HB 943 Summary

• Creates the Florida Infrastructure Fund Partnership as a private limited partnership managed by the Florida Opportunity Fund to raise investment capital and invest in infrastructure projects (water, wastewater, power, transportation, renewable energy systems) that promote economic development in the state.

• Establishes the Florida Infrastructure Investment Trust to issue certificates to investment partners guaranteeing tax credits, with total tax credits capped at $700 million and individual annual claims limited to $150 million multiplied by the proportion of credits issued to that owner.

• Allows the fund to lend up to $750,000 to the partnership for initial organization expenses and requires investment partners to raise funds totaling at least twice the partnership's investment in any infrastructure project.

• Provides investment partners with tax credits equal to their net capital losses (investment minus distributions received) upon the partnership's maturity date, with credits usable against state income taxes, corporate taxes, and insurance premiums over a 7-year period.

• Requires the partnership to submit annual reports detailing investment capital raised, infrastructure projects funded, job creation, economic impact, and independently audited financial statements to the Governor and Legislature.