FL Stat § 288.904 (2021)
2021 Florida Statutes|Title XIX - Public Business|Chapter 288 - Commercial Development and Capital Improvements|Part VIII - Enterprise Florida, Inc. (Ss. 288.901-288.923)|288.904 - Funding for Enterprise Florida, Inc.; performance and return on the public’s investment.

288.904 Funding for Enterprise Florida, Inc.; performance and return on the public’s investment.—(1)(a) The Legislature may annually appropriate to Enterprise Florida, Inc., a sum of money for its operations, and separate line-item appropriations for each of the divisions listed in s. 288.92.(b) The state’s operating investment in Enterprise Florida, Inc., and its divisions is the budget contracted by the department to Enterprise Florida, Inc., less any funding that is directed by the Legislature to be subcontracted to a specific recipient entity.(c) The board of directors of Enterprise Florida, Inc., shall adopt for each upcoming fiscal year an operating budget for the organization, including its divisions, which specifies the intended uses of the state’s operating investment and a plan for securing private sector support.(2)(a) The Legislature finds that it is a priority to maximize private sector support in operating Enterprise Florida, Inc., and its divisions, as an endorsement of its value and as an enhancement of its efforts. Thus, the state appropriations must be matched with private sector support equal to at least 100 percent of the state operational funding.(b) Private sector support in operating Enterprise Florida, Inc., and its divisions includes:1. Cash given directly to Enterprise Florida, Inc., for its operations, including contributions from at-large members of the board of directors;2. Cash donations from organizations assisted by the divisions;3. Cash jointly raised by Enterprise Florida, Inc., and a private local economic development organization, a group of such organizations, or a statewide private business organization that supports collaborative projects;4. Cash generated by fees charged for products or services of Enterprise Florida, Inc., and its divisions by sponsorship of events, missions, programs, and publications; and5. Copayments, stock, warrants, royalties, or other private resources dedicated to Enterprise Florida, Inc., or its divisions.(c) If Enterprise Florida, Inc., fails to meet the one-to-one match requirements of this subsection, the corporation shall revert all unmatched public contributions to the state treasury by June 30 of each fiscal year.(3) Enterprise Florida, Inc., shall fully comply with the performance measures, standards, and sanctions in its contract with the department, under s. 20.60. The department shall ensure, to the maximum extent possible, that the contract performance measures are consistent with performance measures that it is required to develop and track under performance-based program budgeting. The contract shall also include performance measures for the divisions.(4) The Legislature intends to review the performance of Enterprise Florida, Inc., in achieving the performance goals stated in its annual contract with the department to determine whether the public is receiving a positive return on its investment in Enterprise Florida, Inc., and its divisions. It also is the intent of the Legislature that Enterprise Florida, Inc., coordinate its operations with local economic development organizations to maximize the state and local return on investment to create jobs for Floridians.(5) By August 15 of each fiscal year, the Department of Economic Opportunity shall submit a proposed operating budget for Enterprise Florida, Inc., including amounts to be expended on incentives, business recruitment, advertising, events, other operating capital outlay, and salaries and benefits for each employee to the Governor, the President of the Senate, and the Speaker of the House of Representatives.(6)(a) All executed Enterprise Florida, Inc., contracts are to be placed for viewing on the Enterprise Florida, Inc., website.(b) A contract entered into between Enterprise Florida, Inc., and any other public or private entity shall include:1. The purpose of the contract.2. Specific performance standards and responsibilities for each entity.3. A detailed project or contract budget, if applicable.4. The value of any services provided.5. The projected travel and entertainment expenses for employees and board members, if applicable.(c)1. Any entity that in the previous fiscal year received more than 50 percent of its revenue from Enterprise Florida, Inc., or a tax imposed pursuant to s. 125.0104, s. 125.0108, or s. 212.0305, and that partners with Enterprise Florida, Inc., in a program or other activity offered by or in conjunction with Enterprise, Florida, Inc., shall annually on July 1 report all public and private financial data to the Governor, the President of the Senate, and the Speaker of the House of Representatives, and include such report on its website.2. The financial data shall include:a. The total amount of revenue received from public and private sources.b. The operating budget of the partner entity.c. Employee and board member salary and benefit details from public and private funds.d. An itemized account of all expenditures by the partner entity on the behalf of, or coordinated for the benefit of, Enterprise Florida, Inc., its board members, or employees.e. Itemized travel and entertainment expenditures of the partner entity.(d) The following information must be posted on the website of Enterprise Florida, Inc.:1. A plain language version of any contract that is estimated to exceed $35,000 with a private entity, municipality, city, town, or vendor of services, supplies, or programs, including marketing, or for the purchase or lease or use of lands, facilities, or properties.2. Any agreement entered into between Enterprise Florida, Inc., and any other entity, including a local government, private entity, or nonprofit entity, that receives public funds or funds from a tax imposed pursuant to s. 125.0104, s. 125.0108, or s. 212.0305.3. The contracts and the required information pursuant to paragraph (b) and the financial data submitted to Enterprise Florida, Inc., pursuant to paragraph (c).4. Video recordings of each board meeting.5. A detailed report of expenditures following each marketing or business recruitment event paid for with Enterprise Florida, Inc., funds. Such report must be posted within 10 business days after the event.6. An annual itemized accounting of the total amount of funds spent by any third party on behalf of Enterprise Florida, Inc., or any board member or employee of Enterprise Florida, Inc.7. An annual itemized accounting of the total amount of travel and entertainment expenses by Enterprise Florida, Inc.(e) The Enterprise Florida, Inc., website must:1. Allow users to navigate to related sites to view supporting details.2. Enable a taxpayer to email questions to Enterprise Florida, Inc., and make such questions and Enterprise Florida, Inc., responses publicly viewable.History.—s. 5, ch. 92-277; s. 84, ch. 96-320; s. 31, ch. 97-278; s. 31, ch. 99-251; s. 81, ch. 2000-165; s. 7, ch. 2005-66; s. 71, ch. 2010-102; s. 25, ch. 2011-142; s. 29, ch. 2013-39; s. 31, ch. 2013-42; s. 22, ch. 2017-233.