Title XIV, Taxation and Finance

The appointment of the executive director of the State Board of Administration shall be subject to the approval by a majority vote of the Board of Trustees of the State Board of Administration, and the Governor must vote on the prevailing side. Such appointment must be reaffirmed…

(1) The executive director shall present to the Board of Trustees of the State Board of Administration a quarterly report to include the following:(a) The name of each equity in which the State Board of Administration has invested for the quarter.(b) The industry category of each…

(1) There is created a nine-member Investment Advisory Council to review the investments made by the staff of the Board of Administration and to make recommendations to the board regarding investment policy, strategy, and procedures. The council shall meet with staff of the board…

Securities or investments purchased or held under the provisions of this chapter may be sold or exchanged for other securities or investments; provided, however, that no sale or exchange shall be at a price less than the market price of the securities or investments to be sold or…

Subject to the limitations and conditions of the State Constitution or of the trust agreement relating to a trust fund, moneys available for investments under ss. 215.44-215.53 may be invested as follows:(1) Without limitation in:(a) Bonds, notes, or other obligations of the Unit…

The State Board of Administration, on behalf of the Florida Retirement System or any other trust fund under its jurisdiction, may develop work products that are subject to trademark, copyright, or patent statutes. The board may, in its own name or through the growth initiative pr…

(1) As used in this section, the term:(a) “MacBride Principles” means the objectives for companies operating in Northern Ireland to:1. Increase the representation of individuals from underrepresented religious groups in the workforce, including managerial, supervisory, administra…

1(1) The State Board of Administration shall divest any investment under s. 121.151 and ss. 215.44-215.53, and is prohibited from investment in stocks, securities, or other obligations of:(a) Any institution or company domiciled in the United States, or foreign subsidiary of a co…

1Notwithstanding any other provision of law, each state agency, as defined in s. 216.011, is prohibited from investing in:(1) Any financial institution or company domiciled in the United States, or foreign subsidiary of a company domiciled in the United States, which directly or …

(1) DEFINITIONS.—As used in this section, the term:(a) “Agency” means any of the various state officers, departments, boards, commissions, divisions, bureaus, and councils and any other unit of organization, however designated, of the executive branch of state government.(b) “Boy…

(1) DEFINITIONS.—As used in this section, the term:(a) “Active business operations” means all business operations that are not inactive business operations.(b) “Board” means the State Board of Administration.(c) “Business operations” means engaging in commerce in any form in Suda…

(1) As used in this section, the term:(a) “Board” means the State Board of Administration.(b) “China” means the government of the People’s Republic of China, the Chinese Communist Party, the Chinese military, or any instrumentality thereof, or any combination thereof.(c) “Chinese…

The Office of Program Policy Analysis and Government Accountability shall perform an annual review of technology and growth investments made in Florida-based companies by the State Board of Administration and submit its findings to the State Board of Administration, the President…

(1) In making investments for the System Trust Fund pursuant to ss. 215.44-215.53, the board shall make no investment which is not in conformance with the Florida Retirement System Defined Benefit Plan Investment Policy Statement, hereinafter referred to as “the IPS,” as develope…

The intent of this section is to promote independence and the avoidance of conflicts and improper influence by certain investment advisers and managers without creating unnecessary barriers to the board performing its investment duties consistent with its fiduciary standards, inv…

(1) An investment adviser or manager who has discretionary investment authority for direct holdings and who is retained as provided in s. 215.44(2)(b) shall agree pursuant to contract to annually certify in writing to the board that:(a) All investment decisions made on behalf of …

By and with the consent and approval of any constitutional board or agency, or the judicial branch, now having the constitutional power to make investments, and in accordance with the provisions of ss. 215.44-215.53, the State Board of Administration shall have the power to make …

(1) It shall be the duty of each state agency, and the judicial branch, now or hereafter charged with the administration of the System Trust Fund, as defined in s. 121.021(36), or other funds specifically required by law to be invested by the State Board of Administration pursuan…

(1) All securities purchased or held may, with the approval of the board, be in the custody of the Chief Financial Officer or the Chief Financial Officer as treasurer ex officio of the board, or be deposited with a bank or trust company to be held in safekeeping by such bank or t…

(1) The board shall keep, for each fund for which investments are made, a separate account, to be designated by name and number, which shall record the individual amounts and the totals of all investments belonging to such fund. Every receipt and collection or disbursement when r…

(1) The State Board of Administration shall make reasonable charges for all investment services performed for any agency, the judicial branch, or any fund in accordance with the provisions of ss. 215.44-215.53 or other provisions of law. The agency, fund, or judicial branch shall…

The board shall have the power and authority to make reasonable rules and regulations necessary to carry out the provisions of ss. 215.44-215.53. The rules shall provide for full transparency and accountability in fulfillment of the board’s fiduciary duties in the areas of compli…

It is the intent of the Legislature that transfer of the powers, duties, and responsibilities of existing state agencies or the judicial branch made by ss. 215.44-215.53 to the board shall include only the particular powers, duties, and responsibilities hereby transferred, and al…

