| 1 | A bill to be entitled |
| 2 | An act relating to small business assistance; amending s. |
| 3 | 288.703, F.S.; revising criteria for the definition of the |
| 4 | term "small business" for purposes of the Florida Small |
| 5 | and Minority Business Assistance Act; providing an |
| 6 | effective date. |
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| 8 | Be It Enacted by the Legislature of the State of Florida: |
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| 10 | Section 1. Subsection (1) of section 288.703, Florida |
| 11 | Statutes, is amended to read: |
| 12 | 288.703 Definitions.--As used in this act, the following |
| 13 | words and terms shall have the following meanings unless the |
| 14 | content shall indicate another meaning or intent: |
| 15 | (1) "Small business" means an independently owned and |
| 16 | operated business concern with fewer than 100 employees, with |
| 17 | annual revenues of $300,000 to $20 million, and that has been |
| 18 | operating for at least 2 years, that employs 200 or fewer |
| 19 | permanent full-time employees and that, together with its |
| 20 | affiliates, has a net worth of not more than $5 million or any |
| 21 | firm based in this state which has a Small Business |
| 22 | Administration 8(a) certification. As applicable to sole |
| 23 | proprietorships, the $5 million net worth requirement shall |
| 24 | include both personal and business investments. |
| 25 | Section 2. This act shall take effect July 1, 2009. |