Florida Senate - 2026                                    SB 7026
       
       
        
       By the Committee on Governmental Oversight and Accountability
       
       
       
       
       
       585-02051-26                                          20267026__
    1                        A bill to be entitled                      
    2         An act relating to a review under the Open Government
    3         Sunset Review Act; amending s. 119.0715, F.S., which
    4         provides an exemption from public records requirements
    5         for a trade secret held by an agency; deleting the
    6         scheduled repeal of the exemption; amending ss.
    7         287.137, 288.075, 334.049, 408.185, 409.91196,
    8         440.108, 497.172, 501.171, 501.1735, 501.2041,
    9         501.722, 520.9965, 548.062, 559.5558, 569.215,
   10         627.0628, and 1004.4472, F.S.; conforming provisions
   11         to changes made by the act; providing an effective
   12         date.
   13          
   14  Be It Enacted by the Legislature of the State of Florida:
   15  
   16         Section 1. Section 119.0715, Florida Statutes, is amended
   17  to read:
   18         119.0715 Trade secrets held by an agency.—
   19         (1) DEFINITION.—“Trade secret” has the same meaning as in
   20  s. 688.002.
   21         (2) PUBLIC RECORD EXEMPTION.—A trade secret held by an
   22  agency is confidential and exempt from s. 119.07(1) and s.
   23  24(a), Art. I of the State Constitution.
   24         (3) AGENCY ACCESS.—An agency may disclose a trade secret to
   25  an officer or employee of another agency or governmental entity
   26  whose use of the trade secret is within the scope of his or her
   27  lawful duties and responsibilities.
   28         (4) LIABILITY.—An agency employee who, while acting in good
   29  faith and in the performance of his or her duties, releases a
   30  record containing a trade secret pursuant to this chapter is not
   31  liable, civilly or criminally, for such release.
   32         (5) OPEN GOVERNMENT SUNSET REVIEW.—This section is subject
   33  to the Open Government Sunset Review Act in accordance with s.
   34  119.15 and shall stand repealed on October 2, 2026, unless
   35  reviewed and saved from repeal through reenactment by the
   36  Legislature.
   37         Section 2. Paragraph (d) of subsection (8) of section
   38  287.137, Florida Statutes, is amended to read:
   39         287.137 Antitrust violations; denial or revocation of the
   40  right to transact business with public entities; denial of
   41  economic benefits.—
   42         (8)
   43         (d) For purposes of this subsection, the term “proprietary
   44  business information” means information that:
   45         1. Is owned or controlled by the business;
   46         2. Is intended to be private and is treated by the business
   47  as private because disclosure would harm the business or its
   48  business operations;
   49         3. Has not been disclosed except as required by law or a
   50  private agreement that provides that the information will not be
   51  released to the public;
   52         4. Is not publicly available or otherwise readily
   53  ascertainable through proper means from another source in the
   54  same configuration as received by the Attorney General; and
   55         5. Includes:
   56         a. Trade secrets as defined in s. 688.002.
   57         b. competitive interests, the disclosure of which would
   58  impair the competitive advantage of the business that is the
   59  subject of the information.
   60         Section 3. Paragraph (c) of subsection (1) and subsection
   61  (3) of section 288.075, Florida Statutes, are amended to read:
   62         288.075 Confidentiality of records.—
   63         (1) DEFINITIONS.—As used in this section, the term:
   64         (c) “Trade secret” has the same meaning as in s. 688.002.
   65         (3) TRADE SECRETS.—Trade secrets held by an economic
   66  development agency are confidential and exempt from s. 119.07(1)
   67  and s. 24(a), Art. I of the State Constitution.
