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A bill to be entitled

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An act relating to economic development; amending s.

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288.1088, F.S.; providing for the resources of the Quick

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Action Closing Fund to be made available to less populated

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areas that have suitable resources to accommodate growth

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and have adopted a conceptual long-term buildout overlay

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to the comprehensive plan and a detailed specific area

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plan; providing that resources be made available to pursue

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high-impact business facilities in areas that seek

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economic development and have adopted an optional sector

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plan; providing an appropriation and certain conditions

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with respect thereto; providing an effective date.

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Be It Enacted by the Legislature of the State of Florida:

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     Section 1.  Subsection (1) of section 288.1088, Florida

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Statutes, is amended to read:

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     288.1088  Quick Action Closing Fund.--

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     (1)(a)  The Legislature finds that attracting, retaining,

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and providing favorable conditions for the growth of certain

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high-impact business facilities, privately developed critical

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rural infrastructure, or key facilities in economically

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distressed urban or rural communities which provide widespread

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economic benefits to the public through high-quality employment

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opportunities in such facilities or in related facilities

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attracted to the state, through the increased tax base provided

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by the high-impact facility and related businesses, through an

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enhanced entrepreneurial climate in the state and the resulting

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business and employment opportunities, and through the

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stimulation and enhancement of the state's universities and

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community colleges. In the global economy, there exists serious

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and fierce international competition for these facilities, and in

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most instances, when all available resources for economic

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development have been used, the state continues to encounter

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severe competitive disadvantages in vying for these business

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facilities. Florida's rural areas must provide a competitive

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environment for business in the information age. This often

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requires an incentive to make it feasible for private investors

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to provide infrastructure in those areas. The state's less

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populated regions that seek economic development, that have

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suitable land and water resources to accommodate growth in an

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environmentally acceptable manner, and that have adopted a

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conceptual long-term buildout overlay to the comprehensive plan

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under s. 163.3184 and a detailed specific area plan that

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implements the conceptual long-term buildout overlay to the

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comprehensive plan must be provided incentives to actively pursue

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high-impact business facilities that will serve as a catalyst to

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stimulate economic growth.

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     (b)  The Legislature therefore declares that sufficient

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resources shall be available to respond to extraordinary economic

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opportunities and to compete effectively for these high-impact

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business facilities, critical private infrastructure in rural

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areas, and key businesses in economically distressed urban or

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rural communities. Sufficient resources shall also be made

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available to actively pursue high-impact business facilities that

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will stimulate economic growth in regions of the state which seek

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economic development and have adopted an optional sector plan

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pursuant to s. 163.3245.

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     Section 2. The sum of $50 million is appropriated from

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nonrecurring general revenue to the Office of Tourism, Trade, and

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Economic Development in the 2008-2009 fiscal year for the express

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purpose of providing an incentive to actively pursue attracting a

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high-impact business facility or facilities that will serve as a

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catalyst to stimulate economic growth in a region of the state

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which seeks economic development and which has adopted under s.

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163.3184, Florida Statutes, a conceptual long-term buildout

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overlay to the comprehensive plan and a detailed specific area

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plan that implements the conceptual long-term buildout overlay to

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the comprehensive plan and that includes an airport or seaport.

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Projects must meet the eligibility requirements of s. 288.1088,

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Florida Statutes, and funds shall be released in accordance with

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that section. Notwithstanding s. 216.301, Florida Statutes, funds

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appropriated by this act shall not revert, but shall remain

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available to meet the intent of this section through June 30,

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2018.

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     Section 3.  This act shall take effect July 1, 2008.