FL H1003

Establishes the Community Investment Program within the Department of Economic Opportunity to encourage private sector investment and reduce poverty in economically disadvantaged communities (those with income not exceeding 80 percent of area median income).

Creates a seven-member Community Investment Council chaired by the executive director of the Department of Economic Opportunity, including the Chief Financial Officer, three Governor-appointed members, one Senate-appointed member, and one House-appointed member.

Council duties include developing a database of disadvantaged communities by county and municipality, maintaining an inventory of public funding resources, establishing criteria for eligible triple bottom-line investment funds, and submitting annual reports to the Governor and Legislature.

Sets a goal of obtaining at least $1 million in new triple bottom-line investment fund investments in real estate developments and businesses in economically disadvantaged communities by January 1, 2021.

Establishes a four-member legislative advisory committee with two Senate members and two House members (one from each major political party) to advise the council; effective date is July 1, 2015.