   68         Section 4. Section 334.049, Florida Statutes, is amended to
   69  read:
   70         334.049 Patents, copyrights, trademarks; notice to
   71  Department of State; confidentiality of trade secrets.—
   72         (1) Notwithstanding any other provision of law to the
   73  contrary, the Department of Transportation is authorized, in its
   74  own name, to:
   75         (a) Perform all things necessary to secure letters of
   76  patent, copyrights, and trademarks on any legitimately acquired
   77  work products, and to enforce its rights therein.
   78         (b) License, lease, assign, or otherwise give written
   79  consent to any person, firm, or corporation for the manufacture
   80  or use of any product protected by patent, copyright, or
   81  trademark, whether on a royalty basis or for such other
   82  consideration as the department may deem proper.
   83         (c) Take any action necessary, including legal action, to
   84  enforce its rights under any agreement and to protect its
   85  property rights from improper or unlawful use or infringement.
   86         (d) Enforce the collection of any payments or other
   87  obligations due the department for the manufacture or use of any
   88  product by any other party.
   89         (e) Sell any product, except where otherwise provided by
   90  public records laws, which the department may create or cause to
   91  be created, whether or not the product is protected by a
   92  department patent, copyright, or trademark, and to execute all
   93  instruments necessary to consummate any such sale.
   94         (f) Do all other acts necessary and proper for the
   95  execution of powers and duties herein conferred upon the
   96  department.
   97         (2) The department shall notify the Department of State in
   98  writing whenever property rights by patent, copyright, or
   99  trademark are secured or exploited by the department.
  100         (3) Any proceeds from the sale of products or the right to
  101  manufacture or use a product must shall be deposited in the
  102  State Transportation Trust Fund and may be appropriated to
  103  finance activities of the department. The department’s
  104  legislative budget request should give special consideration to
  105  using such funds for research and development projects.
  106         (4) Any information obtained by the department as a result
  107  of research and development projects and revealing a method of
  108  process, production, or manufacture which is a trade secret as
  109  defined in s. 688.002, is confidential and exempt from the
  110  provisions of s. 119.07(1).
  111         (5) As used in this section the term “product” includes any
  112  and all inventions, methodologies, techniques, and creations
  113  that may be properly protected by patent, copyright, or
  114  trademark.
  115         Section 5. Subsection (1) of section 408.185, Florida
  116  Statutes, is amended to read:
  117         408.185 Information submitted for review of antitrust
  118  issues; confidentiality.—The following information held by the
  119  Office of the Attorney General, which is submitted by a member
  120  of the health care community pursuant to a request for an
  121  antitrust no-action letter shall be confidential and exempt from
  122  the provisions of s. 119.07(1) and s. 24(a), Art. I of the State
  123  Constitution for 1 year after the date of submission.
  124         (1) Documents that reveal trade secrets as defined in s.
  125  688.002.
  126         Section 6. Section 409.91196, Florida Statutes, is amended
  127  to read:
  128         409.91196 Supplemental rebate agreements; public records
  129  and public meetings exemption.—
  130         (1) The rebate amount, percent of rebate, manufacturer’s
  131  pricing, and supplemental rebate information, and other trade
  132  secrets as defined in s. 688.002 that the agency has identified
  133  for use in negotiations, held by the Agency for Health Care
  134  Administration under s. 409.912(5)(a)7. are confidential and
  135  exempt from s. 119.07(1) and s. 24(a), Art. I of the State
  136  Constitution.
  137         (2) That portion of a meeting of the Medicaid
  138  Pharmaceutical and Therapeutics Committee at which the rebate
  139  amount, percent of rebate, manufacturer’s pricing, or
  140  supplemental rebate information, or other trade secrets as
  141  defined in s. 688.002 that the agency has identified for use in
  142  negotiations, are discussed is exempt from s. 286.011 and s.
  143  24(b), Art. I of the State Constitution. A record shall be made
  144  of each exempt portion of a meeting. Such record must include
  145  the times of commencement and termination, all discussions and
  146  proceedings, the names of all persons present at any time, and
  147  the names of all persons speaking. No exempt portion of a
  148  meeting may be held off the record.
