FL H0753

Expands the Microfinance Guarantee Program to include small technology companies alongside existing entrepreneurs and small businesses eligible for loan guarantees.

Defines "small technology company" as a Florida business with annual gross revenues of $250,000 or less, net worth under $1 million, and operations in solar energy, biotechnology, biofuel, commercial space flight, simulation software, or sensors.

Increases borrower eligibility requirements to include companies employing 25 or fewer people with average annual revenues of $1.5 million or less, or qualifying as small technology companies.

Requires Enterprise Florida, Inc. to administer the program with oversight of lender eligibility, leverage ratios (not exceeding 3 to 1), fees, and annual reporting to the Department of Economic Opportunity.

Appropriates $50 million in nonrecurring General Revenue Funds for the 2016-2017 fiscal year exclusively for guaranteeing loans to small technology companies; effective July 1, 2016.