Florida § 288.1201 - State Economic Enhancement and Development Trust Fund.

§ 288.1201. State Economic Enhancement and Development Trust Fund.

(1) There is created within the Department of Commerce the State Economic Enhancement and Development Trust Fund. Moneys deposited in the trust fund shall be used for infrastructure and job creation opportunities and for the following purposes or programs: (a) Transportation facilities that meet a strategic and essential state interest with respect to the economic development of the state; (b) Affordable housing programs and projects in accordance with chapter 420; (c) Economic development incentives for job creation and capital investment; (d) Workforce training associated with locating a new business or expanding an existing business; and (e) Tourism promotion and marketing services, functions, and programs. (2) The trust fund is established for use as a depository for funds to be used for the purposes specified in subsection (1). Moneys to be credited to the trust fund shall consist of documentary stamp tax proceeds as specified in law, local financial support funds, interest earnings, and cash advances from other trust funds. Funds shall be expended only pursuant to legislative appropriation or an approved amendment to the department’s operating budget pursuant to the provisions of chapter 216. (3) Notwithstanding s. 216.301 and pursuant to s. 216.351, any balance in the trust fund at the end of any fiscal year shall remain in the trust fund at the end of the year and shall be available for carrying out the purposes of the trust fund.