  149         Section 7. Subsection (2) of section 440.108, Florida
  150  Statutes, is amended to read:
  151         440.108 Investigatory records relating to workers’
  152  compensation employer compliance; confidentiality.—
  153         (2) After an investigation is completed or ceases to be
  154  active, information in records relating to the investigation
  155  remains confidential and exempt from the provisions of s.
  156  119.07(1) and s. 24(a), Art. I of the State Constitution if
  157  disclosure of that information would:
  158         (a) Jeopardize the integrity of another active
  159  investigation;
  160         (b) Reveal a trade secret, as defined in s. 688.002;
  161         (c) Reveal business or personal financial information;
  162         (c)(d) Reveal personal identifying information regarding
  163  the identity of a confidential source;
  164         (d)(e) Defame or cause unwarranted damage to the good name
  165  or reputation of an individual or jeopardize the safety of an
  166  individual; or
  167         (e)(f) Reveal investigative techniques or procedures.
  168         Section 8. Subsection (4) of section 497.172, Florida
  169  Statutes, is amended to read:
  170         497.172 Public records exemptions; public meetings
  171  exemptions.—
  172         (4) TRADE SECRETS.—Trade secrets, as defined in s. 688.002,
  173  held by the department or board, are confidential and exempt
  174  from s. 119.07(1) and s. 24(a), Art. I of the State
  175  Constitution.
  176         Section 9. Paragraph (d) of subsection (11) of section
  177  501.171, Florida Statutes, is amended to read:
  178         501.171 Security of confidential personal information.—
  179         (11) PUBLIC RECORDS EXEMPTION.—
  180         (d) For purposes of this subsection, the term “proprietary
  181  information” means information that:
  182         1. Is owned or controlled by the covered entity.
  183         2. Is intended to be private and is treated by the covered
  184  entity as private because disclosure would harm the covered
  185  entity or its business operations.
  186         3. Has not been disclosed except as required by law or a
  187  private agreement that provides that the information will not be
  188  released to the public.
  189         4. Is not publicly available or otherwise readily
  190  ascertainable through proper means from another source in the
  191  same configuration as received by the department.
  192         5. Includes:
  193         a.Trade secrets as defined in s. 688.002.
  194         b. competitive interests, the disclosure of which would
  195  impair the competitive business of the covered entity who is the
  196  subject of the information.
  197         Section 10. Paragraph (d) of subsection (6) of section
  198  501.1735, Florida Statutes, is amended to read:
  199         501.1735 Protection of children in online spaces; public
  200  records exemption.—
  201         (6) PUBLIC RECORDS EXEMPTION.—
  202         (d) For purposes of this section, the term “proprietary
  203  information” means information that:
  204         1. Is owned or controlled by the online platform.
  205         2. Is intended to be private and is treated by the online
  206  platform as private because disclosure would harm the online
  207  platform or its business operations.
  208         3. Has not been disclosed except as required by law or a
  209  private agreement that provides that the information will not be
  210  released to the public.
  211         4. Is not publicly available or otherwise readily
  212  ascertainable through proper means from another source in the
  213  same configuration as received by the department.
  214         5. Includes:
  215         a. Trade secrets as defined in s. 688.002.
  216         b. competitive interests, the disclosure of which would
  217  impair the competitive advantage of the online platform who is
  218  the subject of the information.
  219         Section 11. Paragraph (d) of subsection (10) of section
  220  501.2041, Florida Statutes, is amended to read:
  221         501.2041 Unlawful acts and practices by social media
  222  platforms.—
  223         (10)
  224         (d) For purposes of this subsection, the term “proprietary
  225  business information” means information that:
  226         1. Is owned or controlled by the business;
  227         2. Is intended to be private and is treated by the business
  228  as private because disclosure would harm the business or its
  229  business operations;
  230         3. Has not been disclosed except as required by law or a
  231  private agreement that provides that the information will not be
  232  released to the public;
  233         4. Is not publicly available or otherwise readily
  234  ascertainable through proper means from another source in the
  235  same configuration as received by the department; and
  236         5. Includes:
  237         a. Trade secrets as defined in s. 688.002.
