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The Florida Statutes

The 2009 Florida Statutes

Title XIX
Chapter 288
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Section 288.7091, Florida Statutes 2009

1288.7091  Duties of the Florida Black Business Investment Board, Inc.--The board shall:

(1)  Serve as an advisory board to the Office of Tourism, Trade, and Economic Development, through contract with the office, to assist the office with the implementation of ss. 288.707-288.714.

(2)  Aid the development and expansion of black business enterprises by leveraging state, local, and private funds to be held by the board for use according to the provisions of ss. 288.707-288.714.

(3)  Serve as the clearinghouse for information and sources of technical assistance that will enhance the development and expansion of black business enterprises and facilitate the provision of technical assistance in communities in which such services are otherwise underserved.

(4)  Aggressively market the Black Business Loan Program and related services to black business enterprises through all appropriate media outlets, including media targeting the African-American community.

(5)  Collaborate with Enterprise Florida, Inc., or its affiliates to develop and expand black business enterprises.

(6)  Collaborate with the Department of Transportation, the Department of Management Services, including the Florida Minority Business Loan Mobilization Program, Workforce Florida, Inc., and other state agencies and partners, the State University System, including the Florida Agricultural and Mechanical University's Institute of Urban Policy and Commerce, school boards, and local governments to create a network of information and to identify available resources to enhance the development and expansion of black business enterprises.

(7)  Develop strategies to increase financial institution investment in black business enterprises.

(8)  Provide a 5-year projection of the need for capital by black business enterprises. The board may contract with an independent entity to prepare the projection once every 5 years.

(9)  Annually provide for a financial audit, as defined in s. 11.45, of the board's accounts and records by an independent certified public accountant. The audit shall include an explanation of all investments made by the board and an explanation of administrative costs. Within 6 months after the end of the fiscal year, the audit report shall be provided to the Governor, the President of the Senate, the Speaker of the House of Representatives, and the Auditor General.

History.--s. 1, ch. 94-271; s. 62, ch. 96-320; s. 53, ch. 2000-371; s. 4, ch. 2002-180; s. 24, ch. 2003-1; s. 3, ch. 2003-268; s. 44, ch. 2005-152; s. 9, ch. 2007-157; s. 40, ch. 2007-217.

1Note.--As amended and substantially reworded by s. 9, ch. 2007-157. Former subsection (7) was also amended by s. 40, ch. 2007-217, without reference to the substantial rewording of the section by s. 9, ch. 2007-157. As amended by s. 40, ch. 2007-217, only, subsection (7) reads:

(7)  Develop memoranda of understanding with the Departments of Education, Transportation, Community Affairs, and Management Services, as well as with Workforce Florida, Inc., the Board of Governors of the State University System, and the State Board of Education, detailing efforts of common interest and collaborations to expand black business development.

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