FL S7004

Removes requirement that James and Esther King Biomedical Research Program be funded by Lawton Chiles Endowment Fund proceeds and instead funds it through 5% of Health Care Trust Fund revenue (capped at $50 million annually).

Changes Biomedical Research Advisory Council appointed member terms from 3 years to 4-year staggered terms, with initial appointments on or after July 1, 2010 set at 2 years.

Requires Department of Health to adopt rules to administer both the James and Esther King Biomedical Research Program and William G. "Bill" Bankhead, Jr., and David Coley Cancer Research Program.

Modifies council authority to recommend grants for cancer research to the State Surgeon General rather than directly award grants.

Authorizes Department of Health to accept and use monetary gifts for grant awards under both biomedical research programs; deletes provisions scheduling program expiration on January 1, 2011.