  238         b. competitive interests, the disclosure of which would
  239  impair the competitive advantage of the business that is the
  240  subject of the information.
  241         Section 12. Paragraph (e) of subsection (4) of section
  242  501.722, Florida Statutes, is amended to read:
  243         501.722 Public records exemption.—
  244         (4) For purposes of this section, the term “proprietary
  245  information” means information that:
  246         (e) Includes:
  247         1. Trade secrets as defined in s. 688.002.
  248         2. competitive interests, the disclosure of which would
  249  impair the competitive advantage of the controller, processor,
  250  or third party who is the subject of the information.
  251         Section 13. Paragraph (b) of subsection (1) of section
  252  520.9965, Florida Statutes, is amended to read:
  253         520.9965 Confidentiality of information relating to
  254  investigations and examinations.—
  255         (1)
  256         (b) Except as necessary for the office to enforce the
  257  provisions of this chapter, a consumer complaint and other
  258  information relative to an investigation or examination shall
  259  remain confidential and exempt from s. 119.07(1) after the
  260  investigation or examination is completed or ceases to be active
  261  to the extent disclosure would:
  262         1. Jeopardize the integrity of another active investigation
  263  or examination.
  264         2. Reveal the name, address, telephone number, social
  265  security number, or any other identifying number or information
  266  of any complainant, customer, or account holder.
  267         3. Disclose the identity of a confidential source.
  268         4. Disclose investigative techniques or procedures.
  269         5. Reveal a trade secret as defined in s. 688.002.
  270         Section 14. Paragraph (e) of subsection (1) of section
  271  548.062, Florida Statutes, is amended to read:
  272         548.062 Public records exemption.—
  273         (1) As used in this section, the term “proprietary
  274  confidential business information” means information that:
  275         (e) Concerns any of the following:
  276         1. The number of ticket sales for a match;
  277         2. The amount of gross receipts after a match;
  278         3. A trade secret, as defined in s. 688.002;
  279         4. Business plans;
  280         4.5. Internal auditing controls and reports of internal
  281  auditors; or
  282         5.6. Reports of external auditors.
  283         Section 15. Paragraph (b) of subsection (2) of section
  284  559.5558, Florida Statutes, is amended to read:
  285         559.5558 Public records exemption; investigations and
  286  examinations.—
  287         (2)
  288         (b) Information made confidential and exempt pursuant to
  289  this section is no longer confidential and exempt once the
  290  investigation or examination is completed or ceases to be active
  291  unless disclosure of the information would:
  292         1. Jeopardize the integrity of another active investigation
  293  or examination.
  294         2. Reveal the personal identifying information of a
  295  consumer, unless the consumer is also the complainant. A
  296  complainant’s personal identifying information is subject to
  297  disclosure after the investigation or examination is completed
  298  or ceases to be active. However, a complainant’s personal
  299  financial and health information remains confidential and
  300  exempt.
  301         3. Reveal the identity of a confidential source.
  302         4. Reveal investigative or examination techniques or
  303  procedures.
  304         5. Reveal trade secrets, as defined in s. 688.002.
  305         Section 16. Paragraph (a) of subsection (2) of section
  306  569.215, Florida Statutes, is amended to read:
  307         569.215 Confidential records relating to tobacco settlement
  308  agreement.—
  309         (2) As used in this section, the term “proprietary
  310  confidential business information” means information, regardless
  311  of form or characteristics, which is owned or controlled by a
  312  tobacco company that is a signatory to the settlement agreement,
  313  as amended, in the case of State of Florida v. American Tobacco
  314  Company, No. 95-1466AH, in the Circuit Court of the Fifteenth
  315  Judicial Circuit, in and for Palm Beach County, is intended to
  316  be and is treated by a tobacco company as private in that the
  317  disclosure of the information would cause harm to the company’s
  318  business operations, and has not been disclosed unless disclosed
  319  pursuant to a statutory provision, an order of a court or
  320  administrative body, or private agreement that provides that the
  321  information will not be released to the public. The term
  322  includes, but is not limited to:
  323         (a) Trade secrets as defined in s. 688.002.
