HB 9 Summary: Florida Tourism Industry Marketing Corporation

• Establishes FTIC as direct-support organization of Department of Economic Opportunity rather than Enterprise Florida, Inc., with expanded governance requirements including Senate confirmation of president/CEO and 31-member board with geographic and industry representation.

• Implements strict financial controls requiring one-to-one private-to-public matching funds, compensation caps ($130,000 for officers/employees), travel restrictions requiring Governor approval, and prohibition on performance bonuses and severance pay.

• Increases transparency and accountability by making corporation a governmental entity subject to Transparency Florida Act, requiring quarterly reports to department, public posting of contracts over $35,000, board meeting videos, and detailed financial disclosures.

• Terminates three trust funds (State Economic Enhancement and Development Trust Fund, Tourism Promotional Trust Fund, and Florida International Trade and Promotion Trust Fund) and transfers balances to General Revenue Fund.

• Creates Targeted Marketing Assistance Program to provide marketing support to small, minority, rural, and agritourism businesses with gross revenues not exceeding $1.25 million; transfers Capitol information center and welcome center administration to Department of Economic Opportunity.