Bill Text: FL S2512 | 2024 | Regular Session | Introduced

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Bill Title: Correctional Facilities Capital Improvement

Spectrum: Committee Bill

Status: (Failed) 2024-03-08 - Died in Conference Committee [S2512 Detail]

Download: Florida-2024-S2512-Introduced.html

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       Florida Senate - 2024                                    SB 2512
       
       
        
       By the Committee on Appropriations
       
       
       
       
       
       576-02699-24                                          20242512__
    1                        A bill to be entitled                      
    2         An act relating to correctional facilities capital
    3         improvement; creating s. 944.751, F.S.; providing
    4         legislative intent; requiring the deposit of
    5         appropriated funds and any net proceeds from the sale
    6         of bonds issued under the act into the Correctional
    7         Facilities Capital Improvement Trust Fund; requiring
    8         that such funds be used for specified purposes;
    9         requiring the Department of Corrections to include
   10         recommendations for the use of such funds in its
   11         annual legislative budget requests; requiring the
   12         department to contract with a construction management
   13         entity for projects exceeding a certain dollar amount;
   14         authorizing the Division of Bond Finance of the State
   15         Board of Administration to issue bonds for specified
   16         purposes; prohibiting the issuance of such bonds
   17         unless certain conditions are met, with an exception;
   18         creating a financing oversight committee consisting of
   19         specified persons for a specified purpose; requiring
   20         that the committee make a certain recommendation;
   21         providing a contingent effective date.
   22          
   23  Be It Enacted by the Legislature of the State of Florida:
   24  
   25         Section 1. Section 944.751, Florida Statutes, is created to
   26  read:
   27         944.751 Correctional facilities capital improvement.—
   28         (1) LEGISLATIVE INTENT.—The Legislature recognizes the
   29  critical fixed capital outlay needs of the department.
   30  Therefore, it is the intent of the Legislature to provide
   31  funding through cash payments or proceeds of bonds distributed
   32  under this section to address these needs.
   33         (2) DEPOSIT OF FUNDS.—
   34         (a) Beginning in the 2024-2025 fiscal year, and each fiscal
   35  year through the 2054-2055 fiscal year, the sum of $100 million
   36  is appropriated from the General Revenue Fund and shall be
   37  transferred by the Chief Financial Officer by July 1 of each
   38  fiscal year to the Correctional Facilities Capital Improvement
   39  Trust Fund.
   40         (b) Additionally, any proceeds from the sale of bonds
   41  issued pursuant to this section, less the costs of issuance and
   42  other costs with respect to the bonds, must be deposited into
   43  the Correctional Facilities Capital Improvement Trust Fund and
   44  used in accordance with this section.
   45         (3) USE OF FUNDS.—Amounts available in the trust fund must
   46  be used each fiscal year in the following order of priority:
   47         (a) First, for the payment of debt service or funding of
   48  debt service reserve funds, rebate obligations, or other amounts
   49  payable with respect to bonds issued pursuant to this section;
   50  and
   51         (b) Then, to address the department’s critical facility
   52  needs, including, but not limited to, the construction of new
   53  facilities or the maintenance and repair of existing facilities
   54  of the department as appropriated in the General Appropriations
   55  Act.
   56         (4) CAPITAL IMPROVEMENTS.—
   57         (a) The department shall include recommendations for the
   58  use of funds in its annual legislative budget request.
   59         (b) For any project costing more than $5 million, the
   60  department shall contract with a construction management entity
   61  that will be responsible for scheduling and coordinating both
   62  the design and construction phases of the project.
   63         (5) BONDING AUTHORITY.—
   64         (a) The Division of Bond Finance of the State Board of
   65  Administration is authorized to issue bonds to finance the cost
   66  of constructing new correctional facilities or expanding
   67  existing correctional facilities.
   68         (b) Bonds issued pursuant to this section are payable from
   69  the funds appropriated and transferred pursuant to this section.
   70         (c) The department shall request that the Division of Bond
   71  Finance issue bonds authorized by this section in accordance
   72  with the General Appropriations Act. The Division of Bond
   73  Finance shall issue such bonds pursuant to the State Bond Act.
   74         (d) Except for bonds issued to refund previously issued
   75  bonds, no series of bonds may be issued pursuant to this section
   76  unless such bonds are approved and the debt service for the
   77  remainder of the fiscal year in which the bonds are issued is
   78  specifically appropriated in the General Appropriations Act.
   79         (6) FINANCING OVERSIGHT COMMITTEE.—To ensure that the
   80  funds, including any bond proceeds, are spent in an efficient
   81  and responsible manner, a financing oversight committee is
   82  created.
   83         (a) The committee must include a representative from the
   84  Senate, the House of Representatives, the Office of Policy and
   85  Budget in the Executive Office of the Governor, the department,
   86  and the Division of Bond Finance.
   87         (b) The committee shall recommend the most cost-beneficial
   88  and effective financing methods to meet the capital facility
   89  needs of the department.
   90         Section 2. This act shall take effect on the same date that
   91  SB 2510 or similar legislation takes effect, if such legislation
   92  is adopted in the same legislative session or an extension
   93  thereof and becomes a law.