Florida Senate - 2017                        COMMITTEE AMENDMENT
       Bill No. CS for SB 364
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: RCS            .                                
                  04/06/2017           .                                

       The Committee on Appropriations (Gainer) recommended the
    1         Senate Amendment (with title amendment)
    3         Delete everything after the enacting clause
    4  and insert:
    5         Section 1. Section 288.80, Florida Statutes, is amended to
    6  read:
    7         288.80 Short title—This section and ss. 288.8011-288.8018
    8  ss. 288.8011-288.8017 may be cited as the “Gulf Coast Economic
    9  Corridor Act.”
   10         Section 2. Section 288.8012, Florida Statutes, is amended
   11  to read:
   12         288.8012 Definitions.—As used in ss. 288.8011-288.8018 ss.
   13  288.80-288.8017, the term:
   14         (1) “Awardee” means a person, organization, or local
   15  government granted an award of funds as authorized in s.
   16  288.8017 from the Recovery Fund for a project or program.
   17         (2)“Department” means the Department of Economic
   18  Opportunity.
   19         (3)(2) “Disproportionately affected county” means Bay
   20  County, Escambia County, Franklin County, Gulf County, Okaloosa
   21  County, Santa Rosa County, Walton County, or Wakulla County.
   22         (4)“Public infrastructure” means roads, bridges, seaports,
   23  rail transport, traffic signalization, underground and above
   24  ground utilities, transmission and storage of fossil fuels and
   25  renewable sources; hazardous waste disposal and handling,
   26  information storage and distribution, and distribution and
   27  maintenance of water supply; and disposal and treatment of
   28  wastewater.
   29         (3)“Earnings” means all the income generated by
   30  investments and interest.
   31         (5)(4)“Settlement agreement” means the agreement entitled
   32  “Settlement Agreement Between the Gulf States and the BP
   33  Entities with Respect to Economic and Other Claims Arising from
   34  the Deepwater Horizon Incident,” which was entered into on
   35  October 5, 2015, in the case styled In re: Oil Spill by the Oil
   36  Rig Deepwater Horizon in the Gulf of Mexico, on April 20,
   37  2010, MDL 2179 in the United States District Court for the
   38  Eastern District of Louisiana “Recovery Fund” means a trust
   39  account established by Triumph Gulf Coast, Inc., for the benefit
   40  of the disproportionately affected counties.
   41         Section 3. Section 288.8013, Florida Statutes, is amended
   42  to read:
   43         288.8013 Triumph Gulf Coast, Inc.; Recovery Fund; creation;
   44  funding; investment.—
   45         (1) There is created within the department of Economic
   46  Opportunity a nonprofit corporation, to be known as Triumph Gulf
   47  Coast, Inc., which shall be registered, incorporated, organized,
   48  and operated in compliance with chapter 617, and which is not a
   49  unit or entity of state government. Triumph Gulf Coast, Inc.,
   50  may receive, hold, invest, and administer the Recovery Fund in
   51  support of this act. Triumph Gulf Coast, Inc., is a separate
   52  budget entity and is not subject to control, supervision, or
   53  direction by the department of Economic Opportunity in any
   54  manner, including, but not limited to, personnel, purchasing,
   55  transactions involving real or personal property, and budgetary
   56  matters.
   57         (2) Seventy-five percent of all payments to the state
   58  pursuant to the settlement agreement shall be transferred
   59  immediately from the General Revenue Fund to the Triumph Gulf
   60  Coast Trust Fund within the department to be allocated by the
   61  board of directors of the Triumph Gulf Coast, Inc. Triumph Gulf
   62  Coast, Inc., must create and administer the Recovery Fund for
   63  the benefit of the disproportionately affected counties. The
   64  principal of the fund shall derive from 75 percent of all funds
   65  recovered by the Attorney General for economic damage to the
   66  state resulting from the Deepwater Horizon disaster, after
   67  payment of reasonable and necessary attorney fees, costs, and
   68  expenses, including such attorney fees, costs, and expenses
   69  pursuant to s. 16.0155.
