Florida Statutes 288.1201 – State Economic Enhancement and Development Trust Fund
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(1) There is created within the Department of Commerce the State Economic Enhancement and Development Trust Fund. Moneys deposited in the trust fund shall be used for infrastructure and job creation opportunities and for the following purposes or programs:
(a) Transportation facilities that meet a strategic and essential state interest with respect to the economic development of the state;
Terms Used In Florida Statutes 288.1201
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Department: means the Department of Commerce. See Florida Statutes 288.005
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
(b) Affordable housing programs and projects in accordance with chapter 420;
(c) Economic development incentives for job creation and capital investment;
(d) Workforce training associated with locating a new business or expanding an existing business; and
(e) Tourism promotion and marketing services, functions, and programs.
(2) The trust fund is established for use as a depository for funds to be used for the purposes specified in subsection (1). Moneys to be credited to the trust fund shall consist of documentary stamp tax proceeds as specified in law, local financial support funds, interest earnings, and cash advances from other trust funds. Funds shall be expended only pursuant to legislative appropriation or an approved amendment to the department’s operating budget pursuant to the provisions of chapter 216.