Bill Text: FL S2476 | 2010 | Regular Session | Introduced

Florida Senate Bill 2476 (Prior Session Legislation)

NOTE: There are more recent revisions of this legislation. Read Latest Draft

Bill Title: Space Business Investment & Financial Services TF [CPSC]

Spectrum: Partisan Bill (Republican 1-0)

Status: (Failed) 2010-04-30 - Died in Committee on Transportation and Economic Development Appropriations [S2476 Detail]

Download: Florida-2010-S2476-Introduced.html

 
Florida Senate - 2010                                    SB 2476 
 
By Senator Altman 
24-02239-10                                           20102476__ 
1                        A bill to be entitled 
2         An act relating to trust funds; creating the Space 
3         Business Investment and Financial Services Trust Fund 
4         within the Office of Tourism, Trade, and Economic 
5         Development in the Executive Office of the Governor; 
6         providing the purpose of the fund; providing sources 
7         of funds; providing uses for the fund; providing for 
8         the balance in the trust fund to be carried forward at 
9         the end of each fiscal year; providing for future 
10         review and termination or re-creation of the trust 
11         fund; providing a contingent effective date. 
12 
13  Be It Enacted by the Legislature of the State of Florida: 
14 
15         Section 1. The Space Business Investment and Financial 
16  Services Trust Fund.— 
17         (1) The Space Business Investment and Financial Services 
18  Trust Fund is created within the Office of Tourism, Trade, and 
19  Economic Development in the Executive Office of the Governor. 
20  Moneys to be credited to the trust fund shall consist of: 
21         (a) Sales taxes on tangible personal property, admissions, 
22  tours, and leases or licenses of real property generated by any 
23  business entity that is contracted or subcontracted by the 
24  National Aeronautics and Space Administration to sell admissions 
25  to attractions or tours at the Kennedy Space Center and the Cape 
26  Canaveral Air Force Station and that conducts business at such 
27  facilities pursuant to ss. 212.04(1)(a), 212.05, and 
28  212.031(1)(a); 
29         (b) Nonrecurring funds from the General Revenue Fund to the 
30  Office of Tourism, Trade, and Economic Development; and 
31         (c) Proceeds of communications services taxes remitted 
32  under chapter 202, Florida Statutes. 
33         (2) The Space Business Investment and Financial Services 
34  Trust Fund shall be used exclusively to provide investment and 
35  financial services to new, expanding, and relocating space 
36  businesses, programs, and projects within this state pursuant to 
37  s. 331.3051, Florida Statutes, and as authorized by s. 331.305, 
38  Florida Statutes. The trust fund may not be used for personnel, 
39  administrative, or overhead expenses of Space Florida, other 
40  than expenses or charges directly associated with administration 
41  and reporting of the fund and the fund’s account. 
42         (3) Notwithstanding s. 216.301, Florida Statutes, and 
43  pursuant to s. 216.351, Florida Statutes, any balance in the 
44  trust fund at the end of any fiscal year shall remain in the 
45  trust fund and be available for carrying out the purposes of the 
46  trust fund. 
47         (4) In accordance with s. 19(f)(2), Article III of the 
48  State Constitution, the Space Business Investment and Financial 
49  Services Trust Fund shall, unless terminated sooner, be 
50  terminated on July 1, 2014. Before its scheduled termination, 
51  the trust fund shall be reviewed as provided in s. 215.3206(1) 
52  and (2), Florida Statutes. 
53         Section 2. This act shall take effect July 1, 2010, if SB 
54  _____ or similar legislation is adopted in the same legislative 
55  session or an extension thereof and becomes law.