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       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.
   13  Be It Enacted by the Legislature of the State of Florida:
   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.

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