FL S1472

Creates the Florida Infrastructure Fund Partnership as a for-profit limited partnership managed by the Florida Opportunity Fund to raise investment capital and invest in state infrastructure projects, with maximum total principal investment capital of $700 million.

Establishes the Florida Infrastructure Investment Trust to issue certificates to investment partners that guarantee availability of tax credits equal to their committed investment capital, with up to 0.25 percent fees charged by the trust and fund.

Authorizes the Department of Revenue to issue up to $700 million in tax credits usable against state taxes under chapters 212, 220, and insurance premium taxes, with a $150 million annual usage limit, and credits usable within 7 years of issuance.

Requires the partnership to raise funds beginning July 1, 2012, obtain at least $100 million in commitments by December 1, 2013, invest only in projects meeting at least twice the partnership's investment from other sources, and submit annual reports to the Governor and Legislature.

Prohibits the partnership from investing in rail projects authorized under the Florida Rail Enterprise Act or accepting investments from companies on state divestment lists, and clarifies the partnership cannot pledge state credit or taxing power.