   70         (a)Seventy-five percent of the moneys received by the
   71  state before June 30, 2017, shall be immediately transferred to
   72  Triumph Gulf Coast, Inc., and up to 0.75 percent of such moneys
   73  may be used to pay administrative costs. Forty percent of the
   74  remaining moneys shall be allocated by the board to projects
   75  identified in s. 288.8017 in the eight disproportionately
   76  affected counties, with no county receiving less than 5 percent
   77  of the total allocation. Any remaining funds shall be allocated
   78  by the board to projects identified in s. 288.8017 in any
   79  disproportionately affected county to address impacts of the
   80  Deepwater Horizon event.
   81         (b)Seventy-five percent of the moneys received by the
   82  state after July 1, 2017, pursuant to the settlement agreement
   83  shall be deposited in the Triumph Gulf Coast Trust Fund for
   84  appropriation by the Legislature. Up to 0.75 percent of such
   85  moneys may be used to pay for administrative costs. Thirty-two
   86  percent of the remaining funds appropriated shall be allocated
   87  by the board to projects identified in s. 288.8017 to the eight
   88  disproportionately affected counties, with no county receiving
   89  less than 4 percent of each settlement distribution to the
   90  state. The funds remaining shall be allocated by the board to
   91  projects identified in s. 288.8017.
   92         (c) Notwithstanding s. 216.301, and pursuant to s. 216.351,
   93  funds transferred under this section to the trust fund for the
   94  2017-2018 fiscal year may be expended at any time before the end
   95  of the 2018-2019 fiscal year.
   96         (3) The Recovery Fund must be maintained as a long-term and
   97  stable source of revenue, which shall decline over a 30-year
   98  period in equal amounts each year. Triumph Gulf Coast, Inc.,
   99  shall establish a trust account at a federally insured financial
  100  institution to hold funds transferred or appropriated to it from
  101  the Triumph Gulf Coast Trust Fund and make deposits and
  102  payments. Interest earned in the trust account shall be
  103  deposited monthly into the Triumph Gulf Coast Trust Fund.
  104  Triumph Gulf Coast, Inc., may invest surplus funds in the Local
  105  Government Surplus Funds Trust Fund, pursuant to s. 218.407, and
  106  interest earned, net of fees, shall be transferred monthly into
  107  the Triumph Gulf Coast Trust Fund. Earnings generated by
  108  investments and interest of the fund, plus the amount of
  109  principal available each year, shall be available to make awards
  110  pursuant to this act and pay administrative costs. Earnings
  111  shall be accounted for separately from principal funds set forth
  112  in subsection (2). Administrative costs may not exceed the
  113  amounts specifically appropriated for this purpose and may are
  114  limited to 2.25 percent of the earnings in a calendar year.
  115  Administrative costs include payment of investment fees, travel
  116  and per diem expenses of board members, audits, salary or other
  117  costs for employed or contracted staff, including required staff
  118  under s. 288.8014(9), and other allowable costs. The annual
  119  salary for any employee or contracted staff may not exceed
  120  $130,000 and associated benefits may not exceed 35 percent of
  121  salary. Any funds remaining in the Recovery Fund after 30 years
  122  shall revert to the State Treasury.
  123         (4)Triumph Gulf Coast, Inc., shall invest and reinvest the
  124  principal of the Recovery Fund in accordance with s. 617.2104,
  125  in such a manner not to subject the funds to state or federal
  126  taxes, and consistent with an investment policy statement
  127  adopted by the corporation.
  128         (a)The board of directors shall formulate an investment
  129  policy governing the investment of the principal of the Recovery
  130  Fund. The policy shall pertain to the types, kinds, or nature of
  131  investment of any of the funds, and any limitations, conditions
  132  or restrictions upon the methods, practices, or procedures for
  133  investment, reinvestments, purchases, sales, or exchange
  134  transactions, provided such policies shall not conflict with nor
  135  be in derogation of any state constitutional provision or law.
  136  The policy shall be formulated with the advice of the financial
  137  advisor in consultation with the State Board of Administration.
  138         (b)Triumph Gulf Coast, Inc., must competitively procure
  139  one or more money managers, under the advice of the financial
  140  advisor in consultation with the State Board of Administration,
  141  to invest the principal of the Recovery Fund. The applicant
  142  manager or managers may not include representatives from the
  143  financial institution housing the trust account for the Recovery
  144  Fund. The applicant manager or managers must present a plan to
  145  invest the Recovery Fund to maximize earnings while prioritizing
  146  the preservation of Recovery Fund principal. Any agreement with
  147  a money manager must be reviewed by Triumph Gulf Coast, Inc.,
  148  for continuance at least every 5 years. Plans should include
  149  investment in technology and growth businesses domiciled in, or
  150  that will be domiciled in, this state or businesses whose
  151  principal address is in this state.
