The Florida Senate

¹288.9514  Powers and authority of board of directors.--

(1)  The technology development board shall achieve the purposes stated in s. 288.9512 through technology application, technology commercialization, and technology development, as well as other activities related to building a competitive, knowledge-based economy. 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 regarding technology development and expansion consistent with the policies of the board of directors of Enterprise Florida, Inc.

(b)  Taking actions in partnership with private enterprise, educational institutions, and other organizations to:

1.  Increase the rate of technology application across manufacturing and other knowledge-based firms throughout the state.

2.  Increase the amount of technology development occurring in Florida.

3.  Increase the rate at which technologies with potential commercial application are moved out of university, private, and public laboratories into the marketplace.

(c)  Using a corporate seal.

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

(e)  Evaluating the performance and effectiveness of the state's technology enhancement and development programs.

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

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

(h)  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.

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

(j)  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 operation's plan and its technology development plan, including recommendations on methods for implementing and funding the technology development 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 paragraph (1)(b).

History.--ss. 7, 14, ch. 93-187; s. 93, ch. 96-320; s. 38, ch. 97-278.

¹Note.--Section 14, ch. 93-187, provides that "[s]ections 3 through 11 of this act are repealed December 31, 2003, and shall be reviewed by the Legislature prior to that date. The review must be in accordance with criteria set forth in law."