FL H7023

Establishes the Florida Microfinance Act, creating a Microfinance Loan Program (administered by the Department of Economic Opportunity) offering short-term microloans up to $50,000 per loan and $75,000 per year per borrower, and a Microfinance Guarantee Program (administered by Enterprise Florida, Inc.) guaranteeing up to 50% of loans ranging from $50,000 to $250,000, both targeting entrepreneurs and small businesses with 25 or fewer employees and average annual gross revenues of $1.5 million or less. Appropriates $10 million in nonrecurring General Revenue funds for FY 2014-2015.

Creates general accountability requirements for all loan programs under Chapter 288, including restrictions that state funds may only be used for designated purposes, mandatory reversion of funds to General Revenue upon program termination, conflict-of-interest prohibitions for board members and their immediate families, and Auditor General audit authority.

Expands the Rural Job Tax Credit Program to provide eligible businesses a sales tax refund of up to 50% on electricity purchases during the one-year period following credit receipt, capped at $600,000 annually statewide, and renames "Rural Areas of Critical Economic Concern" to "Rural Areas of Opportunity" across numerous statutes.

Increases Regional Rural Development Grant caps from $35,000 to $50,000 (general) and from $100,000 to $150,000 (rural areas of opportunity), and raises the Florida Defense Support Task Force annual staffing and administrative expense cap from $200,000 to $250,000.

Reforms the Florida Small Cities CDBG Program by adding commercial revitalization and economic development grant categories, allowing up to 3 economic development applications per funding cycle, establishing ranking-based award systems with protections against population-related bias, and capping administrative costs at 8% (or $120,000) for economic development and neighborhood/commercial revitalization grants.

Modifies reemployment assistance by replacing the mandatory initial skills review with a voluntary online assessment, expanding short-time compensation protections to cover employees in employer-sponsored or Workforce Investment Act training, requiring continuation of fringe benefits during reduced workweeks, and making the employer installment payment option for quarterly contributions permanent (previously limited to 2012-2013).

Extends building permits and environmental/development permits expiring between January 1, 2014 and January 1, 2016 by 2 years, with total cumulative legislative extensions not to exceed 4 years, requiring written notification to the authorizing agency by December 31, 2014.

Revises Space Florida's duties by redirecting space tourism marketing coordination from Enterprise Florida to the Florida Tourism Industry Marketing Corporation, emphasizing technology transfer to the commercial sector, and authorizing the Department of Transportation to fund strategic spaceport launch support facilities at up to 100% of project cost.

Adds the New Markets Development Program to the list of economic development programs requiring periodic evaluation by the Legislature, and mandates that the Office of Economic and Demographic Research analyze the first three years of both microfinance programs with a report due by January 1, 2018, while OPPAGA must evaluate the State Small Business Credit Initiative by January 1, 2015.

Clarifies Triumph Gulf Coast, Inc. board term structure, with initial terms of 4 or 5 years (staggered) beginning after legislative appropriation to the Recovery Fund, requires annual operational audits by the Auditor General and independent CPA expenditure audits, and sets an initial appointment deadline of November 15, 2013. The act takes effect July 1, 2014.