April 01, 2020
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HB 1347

A bill to be entitled
2An act relating to the Florida Biotechnology Investment
3Matching Grant Program; creating s. 288.9553, F.S.;
4providing legislative findings and intent; creating the
5program; designating an existing committee, or
6subcommittee thereof, within Enterprise Florida, Inc., for
7certain purposes; providing for committee members to serve
8without compensation; providing a deadline for processing
9applications; requiring reports to the Governor and
10Legislature; providing eligibility guidelines for
11applicants; providing for a program administrator;
12providing responsibilities of the program administrator;
13providing for program administrative costs; designating a
14fiduciary entity; specifying eligibility requirements;
15providing for awards; requiring the Office of Program
16Policy Analysis and Government Accountability to conduct a
17review of the matching grant program; requiring the office
18to submit a report of its findings and recommendations to
19the Governor and the Legislature; providing
20appropriations; providing an effective date.
22Be It Enacted by the Legislature of the State of Florida:
24     Section 1.  Section 288.9553, Florida Statutes, is created
25to read:
26     288.9553  Florida Biotechnology Investment Matching Grant
29     (a)  The Florida Biotechnology Investment Matching Grant
30Program is created for the purpose of accomplishing the goals
31and objectives specified in this section.
32     (b)  The purpose of the Florida Biotechnology Investment
33Matching Grant Program is to increase the amount of federal
34funding coming to this state which will produce the kind of
35distinctive biotechnologies that drive today's knowledge-based
36economy. By leveraging federal, state, and private-sector
37resources, the program intends to accelerate the innovation
38process and more efficiently transform research results into
39products in the marketplace.
40     (c)  The program is specifically intended to be a catalyst
41for small or startup biotechnology companies that can take
42advantage of federal and state partnerships in order to
43accelerate their growth and market penetration by helping to
44overcome the funding gap faced by many small companies that are
45based in this state. Specific goals and objectives of the
46program include:
47     1.  Increasing the amount of federal research moneys
48received by small biotechnology businesses in this state through
49awards from the Small Business Innovation Research Program and
50the Small Business Technology Transfer Program of the Office of
51Technology of the United States Small Business Administration.
52     2.  Accelerating the entry of new biotechnology-based
53products into the marketplace.
54     3.  Producing additional biotechnology-based jobs for the
56     4.  Providing leveraged resources to increase the
57effectiveness and success of applicants' projects.
58     5.  Speeding commercialization of promising
60     6.  Encouraging the establishment and growth of high-
61quality, advanced biotechnology firms in the state.
62     7.  Accelerating the rate of investment and enhancing the
63state's investment infrastructure.
64     (2)  ADMINISTRATION.-Enterprise Florida's Technology,
65Entrepreneurship, and Capital Committee, or a subcommittee of
66that committee having no fewer than seven members, shall develop
67program policies, ensure statewide applicability of the program,
68establish criteria for grant awards, approve grant awards, and
69review program progress and results.
70     (a)  Members of the committee shall serve without
72     (b)  Enterprise Florida, Inc., shall provide staff support
73for the committee.
74     (c)  Applications for matching grant awards must be
75reviewed and approved or denied within 45 days after receipt of
76the application.
77     (d)  Beginning December 1, 2010, and annually thereafter,
78the committee shall transmit an annual report to the Governor,
79the President of the Senate, and the Speaker of the House of
80Representatives for the previous fiscal year.
81     (3)  ELIGIBILITY GUIDELINES.-A qualified applicant shall:
82     (a)  Be a biotechnology business entity that is registered
83with the Secretary of State to operate in this state. The
84qualified applicant must also have its primary office and a
85majority of its employees domiciled in this state, and the
86principal research activities must be conducted in this state.
87     (b)  Be a small company for which a state matching grant is
88necessary for project development and implementation.
89     (c)  Have received a Phase I award under the federal Small
90Business Innovation Research Program or Small Business
91Technology Transfer Program.
92     (d)  Use federal, local, and private resources to the
93maximum extent possible. Total project funding shall demonstrate
94that not more than 50 percent of the project's total funding is
95provided by the state grant.
96     (e)  Conduct the project funded by the matching grant
97program in this state.
98     (4)  PROGRAM ADMINISTRATOR.-Subject to appropriations,
99Enterprise Florida, Inc., shall serve as program administrator.
100Enterprise Florida, Inc., may contract for the performance of
101biotechnology review and related functions with a third party.
102Not more than 10 percent of a legislative appropriation may be
103used for administrative purposes. The responsibilities of the
104program administrator include, but are not limited to:
105     (a)  Coordinating and supporting the grant review,
106approval, and contracting activities.
107     (b)  Administering the grant-selection process, including,
108but not limited to, issuing open-call requests for grant
109applications and receiving, reviewing, and processing grant
111     (c)  Serving as grant contract manager for recipients of a
112matching grant.
113     (d)  Reporting program progress and results.
114     (e)  Establishing a mechanism by which information
115regarding grant projects may be made available to facilitate
116additional investment by individual investors, investment for
117early start-up costs, or venture capital investment.
118     (5)  FIDUCIARY.-
119     (a)  Enterprise Florida, Inc., shall award money to a
120qualified applicant if:
121     1.  The committee approves the award.
122     2.  The qualified applicant demonstrates that it has
123obtained a Phase I award under the federal Small Business
124Innovation Research Program or Small Business Technology
125Transfer Program.
126     3.  The qualified applicant executes a performance contract
127with Enterprise Florida, Inc.
128     (b)  Enterprise Florida, Inc., shall release funds to a
129qualified applicant upon completion of all contract
131     (6)  AWARDS.-The matching grant program may make one-time
132awards of up to $100,000 per project to a qualified applicant.
133     Section 2.  Before the 2013 Regular Session of the
134Legislature, the Office of Program Policy Analysis and
135Government Accountability shall conduct a review and evaluation
136of the effectiveness and viability of the Florida Biotechnology
137Investment Matching Grant Program. The office shall specifically
138evaluate the use of federal grants and private investment and
139the creation of new biotechnology businesses and jobs. The
140office shall also recommend outcome measures for further
141evaluation of the program. The office shall submit a report of
142its findings and recommendations to the Governor, the President
143of the Senate, and the Speaker of the House of Representatives
144by January 1, 2013.
145     Section 3.  The recurring sum of $4 million is appropriated
146from the General Revenue Fund to Enterprise Florida, Inc., for
147the 2010-2011, 2011-2012, and 2012-2013 fiscal years for the
148purpose of implementing s. 288.9553, Florida Statutes.
149     Section 4.  This act shall take effect July 1, 2010.

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