The Florida Senate

288.9414  Powers and authority of board of directors of International Trade and Economic Development Board.--

(1)  The board shall have all the powers and authority not explicitly prohibited by statute necessary or convenient to carry out and effectuate its functions, duties, and responsibilities, including, but not limited to:

(a)  Advising and assisting in formulating and coordinating the state's economic development policy, both domestically and internationally, consistent with the policies of the board of directors of Enterprise Florida, Inc.

(b)  Using a corporate seal.

(c)  Advising and assisting in developing the state's economic development strategic planning process.

(d)  Evaluating the performance and effectiveness of the state's economic development programs.

(e)  Reporting to the board of directors of Enterprise Florida, Inc., regarding its functions, duties, recommendations, and responsibilities.

(f)  Soliciting, borrowing, accepting, receiving, and investing funds from any public or private source.

(g)  Contracting with public and private entities as necessary to further the directives of this act, except that any contract made with an organization represented on the nominating council or on the board of directors must be approved by a two-thirds vote of the entire board of directors, and the board member representing such organization shall abstain from voting. No more than 65 percent of the dollar value of all contracts or other agreements entered into in any fiscal year, exclusive of grant programs, shall be made with an organization represented on the nominating council or the board of directors. An organization represented on the board or on the nominating council may not enter into a contract to receive a state-funded economic development incentive or similar grant, unless such incentive award is specifically endorsed by a two-thirds vote of the entire board. The board member representing such organization, if applicable, shall abstain from voting and refrain from discussing the issue with other members of the board. No more than 50 percent of the dollar value of grants issued by the board in any fiscal year may go to businesses associated with board members.

(h)  Carrying forward any unexpended state appropriations into succeeding fiscal years.

(i)  Providing an annual report to the board of directors of Enterprise Florida, Inc., by November 1 of each year setting forth:

1.  Its operations and accomplishments during the fiscal year.

2.  Its business and operations plan.

3.  Its assets and liabilities at the end of its most recent fiscal year.

4.  A copy of an annual financial and compliance audit of its accounts and records conducted by an independent certified public accountant performed in accordance with rules adopted by the Auditor General.

(2)  The board shall design specific programs or entities to address the actions listed in subsection (1).

(3)  Develop intensive export assistance programs for small and medium-sized export firms. The partnership, through Enterprise Florida, Inc., may enter into contractual relations with export-ready firms and may impose fees or other charges for services provided.

History.--s. 89, ch. 96-320; s. 34, ch. 97-278.