  152         (c)Costs and fees for investment services shall be
  153  deducted from the earnings as administrative costs. Fees for
  154  investment services shall be no greater than 150 basis points.
  155         (d)Annually, Triumph Gulf Coast, Inc., shall cause an
  156  audit to be conducted of the investment of the Recovery Fund by
  157  the independent certified public accountant retained in s.
  158  288.8014. The expense of such audit shall be paid from earnings
  159  for administrative purposes.
  160         (4)(5) Triumph Gulf Coast, Inc., shall report on June 30
  161  and December 30 each year to the Governor, the President of the
  162  Senate, and the Speaker of the House of Representatives on the
  163  financial status of the Recovery Fund and its investments, the
  164  established priorities, the project and program selection
  165  process, including a list of all submitted projects and programs
  166  and reasons for approval or denial, and the status of all
  167  approved awards.
  168         (5)(6) The Auditor General shall conduct an operational
  169  audit of the Recovery Fund and Triumph Gulf Coast, Inc.,
  170  annually. Triumph Gulf Coast, Inc., shall provide to the Auditor
  171  General any detail or supplemental data required.
  172         Section 4. Subsections (2), (3), (4), (7), and (9) of
  173  section 288.8014, Florida Statutes, are amended to read:
  174         288.8014 Triumph Gulf Coast, Inc.; organization; board of
  175  directors.—
  176         (2) Triumph Gulf Coast, Inc., shall initially be governed
  177  by a five-member 5-member board of directors. Each of the
  178  Trustees of the State Board of Administration, the President of
  179  the Senate, and the Speaker of the House of Representatives
  180  shall each appoint one member from the private sector. As of the
  181  effective date of this act, the number of board members is
  182  increased to seven, with the President of the Senate and the
  183  Speaker of the House of Representatives each appointing an
  184  additional member from the private sector in one of the four
  185  least populous disproportionately affected counties as
  186  identified by the United States Census Bureau in its March 2017
  187  estimates of county populations, to ensure that two such
  188  counties are represented on the board. The board of directors
  189  shall annually elect a chairperson from among the board’s
  190  members. The chairperson may be removed by a majority vote of
  191  the members. His or her successor shall be elected to serve for
  192  the balance of the removed chairperson’s term. The chairperson
  193  is responsible to ensure records are kept of the proceedings of
  194  the board of directors and is the custodian of all books,
  195  documents, and papers filed with the board; the minutes of
  196  meetings of the board; and the official seal of Triumph Gulf
  197  Coast, Inc.
  198         (3) Notwithstanding s. 20.052(4)(c), each initial
  199  appointment to the board of directors by the Board of Trustees
  200  of the State Board of Administration shall serve for a term that
  201  ends 4 years after the Legislature appropriates funds to Triumph
  202  Gulf Coast, Inc. the Recovery Fund. To achieve staggered terms
  203  among the members of the board, each initial appointment to the
  204  board of directors by the President of the Senate and the
  205  Speaker of the House of Representatives shall serve for a term
  206  that ends 5 years after the Legislature appropriates funds to
  207  Triumph Gulf Coast, Inc. the Recovery Fund. Thereafter, each
  208  member of the board of directors shall serve for a term of 4
  209  years. A member is not eligible for reappointment to the board,
  210  except, however, any member appointed to fill a vacancy for a
  211  term of 2 years or less may be reappointed for an additional
  212  term of 4 years. The initial appointments to the board must be
  213  made by November 15, 2013. Vacancies on the board of directors
  214  shall be filled by the officer who originally appointed the
  215  member. A vacancy that occurs before the scheduled expiration of
  216  the term of the member shall be filled for the remainder of the
  217  unexpired term.
  218         (4) The Legislature determines that it is in the public
  219  interest for the members of the board of directors to be subject
  220  to the requirements of ss. 112.313, 112.3135, and 112.3143,
  221  notwithstanding the fact that the board members are not public
  222  officers or employees. For purposes of those sections, the board
  223  members shall be considered to be public officers or employees.
