FL S1720

Changes the Florida Black Business Investment Board from a public-private entity to a not-for-profit corporation while maintaining public records and meetings requirements.

Modifies board composition by reducing Governor-appointed members from five to four, adding two at-large members selected by the board, and making the Enterprise Florida vice chair an ex officio nonvoting member.

Shifts chair selection from Governor appointment to board election, with removal requiring a two-thirds vote of board members instead of serving at Governor's pleasure.

Adjusts Black Business Loan Program application deadlines from July 1/September 30 to June 1/July 31 and increases allowable percentages for technical support (7% to 9%) and administrative costs (10% to 12%).

Requires loan recipients to submit quarterly reports directly to the Office of Tourism, Trade, and Economic Development rather than the board, with the office compiling summaries for the board and providing separate annual reports to state leadership.