CS for CS for SB 1314 - Florida Capital Formation Act

• Renames the "Institute for the Commercialization of Public Research" to the "Institute for Commercialization of Florida Technology" and removes it from Department of Economic Opportunity oversight and direct-support organization requirements.

• Restructures the institute's board of directors from five members (including state officials) to three directors appointed to staggered 3-year terms, with nominations submitted by a private fund manager.

• Requires the institute to employ a private fund manager (for-profit entity) to manage the Florida Technology Seed Capital Fund and Seed Capital Accelerator Program investment portfolios, shifting operational burden from the state.

• Eliminates specific investment requirements (minimum $50,000, maximum $300,000, private-sector match ratios) and replaces them with private fund manager discretion based on investment industry practices and factors including intellectual property, management capability, and market potential.

• Clarifies the private fund manager's authority to negotiate investments, execute contracts, mentor companies, and receive fees (operational, portfolio, and closing fees) from fund proceeds and investment closings.