  224  In addition to the postemployment restrictions of s. 112.313(9),
  225  a person appointed to the board of directors must agree to
  226  refrain from having any direct interest in any contract,
  227  franchise, privilege, project, program, or other benefit arising
  228  from an award by Triumph Gulf Coast, Inc., during the term of
  229  his or her appointment and for 6 2 years after the termination
  230  of such appointment. It is a misdemeanor of the first degree,
  231  punishable as provided in s. 775.082 or s. 775.083, for a person
  232  to accept appointment to the board of directors in violation of
  233  this subsection or to accept a direct interest in any contract,
  234  franchise, privilege, project, program, or other benefit granted
  235  by Triumph Gulf Coast, Inc., to an awardee within 6 2 years
  236  after the termination of his or her service on the board.
  237  Further, each member of the board of directors who is not
  238  otherwise required to file financial disclosure under s. 8, Art.
  239  II of the State Constitution or s. 112.3144 shall file
  240  disclosure of financial interests under s. 112.3145.
  241         (7) The board of directors shall meet at least quarterly,
  242  upon the call of the chairperson or at the request of a majority
  243  of the membership, to review the Recovery Fund, establish and
  244  review priorities for economic recovery, diversification, and
  245  enhancement of the in disproportionately affected counties, and
  246  determine use of funds the earnings available. A majority of the
  247  members of the board of directors constitutes a quorum. Members
  248  may not vote by proxy.
  249         (9)(a) Triumph Gulf Coast, Inc., is permitted to hire or
  250  contract for all staff necessary to the proper execution of its
  251  powers and duties to implement this act. The corporation is
  252  required to retain:
  253         1. An independent certified public accountant licensed in
  254  this state pursuant to chapter 473 to inspect the records of and
  255  to annually audit the expenditure of funds the earnings and
  256  available principal disbursed by Triumph Gulf Coast, Inc.
  257         2.An independent financial advisor to assist Triumph Gulf
  258  Coast, Inc., in the development and implementation of a
  259  strategic plan consistent with the requirements of this act.
  260         3.An economic advisor who will assist in the award
  261  process, including the development of priorities, allocation
  262  decisions, and the application and process; will assist the
  263  board in determining eligibility of award applications and the
  264  evaluation and scoring of applications; and will assist in the
  265  development of award documentation.
  266         2.4. A legal advisor with expertise in not-for-profit
  267  investing and contracting and who is a member of The Florida Bar
  268  to assist with contracting and carrying out the intent of this
  269  act.
  270         (b) All Triumph Gulf Coast, Inc., shall require all
  271  employees of the corporation shall to comply with the code of
  272  ethics for public employees under part III of chapter 112.
  273  Retained staff under paragraph (a) must agree to refrain from
  274  having any direct interest in any contract, franchise,
  275  privilege, project, program, or other benefit arising from an
  276  award of funds by Triumph Gulf Coast, Inc., during the term of
  277  his or her appointment and for 6 2 years after the termination
  278  of such appointment.
  279         (c)Retained staff under paragraph (a) shall be available
  280  to consult with the board of directors and shall attend meetings
  281  of the board of directors. These individuals shall not be
  282  permitted to vote on any matter before the board.
  283         Section 5. Subsection (2) of section 288.8015, Florida
  284  Statutes, is amended to read:
  285         288.8015 Board of directors; powers.—In addition to the
  286  powers and duties prescribed in chapter 617 and the articles and
  287  bylaws adopted in compliance with that chapter, the board of
  288  directors may:
  289         (2) Make expenditures including any necessary
  290  administrative expenditure from earnings consistent with its
  291  powers.
  293  Under no circumstances may the credit of the State of Florida be
  294  pledged on behalf of Triumph Gulf Coast, Inc.
  295         Section 6. Subsection (4) of section 288.8016, Florida
  296  Statutes, is amended to read:
  297         288.8016 Triumph Gulf Coast, Inc.; duties.—Triumph Gulf
  298  Coast, Inc., shall have the following duties:
  299         (4) Operate in a transparent manner, providing public
  300  access to information, notice of meetings, awards, and the
  301  status of projects and programs. To this end, Triumph Gulf
  302  Coast, Inc., shall maintain a website that provides public
  303  access to this information. At least 14 calendar days before
  304  approving an award pursuant to s. 288.8017, Triumph Gulf Coast,
  305  Inc., shall publish on the website a summary of the project or
  306  program and indicate its intent to approve the award.
  307         Section 7. Section 288.8017, Florida Statutes, is amended
  308  to read:
  309         288.8017 Awards.—
  310         (1) Triumph Gulf Coast, Inc., shall make awards from
  311  available funds earnings and principal derived under s.
