Title: Space Florida

Summary: Exempts Space Florida from certain limitations on financial advances authorized in General Appropriations Act or other law.

Full Text:
An act relating to Space Florida; amending s. 216.181, F.S.; providing an exemption for Space Florida from certain limitations on financial advances authorized in the General Appropriations Act or other law; providing an effective date. 8 Be It Enacted by the Legislature of the State of Florida: 10 Section 1. Paragraph (b) of subsection (16) of section 216.181, Florida Statutes, is amended to read: 216.181 Approved budgets for operations and fixed capital outlay.-(16) (b) Any agency, or the judicial branch, that has been authorized by the General Appropriations Act or expressly authorized by other law to make advances for program startup or advances for contracted services, in total or periodically, shall limit such disbursements to other governmental entities and not-for-profit corporations. The amount that may be advanced shall not exceed the expected cash needs of the contractor or recipient within the initial months. Thereafter, disbursements shall only be made on a reimbursement basis. Any agreement that provides for advancements may contain a clause that permits the contractor or recipient to temporarily invest the proceeds, provided that any interest income shall either be returned to the agency or be applied against the agency's obligation to pay the contract amount. This paragraph does not constitute lawful authority to make any advance payment not otherwise authorized by laws relating to a particular agency or general laws relating to the expenditure or disbursement of public funds. The Chief Financial Officer may, after consultation with the legislative appropriations committees, advance funds beyond a 3-month requirement if it is determined to be consistent with the intent of the approved operating budget. The limitations of this paragraph do not apply to Space Florida. Section 2. This act shall take effect upon becoming a law.