The Florida Senate

288.7091  Duties of the Florida Black Business Investment Board.--The Florida Black Business Investment Board shall:

(1)  Establish certification criteria for black business investment corporations. Certification criteria shall include administrative capacity, fiduciary controls, and, in the case of existing black business investment corporations, solvency and soundness of prior loan decisions;

(2)  Develop a memorandum of understanding with Enterprise Florida, Inc., that outlines a strategy for collaboration with the programs and boards of Enterprise Florida, Inc.;

(3)  Include in the criteria for loan decisions, occupational forecasting results set forth in s. 216.136(9) which target high growth jobs;

(4)  Establish, in communities that are not currently served by an existing black business investment corporation, memoranda of understanding with local financial institutions that will provide loan guarantees for loans to black business enterprises;

(5)  Develop memoranda of understanding with the Departments of Labor and Employment Security, Education, Transportation, and Management Services, as well as the State Board of Regents, detailing efforts of common interest and collaborations to expand black business development;

(6)  Intensify efforts to increase the number of the black business enterprises in construction and construction-related projects, focusing on federal, state, and local government financed construction projects; and

(7)  Annually, prepare a report detailing the performance of each black business investment corporation, addressing the number of jobs created and/or retained, success and failure rates among loan recipients, and the amount of funds leveraged from other sources.

History.--s. 1, ch. 94-271; s. 62, ch. 96-320; s. 53, ch. 2000-371.