Florida Senate - 2020                                     SB 666
       By Senator Mayfield
       17-00208C-20                                           2020666__
    1                        A bill to be entitled                      
    2         An act relating to the Florida Development Finance
    3         Corporation; amending s. 20.60, F.S.; requiring the
    4         executive director of the Department of Economic
    5         Opportunity to serve as the chair of the board of
    6         directors of the Florida Development Finance
    7         Corporation; requiring that the annual report of the
    8         corporation be incorporated into the department’s
    9         annual report on the condition of the business climate
   10         and economic development in the state; requiring the
   11         department to develop performance standards for the
   12         corporation and include certain information relating
   13         to the standards in the department’s annual report;
   14         amending s. 288.9604, F.S.; revising the membership of
   15         the board of directors of the corporation; requiring
   16         that the director of the Division of Bond Finance of
   17         the State Board of Administration, or his or her
   18         designee, serve on the board of directors of the
   19         corporation; making conforming changes; specifying
   20         that all officers, employees, and administrative and
   21         support staff for the corporation shall be employees
   22         of the department; providing for future repeals;
   23         requiring the chair and vice chair of the board of
   24         directors of the corporation to serve as regular
   25         members of the board after a specified date; providing
   26         construction; amending s. 288.9610, F.S.; requiring
   27         the corporation to submit an annual report containing
   28         specified information to the department; providing for
   29         the continuation of certain contracts and interlocal
   30         agreements; providing an effective date.
   32  Be It Enacted by the Legislature of the State of Florida:
   34         Section 1. Paragraph (c) is added to subsection (9) of
   35  section 20.60, Florida Statutes, and paragraph (b) of subsection
   36  (10) and subsection (11) of that section are amended, to read:
   37         20.60 Department of Economic Opportunity; creation; powers
   38  and duties.—
   39         (9) The executive director shall:
   40         (c)Serve as the chair of the board of directors of the
   41  Florida Development Finance Corporation.
   42         (10) The department, with assistance from Enterprise
   43  Florida, Inc., shall, by November 1 of each year, submit an
   44  annual report to the Governor, the President of the Senate, and
   45  the Speaker of the House of Representatives on the condition of
   46  the business climate and economic development in the state.
   47         (b) The report must incorporate annual reports of other
   48  programs, including:
   49         1. Information provided by the Department of Revenue under
   50  s. 290.014.
   51         2. Information provided by enterprise zone development
   52  agencies under s. 290.0056 and an analysis of the activities and
   53  accomplishments of each enterprise zone.
   54         3. The Economic Gardening Business Loan Pilot Program
   55  established under s. 288.1081 and the Economic Gardening
   56  Technical Assistance Pilot Program established under s.
   57  288.1082.
   58         4. A detailed report of the performance of the Black
   59  Business Loan Program and a cumulative summary of quarterly
   60  report data required under s. 288.714.
   61         5. The Rural Economic Development Initiative established
   62  under s. 288.0656.
   63         6. The Florida Unique Abilities Partner Program.
   64         7.A detailed report of the performance of the Florida
   65  Development Finance Corporation and a summary of the
   66  corporation’s report required under s. 288.9610.
   67         (11) The department shall establish annual performance
   68  standards for Enterprise Florida, Inc., CareerSource Florida,
   69  Inc., the Florida Tourism Industry Marketing Corporation, and
   70  Space Florida, and the Florida Development Finance Corporation
   71  and report annually on how these performance measures are being
   72  met in the annual report required under subsection (10).
