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The Florida Statutes

The 2022 Florida Statutes

Title XIX
PUBLIC BUSINESS
Chapter 288
COMMERCIAL DEVELOPMENT AND CAPITAL IMPROVEMENTS
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F.S. 288.80125
288.80125 Triumph Gulf Coast Trust Fund.
(1) The Triumph Gulf Coast Trust Fund is created within the department. The trust fund is established as a depository for funds transferred, as set forth in s. 288.8013, from the General Revenue Fund pursuant to the “Settlement Agreement Between the Gulf States and the BP Entities with Respect to Economic and Other Claims Arising from the Deepwater Horizon Incident,” which was entered into on October 5, 2015, in the case styled In re: Oil Spill by the Oil Rig “Deepwater Horizon” in the Gulf of Mexico, on April 20, 2010, MDL 2179 in the United States District Court for the Eastern District of Louisiana. The trust fund is exempt from the general revenue service charge provided in s. 215.20.
(2) Funds from the trust fund shall be used for the purposes described in ss. 288.8011-288.8018.
1(3) For the 2022-2023 fiscal year, funds shall be used for the Rebuild Florida Revolving Loan Fund program to provide assistance to businesses impacted by Hurricane Michael as provided in the General Appropriations Act. This subsection expires July 1, 2023.
History.s. 1, ch. 2017-64; s. 92, ch. 2020-114; s. 2, ch. 2021-4; s. 52, ch. 2021-37; s. 73, ch. 2022-157.
1Note.Section 73, ch. 2022-157, amended subsection (3) “[i]n order to implement section 157 of the 2022-2023 General Appropriations Act.”