  324         Section 17. Section 627.0628, Florida Statutes, is amended
  325  to read:
  326         627.0628 Florida Commission on Hurricane Loss Projection
  327  Methodology; public records exemption; public meetings
  328  exemption.—
  329         (1) LEGISLATIVE FINDINGS AND INTENT.—
  330         (a) Reliable projections of hurricane losses are necessary
  331  in order to assure that rates for residential property insurance
  332  meet the statutory requirement that rates be neither excessive
  333  nor inadequate. The ability to accurately project hurricane
  334  losses has been enhanced greatly in recent years through the use
  335  of computer modeling. It is the public policy of this state to
  336  encourage the use of the most sophisticated actuarial methods to
  337  assure that consumers are charged lawful rates for residential
  338  property insurance coverage.
  339         (b) The Legislature recognizes the need for expert
  340  evaluation of computer models and other recently developed or
  341  improved actuarial methodologies for projecting hurricane
  342  losses, in order to resolve conflicts among actuarial
  343  professionals, and in order to provide both immediate and
  344  continuing improvement in the sophistication of actuarial
  345  methods used to set rates charged to consumers.
  346         (c) It is the intent of the Legislature to create the
  347  Florida Commission on Hurricane Loss Projection Methodology as a
  348  panel of experts to provide the most actuarially sophisticated
  349  guidelines and standards for projection of hurricane losses
  350  possible, given the current state of actuarial science. It is
  351  the further intent of the Legislature that such standards and
  352  guidelines must be used by the State Board of Administration in
  353  developing reimbursement premium rates for the Florida Hurricane
  354  Catastrophe Fund, and, subject to paragraph (3)(d), must be used
  355  by insurers in rate filings under s. 627.062 unless the way in
  356  which such standards and guidelines were applied by the insurer
  357  was erroneous, as shown by a preponderance of the evidence.
  358         (d) It is the intent of the Legislature that such standards
  359  and guidelines be employed as soon as possible, and that they be
  360  subject to continuing review thereafter.
  361         (e) The Legislature finds that the authority to take final
  362  agency action with respect to insurance ratemaking is vested in
  363  the Office of Insurance Regulation and the Financial Services
  364  Commission, and that the processes, standards, and guidelines of
  365  the Florida Commission on Hurricane Loss Projection Methodology
  366  do not constitute final agency action or statements of general
  367  applicability that implement, interpret, or prescribe law or
  368  policy; accordingly, chapter 120 does not apply to the
  369  processes, standards, and guidelines of the Florida Commission
  370  on Hurricane Loss Projection Methodology.
  371         (2) COMMISSION CREATED.—
  372         (a) There is created the Florida Commission on Hurricane
  373  Loss Projection Methodology, which is assigned to the State
  374  Board of Administration. For the purposes of this section, the
  375  term “commission” means the Florida Commission on Hurricane Loss
  376  Projection Methodology. The commission shall be administratively
  377  housed within the State Board of Administration, but it shall
  378  independently exercise the powers and duties specified in this
  379  section.
  380         (b) The commission shall be composed consist of the
  381  following 12 members:
  382         1. The insurance consumer advocate.
  383         2. The senior employee of the State Board of Administration
  384  responsible for operations of the Florida Hurricane Catastrophe
  385  Fund.
  386         3. The Executive Director of the Citizens Property
  387  Insurance Corporation or the executive director’s designee. The
  388  executive director’s designee must be a full-time employee of
  389  the corporation and have actuarial science experience.