   73         Section 2. Subsection (2), paragraphs (a) and (c) of
   74  subsection (3), and subsection (4) of section 288.9604, Florida
   75  Statutes, are amended, and subsection (5) is added to that
   76  section, to read:
   77         288.9604 Creation of the authority.—
   78         (2) The board of directors of the corporation shall consist
   79  of seven members. The executive director of the department, or
   80  his or her designee, shall serve as chair of the board of
   81  directors of the corporation. The director of the Division of
   82  Bond Finance of the State Board of Administration, or his or her
   83  designee, shall serve as a member of the board of directors of
   84  the corporation. The Governor, subject to confirmation by the
   85  Senate, shall appoint the remaining five members of the board of
   86  directors of the corporation, who shall be five in number. The
   87  terms of office for the appointed directors shall be for 4 years
   88  from the date of their appointment. A vacancy occurring during a
   89  term of an appointed director shall be filled for the unexpired
   90  term. A director shall be eligible for reappointment. At least
   91  three of the appointed directors of the corporation shall be
   92  bankers or individuals with experience in finance who have been
   93  selected by the Governor from a list of bankers who were
   94  nominated by Enterprise Florida, Inc., and one of the directors
   95  shall be an economic development specialist.
   96         (3)(a)1. A director may not receive compensation for his or
   97  her services, but is entitled to necessary expenses, including
   98  travel expenses, incurred in the discharge of his or her duties.
   99  Each appointed director shall hold office until his or her
  100  successor has been appointed.
  101         2. Directors are subject to ss. 112.313(1)-(8), (10), (12),
  102  and (15); 112.3135; and 112.3143(2). For purposes of applying
  103  ss. 112.313(1)-(8), (10), (12), and (15); 112.3135; and
  104  112.3143(2) to activities of directors, directors shall be
  105  considered public officers and the corporation shall be
  106  considered their agency.
  107         (c) The directors of the corporation shall annually elect
  108  one of their members as chair and one as vice chair. The
  109  corporation may employ a president, technical experts, and such
  110  other agents and employees, permanent and temporary, as it
  111  requires and determine their qualifications, duties, and
  112  compensation; however, all officers, employees, and
  113  administrative and support staff for the corporation shall be
  114  employees of the department. For such legal services as it
  115  requires, the corporation may employ or retain its own counsel
  116  and legal staff.
  117         (4) The board may remove an appointed a director for
  118  inefficiency, neglect of duty, or misconduct in office. Such
  119  director may be removed only after a hearing and only if he or
  120  she has been given a copy of the charges at least 10 days before
  121  such hearing and has had an opportunity to be heard in person or
  122  by counsel. The removal of a director shall create a vacancy on
  123  the board which shall be filled pursuant to subsection (2).
  124         (5)This section is repealed October 1, 2022, and October 1
  125  of every fourth year thereafter, unless reviewed and saved from
  126  repeal by the Legislature.
  127         Section 3. In order to implement the changes made by this
  128  act to s. 288.9604, Florida Statutes, the chair and vice chair
  129  of the board of directors of the Florida Development Finance
  130  Corporation as of June 30, 2020, shall serve as regular members
  131  beginning July 1, 2020. Nothing in this act may be construed to
  132  affect the terms of the directors serving on the board on July
  133  1, 2020.
  134         Section 4. Section 288.9610, Florida Statutes, is amended
  135  to read:
  136         288.9610 Annual reports of Florida Development Finance
  137  Corporation.—On or before 90 days after the close of the Florida
  138  Development Finance Corporation’s fiscal year, the corporation
  139  shall submit to the Governor, the Legislature, the Auditor
  140  General, the Department of Economic Opportunity, and the
  141  governing body of each public entity with which it has entered
  142  into an interlocal agreement a complete and detailed report
  143  setting forth:
  144         (1) The results of any audit conducted pursuant to s.
  145  11.45.
  146         (2) The activities, operations, and accomplishments of the
  147  Florida Development Finance Corporation, including the number of
  148  businesses assisted by the corporation.
  149         (3) Its assets, liabilities, income, and operating expenses
  150  at the end of its most recent fiscal year, including a
  151  description of all of its outstanding revenue bonds.
  152         Section 5. Any contract or interlocal agreement existing
  153  before July 1, 2020, between the Florida Development Finance
  154  Corporation, or any entity or agent of the corporation, and any
  155  other entity or person shall continue as a contract or agreement
  156  on the successor department or entity responsible for the
  157  program, activity, or function relative to the contract or
  158  agreement.
  159         Section 6. This act shall take effect July 1, 2020.