  312  288.8013(2) to projects or programs that meet the priorities for
  313  economic recovery, diversification, and enhancement of the
  314  disproportionately affected counties, notwithstanding s. 377.43.
  315  Awards may be provided for:
  316         (a) Ad valorem tax rate reduction within disproportionately
  317  affected counties;
  318         (b) Payment of impact fees adopted pursuant to s. 163.31801
  319  and imposed within disproportionately affected counties;
  320         (c)Administrative funding for economic development
  321  organizations located within the disproportionately affected
  322  counties;
  323         (c)(d) Local match requirements of s. 288.0655 ss.
  324  288.0655, 288.0659, 288.1045, and 288.106 for projects in the
  325  disproportionately affected counties;
  326         (e)Economic development projects in the disproportionately
  327  affected counties;
  328         (d)(f)Public infrastructure projects for construction,
  329  expansion, or maintenance which that are shown to enhance
  330  economic recovery, diversification, and enhancement of
  331  development in the disproportionately affected counties;
  332         (e)(g) Grants to local governments in the
  333  disproportionately affected counties to establish and maintain
  334  equipment and trained personnel for local action plans of
  335  response to respond to disasters, such as plans created for the
  336  Coastal Impacts Assistance Program;
  337         (f)(h) Grants to support programs of excellence that
  338  prepare students for future occupations and careers at K-20
  339  institutions that have home campuses in the disproportionately
  340  affected counties. Eligible programs include those that increase
  341  students’ technology skills and knowledge; encourage industry
  342  certifications; provide rigorous, alternative pathways for
  343  students to meet high school graduation requirements; strengthen
  344  career readiness initiatives; fund high-demand programs of
  345  emphasis at the bachelor’s and master’s level designated by the
  346  Board of Governors; and, similar to or the same as talent
  347  retention programs created by the Chancellor of the State
  348  University System and the Commission of Education, encourage
  349  students with interest or aptitude for science, technology,
  350  engineering, mathematics, and medical disciplines to pursue
  351  postsecondary education at a state university or a Florida
  352  College System institution within the disproportionately
  353  affected counties; and
  354         (g)Grants to support programs that provide participants in
  355  the disproportionately affected counties with transferrable,
  356  sustainable workforce skills that are not confined to a single
  357  employer; and
  358         (i)Grants to the tourism entity created under s. 288.1226
  359  for the purpose of advertising and promoting tourism, Fresh From
  360  Florida, or related content on behalf of one or all of the
  361  disproportionately affected counties.
  362         (2) Triumph Gulf Coast, Inc., shall establish an
  363  application procedure for awards and a scoring process for the
  364  selection of projects and programs that have the potential to
  365  generate increased economic activity in the disproportionately
  366  affected counties, giving priority to projects and programs
  367  that:
  368         (a) Generate maximum estimated economic benefits, based on
  369  tools and models not generally employed by economic input-output
  370  analyses, including cost-benefit, return-on-investment, or
  371  dynamic scoring techniques to determine how the long-term
  372  economic growth potential of the disproportionately affected
  373  counties may be enhanced by the investment.
  374         (b) Increase household income in the disproportionately
  375  affected counties above national average household income.
  376         (c)Expand high growth industries or establish new high
  377  growth industries in the region.
  378         1.Industries that are supported must have strong growth
  379  potential in the disproportionately affected counties.
  380         2.An industry’s growth potential is defined based on a
  381  detailed review of the current industry trends nationally and
  382  the necessary supporting asset base for that industry in the
  383  disproportionately affected counties region.
  384         (c)(d) Leverage or further enhance key regional assets,
  385  including educational institutions, research facilities, and
  386  military bases.
  387         (d)(e) Partner with local governments to provide funds,
  388  infrastructure, land, or other assistance for the project.
  389         (f)Have investment commitments from private equity or
  390  private venture capital funds.
  391         (g)Provide or encourage seed stage investments in start-up
  392  companies.
  393         (h)Provide advice and technical assistance to companies on
  394  restructuring existing management, operations, or production to
  395  attract advantageous business opportunities.
  396         (e)(i) Benefit the environment in addition to the economy.
  397         (f)(j) Provide outcome measures for programs of excellence
  398  support, including terms of intent and metrics.
  399         (g)(k) Partner with K-20 educational institutions or school
  400  districts located within the disproportionately affected
  401  counties.