  390         4. The Director of the Division of Emergency Management or
  391  the director’s designee. The director’s designee must be a full
  392  time employee of the division.
  393         5. The actuary member of the Florida Hurricane Catastrophe
  394  Fund Advisory Council.
  395         6. An employee of the office who is an actuary responsible
  396  for property insurance rate filings and who is appointed by the
  397  director of the office.
  398         7. Five members appointed by the Chief Financial Officer,
  399  as follows:
  400         a. An actuary who is employed full time by a property and
  401  casualty insurer that was responsible for at least 1 percent of
  402  the aggregate statewide direct written premium for homeowner
  403  insurance in the calendar year preceding the member’s
  404  appointment to the commission.
  405         b. An expert in insurance finance who is a full-time member
  406  of the faculty of the State University System and who has a
  407  background in actuarial science.
  408         c. An expert in statistics who is a full-time member of the
  409  faculty of the State University System and who has a background
  410  in insurance.
  411         d. An expert in computer system design who is a full-time
  412  member of the faculty of the State University System.
  413         e. An expert in meteorology who is a full-time member of
  414  the faculty of the State University System and who specializes
  415  in hurricanes.
  416         8. A licensed professional structural engineer who is a
  417  full-time faculty member in the State University System and who
  418  has expertise in wind mitigation techniques. This appointment
  419  shall be made by the Governor.
  420         (c) Members designated under subparagraphs (b)1.-5. shall
  421  serve on the commission as long as they maintain the respective
  422  offices designated in subparagraphs (b)1.-5. The member
  423  appointed by the director of the office under subparagraph (b)6.
  424  shall serve on the commission until the end of the term of
  425  office of the director who appointed him or her, unless removed
  426  earlier by the director for cause. Members appointed by the
  427  Chief Financial Officer under subparagraph (b)7. shall serve on
  428  the commission until the end of the term of office of the Chief
  429  Financial Officer who appointed them, unless earlier removed by
  430  the Chief Financial Officer for cause. Vacancies on the
  431  commission shall be filled in the same manner as the original
  432  appointment.
  433         (d) The State Board of Administration shall annually
  434  appoint one of the members of the commission to serve as chair.
  435         (e) Members of the commission shall serve without
  436  compensation, but shall be reimbursed for per diem and travel
  437  expenses pursuant to s. 112.061.
  438         (f) The State Board of Administration shall, as a cost of
  439  administration of the Florida Hurricane Catastrophe Fund,
  440  provide for travel, expenses, and staff support for the
  441  commission.
  442         (g) There shall be no liability on the part of, and no
  443  cause of action of any nature shall arise against, any member of
  444  the commission, any member of the State Board of Administration,
  445  or any employee of the State Board of Administration for any
  446  action taken in the performance of their duties under this
  447  section. In addition, the commission may, in writing, waive any
  448  potential cause of action for negligence of a consultant,
  449  contractor, or contract employee engaged to assist the
  450  commission.
  451         (3) ADOPTION AND EFFECT OF STANDARDS AND GUIDELINES.—
  452         (a) The commission shall consider any actuarial methods,
  453  principles, standards, models, or output ranges that have the
  454  potential for improving the accuracy of or reliability of the
  455  hurricane loss projections used in residential property
  456  insurance rate filings and flood loss projections used in rate
  457  filings for personal lines residential flood insurance coverage.
  458  The commission shall, from time to time, adopt findings as to
  459  the accuracy or reliability of particular methods, principles,
  460  standards, models, or output ranges.
  461         (b) The commission shall consider any actuarial methods,
  462  principles, standards, or models that have the potential for
  463  improving the accuracy of or reliability of projecting probable
  464  maximum loss levels. The commission shall adopt findings as to
  465  the accuracy or reliability of particular methods, principles,
  466  standards, or models related to probable maximum loss
  467  calculations.
