
79	(3)  The Office of Tourism, Trade, and Economic Development
80	shall procure an economic impact assessment model that evaluates
81	the costs, benefits, useful life, and other relevant factors
82	related to space and aerospace infrastructure projects. The
83	economic impact assessment model must be available for use by
84	Space Florida and the Office of Tourism, Trade, and Economic
85	Development no later than December 31, 2008.
86	(4)  Projects eligible to receive Space and Aerospace
87	Development Infrastructure Enhancement funds must:
88	(a)  Assist Space Florida in carrying out its
89	responsibilities under part II of chapter 331;
90	(b)  Create or retain high-quality, high-salary jobs in the
91	space or aerospace industry in this state;
92	(c)  Be an inducement to the project's location or
93	expansion in the state;
94	(d)  Be supported by the local community in which the
95	project is to be located;
96	(e)  Be able to match the state investment; and
97	(f)  Have undergone an economic analysis.
98	(5)(a)  After receiving the economic impact assessment, the
99	Space Florida executive board and the director of the Office of
100	Tourism, Trade, and Economic Development shall meet to recommend
101	approval or disapproval of each proposed project. For projects
102	recommended to receive funds, the board and director shall rank
103	each proposal in the order of its meeting the established
104	criteria. When recommending a project, Space Florida and the
105	director of the Office of Tourism, Trade, and Economic
106	Development must include proposed performance conditions that
107	the project must meet in order to obtain money from the fund.
108	(b)  The recommendations shall be sent to the Governor who
109	shall further evaluate the projects approved for funding. The
110	Governor shall consult with the President of the Senate and the
111	Speaker of the House of Representatives before giving final
112	approval for a project.
113	(c)  The Executive Office of the Governor shall present the
114	recommended projects and request that project funds be released
115	pursuant to the legislative consultation and review requirements
116	set forth in s. 216.177. The recommendations must include
117	proposed performance conditions that each project is expected to
118	meet in order to receive funds.
119	(d)  After receiving the required approvals, the director
120	of the Office of Tourism, Trade, and Economic Development and
121	the recipient shall enter into a contract that sets forth the
122	conditions for receiving moneys from the fund. The contract must
123	include the total amount of funds awarded, the performance
124	conditions that must be met in order to obtain the award, a
125	baseline of current service and a measure of enhanced
126	capability, the methodology for validating performance, the
127	schedule of payments from the fund, and sanctions for failure to
128	meet performance conditions. The contract must state that
129	payment of moneys from the Space and Aerospace Development
130	Infrastructure Enhancement Fund is contingent upon sufficient
131	appropriation of funds by the Legislature and upon sufficient
132	release of appropriated funds by the Legislative Budget
133	Commission.
134	Section 2.  This act shall take effect July 1, 2008, if
135	House Bill 1357, or similar legislation, is adopted in the same
136	legislative session or an extension thereof and becomes law.

CODING: Words stricken are deletions; words underlined are additions.