FL H1309

Creates Florida Statute 288.1062 to provide special economic incentives for eight counties disproportionally affected by the Deepwater Horizon disaster: Bay, Escambia, Franklin, Gulf, Okaloosa, Santa Rosa, Wakulla, and Walton Counties.

Allows the Office of Tourism, Trade, and Economic Development to waive job and wage eligibility requirements for up to $5 million in cumulative state incentives per project between July 1, 2011 and June 30, 2014, with Governor approval required for waivers between $5-10 million.

Permits qualified target industry businesses relocating from another state to affected counties to receive tax refund payments up to $6,000 per job specified in their tax refund agreement, with waiver of certain wage and local financial support requirements.

Appropriates $10 million in nonrecurring General Revenue Funds for fiscal year 2011-2012 to promote research and development, commercialization of research, economic diversification, and job creation in the affected region, with funds allocated to universities, business recruitment, gap-bridging incentives, and matching grants.

Requires the Board of Trustees of the Internal Improvement Trust Fund to recommend to the Legislature by February 1, 2013 whether to modify existing multistate compacts or establish new ones to address Deepwater Horizon disaster impacts; all provisions expire July 1, 2014.