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The Florida Senate

HB 1491: Capital Formation for Infrastructure Projects

GENERAL BILL by Eisnaugle

Capital Formation for Infrastructure Projects; Creates Florida Infrastructure Fund Partnership; provides for management of partnership by Florida Opportunity Fund; authorizes fund to lend moneys to partnership; requires partnership to raise funds from investment partners; provides for commitment agreements with & issuance of certificates to investment partners; authorizes partnership to invest in certain infrastructure projects; prohibits partnership from pledging credit or taxing power of state; prohibits investments with certain companies; creates Florida Infrastructure Investment Trust; provides for trust's issuance of certificates to investment partners; specifies that certificates guarantee availability of tax credits; authorizes trust to charge fees; limits amount of tax credits that may be claimed or applied against state taxes in any year; provides for redemption of certificates or sale of tax credits; provides for issuance of tax credits by DOR; specifies taxes against which credits may be applied; limits period within which tax credits may be used; provides for state's obligation for use of tax credits; limits liability of fund; provides for transferability of certificates & tax credits; requires DOR to provide certain written assurance to trust; specifies that certain securities transaction requirements do not apply to certificates & tax credits transferred or sold under act; authorizes DOR to disclose certain information to partnership & trust relative to certain tax credits.

Effective Date: 7/1/2012
Last Action: 3/9/2012 Senate - Died in Commerce and Tourism
Bill Text: PDF
Senate Committee References:
  1. Commerce and Tourism (CM)
  2. Budget (BC)

Bill History

Date Chamber Action
1/12/2012 House • Filed
• Referred to Business and Consumer Affairs Subcommittee; Finance and Tax Committee; Economic Affairs Committee -HJ 211
• Introduced -HJ 211
1/20/2012 House • On Committee agenda-- Business and Consumer Affairs Subcommittee, 01/24/12, 8:00 am, 12 HOB
1/24/2012 House • Favorable by Business and Consumer Affairs Subcommittee; YEAS 14 NAYS 0 -HJ 262
• Now in Finance and Tax Committee -HJ 262
1/30/2012 House • On Committee agenda-- Finance and Tax Committee, 02/01/12, 1:00 pm, Morris Hall
2/1/2012 House • Favorable by Finance and Tax Committee; YEAS 19 NAYS 3 -HJ 457
2/2/2012 House • Now in Economic Affairs Committee -HJ 457
2/6/2012 House • On Committee agenda-- Economic Affairs Committee, 02/08/12, 8:00 am, Reed Hall
2/8/2012 House • Favorable by- Economic Affairs Committee; YEAS 14 NAYS 0 -HJ 573
2/9/2012 House • Placed on Calendar -HJ 573
2/20/2012 House • Placed on Special Order Calendar, 02/22/12
2/22/2012 House • Read 2nd time -HJ 725
• Placed on 3rd reading
2/23/2012 House • Read 3rd time -HJ 778
• Passed; YEAS 97 NAYS 15 -HJ 778
2/24/2012 Senate • In Messages
3/5/2012 Senate • Received -SJ 831
• Referred to Commerce and Tourism; Budget -SJ 831
3/9/2012 Senate • Died in Commerce and Tourism