  402         (l)Partner with convention and visitor bureaus, tourist
  403  development councils, or chambers of commerce located within the
  404  disproportionately affected counties.
  405         (3) Triumph Gulf Coast, Inc., may make awards as
  406  applications are received or may establish application periods
  407  for selection. Awards may not be used to finance 100 percent of
  408  any project or program. Triumph Gulf Coast, Inc., may require a
  409  one-to-one private-sector match or higher for an award, if
  410  applicable and deemed prudent by the board of directors. An
  411  awardee may not receive all of the funds earnings or available
  412  principal in any given year. An award may supplement but may not
  413  supplant existing funding sources.
  414         (4) A contract executed by Triumph Gulf Coast, Inc., with
  415  an awardee must include provisions requiring a performance
  416  report on the contracted activities, must account for the proper
  417  use of funds provided under the contract, and must include
  418  provisions for recovery of awards in the event the award was
  419  based upon fraudulent information or the awardee is not meeting
  420  the performance requirements of the award. Awardees must
  421  regularly report to Triumph Gulf Coast, Inc., the expenditure of
  422  funds and the status of the project or program on a schedule
  423  determined by the corporation.
  424         Section 8. Section 377.43, Florida Statutes, is repealed.
  425         Section 9. The revision made by this act to s. 288.8014(4)
  426  applies only to persons who serve on the board of trustees of
  427  Triumph Gulf Coast, Inc., on or after July 1, 2017.
  428         Section 10. The Division of Law Revision and Information is
  429  directed to replace the phrase “the effective date of this act”
  430  where it occurs in this act with the date this act takes effect.
  431         Section 11. This act shall take effect upon becoming a law.
  433  ================= T I T L E  A M E N D M E N T ================
  434  And the title is amended as follows:
  435         Delete everything before the enacting clause
  436  and insert:
  437                        A bill to be entitled                      
  438         An act relating to the Gulf Coast Economic Corridor;
  439         amending s. 288.80, F.S.; conforming provisions to
  440         changes made by the act; amending s. 288.8012, F.S.;
  441         defining and redefining terms; amending s. 288.8013,
  442         F.S.; deleting the creation and identification of
  443         purposes of the Recovery Fund; requiring a specified
  444         percentage of payments made to the state under a
  445         specified settlement of litigation related to the
  446         Deepwater Horizon oil spill be transferred from the
  447         General Revenue Fund to the Triumph Gulf Coast Trust
  448         Fund; requiring certain funds to be used for
  449         administrative costs; requiring Triumph Gulf Coast,
  450         Inc., to ensure that a minimum percentage of funds
  451         appropriated for such awards from the trust fund be
  452         expended in certain affected counties; providing
  453         appropriations; authorizing the transfer of funds in
  454         the 2017-2018 fiscal year to be spent in the 2018-2019
  455         fiscal year; requiring interest in the trust account
  456         to be deposited into the Triumph Gulf Coast Trust
  457         Fund; revising provisions related to the investment of
  458         funds in the trust account; revising annual reporting
  459         requirements; amending s. 288.8014, F.S.; expanding
  460         the membership of the board of directors; specifying
  461         conditions for appointing additional board members;
  462         deleting references to the Recovery Fund; deleting
  463         obsolete language; revising conflict of interest
  464         restrictions imposed on board members of Triumph Gulf
  465         Coast, Inc.; removing the requirement that Triumph
  466         Gulf Coast, Inc., retain an independent financial
  467         advisor and an economic advisor; revising provisions
  468         relating to conflict of interest restrictions imposed
  469         on retained staff; amending s. 288.8015, F.S.;
  470         conforming a provision to changes made by the act;
  471         amending s. 288.8016, F.S.; requiring Triumph Gulf
  472         Coast, Inc., to publish on its website specified
  473         information before making an award; amending s.
  474         288.8017, F.S.; conforming provisions to changes made
  475         by the act; revising provisions governing the uses of
  476         awards from Triumph Gulf Coast, Inc.; repealing s.
  477         377.43, F.S., relating to the disbursement of funds
  478         received for damages caused by the Deepwater Horizon
  479         oil spill; specifying that certain conflict of
  480         interest restrictions imposed on board members of the
  481         Triumph Gulf Coast, Inc., apply to members serving
  482         after a specified date; providing a directive to the
  483         Division of Law Revision and Information; providing an
  484         effective date.