  468         (c) In establishing reimbursement premiums for the Florida
  469  Hurricane Catastrophe Fund, the State Board of Administration
  470  must, to the extent feasible, employ actuarial methods,
  471  principles, standards, models, or output ranges found by the
  472  commission to be accurate or reliable.
  473         (d) With respect to a rate filing under s. 627.062, an
  474  insurer shall employ and may not modify or adjust actuarial
  475  methods, principles, standards, models, or output ranges found
  476  by the commission to be accurate or reliable in determining
  477  hurricane loss factors and probable maximum loss levels for use
  478  in a rate filing under s. 627.062. An insurer may employ a model
  479  in a rate filing until 120 days after the expiration of the
  480  commission’s acceptance of that model and may not modify or
  481  adjust models found by the commission to be accurate or reliable
  482  in determining probable maximum loss levels. This paragraph does
  483  not prohibit an insurer from using a straight average of model
  484  results or output ranges for the purposes of a rate filing for
  485  personal lines residential flood insurance coverage under s.
  486  627.062.
  487         (e) The commission shall adopt actuarial methods,
  488  principles, standards, models, or output ranges for personal
  489  lines residential flood loss no later than July 1, 2017.
  490         (f) The commission shall revise previously adopted
  491  actuarial methods, principles, standards, models, or output
  492  ranges every odd-numbered year for hurricane loss projections.
  493  The commission shall revise previously adopted actuarial
  494  methods, principles, standards, models, or output ranges no less
  495  than every 4 years for flood loss projections.
  496         (g)1. A trade secret, as defined in s. 688.002, which is
  497  used in designing and constructing a hurricane or flood loss
  498  model and which is provided pursuant to this section, by a
  499  private company, to the commission, office, or consumer advocate
  500  appointed pursuant to s. 627.0613 is confidential and exempt
  501  from s. 119.07(1) and s. 24(a), Art. I of the State
  502  Constitution.
  503         2.a. That portion of a meeting of the commission or of a
  504  rate proceeding on an insurer’s rate filing at which a trade
  505  secret as defined in s. 688.002, which is used in designing and
  506  constructing a hurricane or flood loss model and which is
  507  provided pursuant to this section by a private company to the
  508  commission, office, or consumer advocate appointed pursuant to
  509  s. 627.0613, made confidential and exempt by this paragraph is
  510  discussed is exempt from s. 286.011 and s. 24(b), Art. I of the
  511  State Constitution. The closed meeting must be recorded, and no
  512  portion of the closed meeting may be off the record.
  513         2.b. The recording of a closed portion of a meeting is
  514  exempt from s. 119.07(1) and s. 24(a), Art. I of the State
  515  Constitution.
  516         Section 18. Paragraph (a) of subsection (2) and subsection
  517  (4) of section 1004.4472, Florida Statutes, are amended to read:
  518         1004.4472 Florida Institute for Human and Machine
  519  Cognition, Inc.; public records exemption; public meetings
  520  exemption.—
  521         (2) The following information held by the corporation or
  522  its subsidiary is confidential and exempt from s. 119.07(1) and
  523  s. 24(a), Art. I of the State Constitution:
  524         (a) Material relating to methods of manufacture or
  525  production, potential trade secrets, patentable material, actual
  526  trade secrets as defined in s. 688.002 or proprietary
  527  information received, generated, ascertained, or discovered
  528  during the course of research conducted by or through the
  529  corporation or a subsidiary, and business transactions resulting
  530  from such research.
  531         (4) That portion of a meeting of the corporation or a
  532  subsidiary at which information is presented or discussed which
  533  is confidential and exempt pursuant to subsection (2) or s.
  534  119.0715 is exempt from s. 286.011 and s. 24(b), Art. I of the
  535  State Constitution.
  536         Section 19. This act shall take effect upon becoming a law.