FL S1042

Requires the Department of Economic Opportunity to prioritize Black Business Loan Program applications from enterprises in areas directly impacted by the 1920 Ocoee Election Day Riots.

Creates the Ocoee Scholarship Program administered by the Department of Education for direct descendants of victims of the November 1920 Ocoee Election Day Riots and current African-American residents of Ocoee.

Authorizes annual scholarship awards of up to $6,100 per student (not exceeding tuition and registration fees), with a maximum of 50 scholarships per academic year beginning in the 2023-2024 academic year.

Requires the Department of Education to rank eligible applicants based on financial need and may prorate funds if insufficient to cover all eligible applicants.

Allows the State Board of Education to adopt rules for program implementation and provides that program funding shall be determined through the General Appropriations Act, effective July 1, 2023.