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The Florida Statutes

The 2009 Florida Statutes

Title XIX
Chapter 288
View Entire Chapter
Section 288.707, Florida Statutes 2009

288.707  Florida Black Business Investment Board, Inc.; findings; creation; membership; organization; meetings; disclosure.--

(1)  The Legislature finds that the public interest of the state will be served by the creation of a not-for-profit public-private entity the primary mission of which shall be to assist in the development and expansion of black business enterprises by:

(a)  Advising the Office of Tourism, Trade, and Economic Development in its oversight of the Black Business Loan Program and creating long-range strategic policy for the program.

(b)  Evaluating the unmet need for capital by black business enterprises in the state.

(c)  Creating partnerships between state and local governments and private enterprises to aid in the development and expansion of black business enterprises.

(d)  Providing a network of information resources for black business enterprises and providing technical assistance through this network.

(2)(a)  There is created a not-for-profit corporation to be known as the "Florida Black Business Investment Board, Inc.," referred to in ss. 288.707-288.714 as the board, which shall be registered, incorporated, organized, and operated in compliance with chapter 617 and shall not be a unit or entity of state government. The Legislature determines, however, that public policy dictates that the board operate in the most open and accessible manner consistent with its public purpose. Therefore, the Legislature specifically declares that the board and its advisory committees or similar groups created by the board, including any subsidiaries, are subject to the provisions of chapter 119, relating to public records, and the provisions of chapter 286, relating to public meetings and records.

(b)  The board shall contract with the Office of Tourism, Trade, and Economic Development to implement the provisions of ss. 288.707-288.714.

(3)  The board shall be governed by a board of directors chosen as follows:

(a)  Five members appointed by the Governor who shall serve terms of 4 years each, except that in making initial appointments, the Governor shall appoint three members to serve for terms of 2 years each and two members to serve for terms of 3 years each.

(b)  One member appointed by the President of the Senate who shall serve a term of 2 years.

(c)  One member appointed by the Speaker of the House of Representatives who shall serve a term of 2 years.

(d)  The vice chair of Enterprise Florida, Inc., or his or her designee.

(e)  The chair of the Florida Development Finance Corporation created pursuant to s. 288.9604.

(f)  Four presidents of participating black business investment corporations who shall be appointed by the Executive Director of the Office of Tourism, Trade, and Economic Development upon the recommendation of the Florida Consortium of Black Business Investment Corporations, Inc., to serve for terms of 3 years each. Each shall be eligible for reappointment to one additional term of 3 years.

(4)  Members of the board must have experience in business, including financial services, banking, or economic development. At least one of the Governor's appointees must have experience in venture capitalism.

(5)  Any person appointed to fill a vacancy on the board shall be appointed in a like manner and shall serve for only the remainder of the unexpired term. Any member shall be eligible for reappointment.

(6)  The Governor shall appoint the chair, who shall be a member of the board and shall serve at the pleasure of the Governor. The board shall annually elect one of its members as vice chair.

(7)  The board shall meet at least four times annually upon the call of the chair or vice chair or at the request of a majority of the membership. A majority of the total number of current members of the board shall constitute a quorum. The board may take official action by a majority vote of the members present at any meeting at which a quorum is present.

(8)  Members of the board shall serve without compensation, but members, the president of the board, and other board employees may be reimbursed for all reasonable, necessary, and actual expenses as determined and approved by the board pursuant to s. 112.061.

(9)  Each member of the board who is not otherwise required to disclose financial interests pursuant to s. 8, Art. II of the State Constitution or s. 112.3144 shall file a statement of financial interests pursuant to s. 112.3145.

History.--ss. 9, 32, ch. 85-104; s. 9, ch. 94-136; s. 28, ch. 94-322; s. 878, ch. 95-148; ss. 61, 64, ch. 96-320; s. 47, ch. 99-251; s. 1, ch. 2002-180; s. 6, ch. 2007-157.

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