The funds collected and deposited in the Federal Use of State Lands Trust Fund shall be distributed annually to the county in which the money is collected, as follows: 50 percent to the board of county commissioners and 50 percent to the school board in such counties.History.—s. …

(1) The Chief Financial Officer may make distribution of the Federal Use of State Lands Trust Fund, when so requested by the counties in interest, of such amounts as may be accumulated in that fund.(2) The Chief Financial Officer shall ascertain, from the records of the General L…

The Chief Financial Officer shall distribute moneys from the Federal Use of State Lands Trust Fund when so requested by the counties so affected. The Chief Financial Officer shall apportion the money on hand equal to the percentage of land in each county within each military inst…

(1) FINDINGS AND PURPOSE.—The Legislature finds and declares as follows:(a) There is a compelling state interest in maintaining a viable and orderly private sector market for property insurance in this state. To the extent that the private sector is unable to maintain a viable an…

(1) CREATION OF THE REINSURANCE TO ASSIST POLICYHOLDERS PROGRAM.—There is created the Reinsurance to Assist Policyholders program to be administered by the State Board of Administration.(2) DEFINITIONS.—As used in this section, the term:(a) “Board” means the State Board of Admini…

The Florida Hurricane Catastrophe Fund created by s. 215.555 is exempt from the deduction required by s. 215.20(1).History.—s. 2, ch. 93-409.

The reports of insured values under covered policies by zip code submitted to the State Board of Administration pursuant to s. 215.555, as created by s. 1, ch. 93-409, Laws of Florida, or similar legislation, are confidential and exempt from the provisions of s. 119.07(1) and s. …

There is established within the Department of Financial Services the My Safe Florida Home Program. The department shall provide fiscal accountability, contract management, and strategic leadership for the program, consistent with this section. This section does not create an enti…

(1) All of the following information contained in applications and home inspection reports submitted by applicants as part of the My Safe Florida Home Program under s. 215.5586 is exempt from s. 119.07(1) and s. 24(a), Art. I of the State Constitution:(a) The components of the ap…

There is established within the Department of Financial Services the My Safe Florida Condominium Pilot Program to be implemented pursuant to appropriations. The department shall provide fiscal accountability, contract management, and strategic leadership for the pilot program, co…

(1) The Department of Commerce shall implement the 2006 Disaster Recovery Program from funds provided through the Emergency Supplemental Appropriations Act for Defense, the Global War on Terror, and Hurricane Recovery, 2006, for the purpose of assisting local governments in satis…

A Hurricane Loss Mitigation Program is established in the Division of Emergency Management.(1) The Legislature shall annually appropriate $10 million of the moneys authorized for appropriation under s. 215.555(7)(c) from the Florida Hurricane Catastrophe Fund to the division for …

(1) Upon entering the 2008 hurricane season, the Legislature finds that:(a) The losses in this state from eight hurricanes in 2004 and 2005 have seriously strained the resources of both the voluntary insurance market and the public sector mechanisms of Citizens Property Insurance…

The Chief Financial Officer shall provide a report on the economic impact on the state of a 1-in-100-year hurricane to the Governor, the President of the Senate, and the Speaker of the House of Representatives by March 1, 2025, and each triennial year thereafter. The report shall…

(1) DEFINITIONS.—As used in this section:(a) “Bond” means any bond, debenture, note, certificate, or other obligation of financial indebtedness issued by the corporation under this section.(b) “Corporation” means the Tobacco Settlement Financing Corporation created by this sectio…

(1) There is established within the Department of Health the James and Esther King Biomedical Research Program. The purpose of the James and Esther King Biomedical Research Program is to provide an annual and perpetual source of funding in order to support research initiatives th…

1(1) That portion of a meeting of a peer review panel in which applications for biomedical research grants under s. 215.5602 or s. 381.922 are discussed is exempt from s. 286.011 and s. 24(b), Art. I of the State Constitution.(2) Any records generated by the peer review panel rel…

Sections 215.57-215.83 shall be known and may be cited as the “State Bond Act.”History.—s. 1, ch. 69-230.

The following words or terms when used in this act shall have the following meanings:(1) “Governor” means the Governor of the state or any Acting Governor or other person then exercising the duties of the office of Governor.(2) “State” means the State of Florida.(3) “Division” me…

(1) The issuance of state bonds pledging the full faith and credit of the state, pursuant to s. 11, Art. VII of the State Constitution, is hereby authorized upon approval by vote of the electors, except as otherwise authorized by said s. 11, Art. VII. The amount of such state bon…

(1) The issuance of state bonds to finance the acquisition and construction of roads, primarily payable from the revenues provided for by s. 9(c), Art. XII of the State Constitution and pledging the full faith and credit of the state, is hereby authorized, pursuant to the provisi…

(1) The issuance of state bonds to finance or refinance the cost of acquiring real property or the rights to real property for state roads as defined by law, or to finance or refinance the cost of state bridge construction, and purposes incidental to such property acquisition or …

(1) The issuance of school bonds, payable primarily from revenues as provided in s. 18, Art. XII of the State Constitution of 1885, as amended, and additionally secured by pledging the full faith and credit of the state, is hereby authorized pursuant to the provisions of s. 9(d),…