HB 1403 Summary

• Revises the Rural Economic Development Initiative (REDI) to coordinate state and regional agency efforts on economic development challenges in rural Florida communities and areas designated as "rural areas of opportunity"

• Redefines "rural area of opportunity" to include areas affected by extraordinary economic events, severe or chronic economic distress, or presenting unique economic development opportunities, rather than limiting designations to a specific number

• Removes the specific list of economic development incentives for which the Governor may waive criteria requirements, allowing broader discretionary waiver authority for incentive programs benefiting rural areas

• Eliminates the requirement that Enterprise Florida, Inc. must identify catalyst projects; instead allows REDI to recommend and the department to confirm catalyst project designations

• Modifies REDI membership to include chairs of regional economic development organizations for each rural area of opportunity and updates reporting requirements to focus on REDI activities and project impacts