Post-Meeting Packet — Florida Senate Commerce and Tourism (February 7, 2022)
Summary
Post-meeting packet for the Commerce and Tourism committee of The Florida Senate, meeting of Monday, February 7, 2022, with Senator Hooper as Chair. The expanded agenda records SB 940 (Professional Structural Engineers) Favorable on Yeas 9 Nays 0, CS/SB 942 Favorable on Yeas 10 Nays 0, SB 1018 Fav/CS on Yeas 6 Nays 3, SB 1246 (LIBOR benchmark replacements) Fav/CS on Yeas 9 Nays 0, and SB 1316 (Resale of Tickets) Favorable on Yeas 9 Nays 0. Appointments to the Board of Directors, Enterprise Florida, Inc. each received Recommend Confirm on Yeas 9 Nays 0. A January 25, 2022 letter from Senator Dennis Baxley asks that SB 940 and CS/SB 942 be heard.
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Cite this document
“Post-Meeting Packet — Florida Senate Commerce and Tourism (February 7, 2022).”
Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/2022-02-07-post-meeting-packet-4890-54a1ef202f/
, SHA-256 7722d00b317ee1f3b6377224f852dea75464e1e2bbcea3324c8849053be237a9.Full text
Selection From: 02/07/2022 - Commerce and Tourism (2:30 PM - 4:30 PM) 2022 Regular Session
Customized 02/08/2022 1:21 PM
Agenda Order
Tab 1 SB 940 by Baxley; (Identical to H 00375) Professional Structural Engineers
Tab 2 CS/SB 942 by RI, Baxley; (Identical to H 00565) Fees/Professional Structural Engineer Licensing
Tab 3 SB 1018 by Burgess; (Identical to H 01509) Private Investigative and Security Services
902328 D S RCS CM, Burgess Delete everything after 02/08 11:24 AM
Tab 4 SB 1246 by Gruters; (Similar to CS/H 00925) Benchmark Replacements for London Interbank Offered Rate
235134 D S RCS CM, Gruters Delete everything after 02/08 11:24 AM
Tab 5 SB 1316 by Hooper; (Identical to H 00969) Resale of Tickets
Page 1 of 1
2022 Regular Session The Florida Senate
COMMITTEE MEETING EXPANDED AGENDA
COMMERCE AND TOURISM
Senator Hooper, Chair
Senator Wright, Vice Chair
MEETING DATE: Monday, February 7, 2022
TIME: 2:30—4:30 p.m.
PLACE: Toni Jennings Committee Room, 110 Senate Building
MEMBERS: Senator Hooper, Chair; Senator Wright, Vice Chair; Senators Diaz, Garcia, Gruters, Hutson, Pizzo,
Powell, Taddeo, and Torres
BILL DESCRIPTION and
TAB BILL NO. and INTRODUCER SENATE COMMITTEE ACTIONS COMMITTEE ACTION
1 SB 940 Professional Structural Engineers; Prohibiting a Favorable
Baxley person who is not licensed as an engineer from using Yeas 9 Nays 0
(Identical H 375, Compare H 565, a specified name or title; authorizing the Board of
Linked CS/S 942) Professional Engineers to refuse to certify an
applicant for a professional structural engineer license
for certain reasons; providing licensure and
application requirements for a professional structural
engineer license; specifying acts that constitute
grounds for disciplinary action, including civil
penalties, against a professional structural engineer,
etc.
RI 01/25/2022 Favorable
CM 02/07/2022 Favorable
RC
2 CS/SB 942 Fees/Professional Structural Engineer Licensing; Favorable
Regulated Industries / Baxley Authorizing the Board of Professional Engineers to Yeas 10 Nays 0
(Identical H 565, Compare H 375, establish fees relating to professional structural
Linked S 940) engineer licensing; requiring applicants to pay a
specified fee to be eligible to receive a professional
structural engineer license, etc.
RI 01/25/2022 Fav/CS
CM 02/07/2022 Favorable
AP
3 SB 1018 Private Investigative and Security Services; Revising Fav/CS
Burgess eligibility requirements for certain licensees to carry Yeas 6 Nays 3
(Identical H 1509) firearms, etc.
CM 02/07/2022 Fav/CS
JU
RC
S-036 (10/2008)
02072022.1632 Page 1 of 2
COMMITTEE MEETING EXPANDED AGENDA
Commerce and Tourism
Monday, February 7, 2022, 2:30—4:30 p.m.
BILL DESCRIPTION and
TAB BILL NO. and INTRODUCER SENATE COMMITTEE ACTIONS COMMITTEE ACTION
4 SB 1246 Benchmark Replacements for London Interbank Fav/CS
Gruters Offered Rate; Requiring that recommended Yeas 9 Nays 0
(Similar CS/H 925, Compare H benchmark replacements selected or recommended
639) by specified persons be benchmark replacements on
the United States dollar London Interbank Offered
Rate (LIBOR) replacement date for certain contracts,
securities, and instruments; authorizing specified
persons to select benchmark replacements under
certain circumstances; requiring that benchmark
replacement conforming changes become an integral
part of contracts, securities, and instruments under
certain circumstances; providing that a person is not
liable for damages and is not subject to claims and
requests for equitable relief under certain
circumstances, etc.
BI 02/02/2022 Favorable
CM 02/07/2022 Fav/CS
RC
5 SB 1316 Resale of Tickets; Providing that certain tickets may Favorable
Hooper be sold as nontransferable tickets only under certain Yeas 9 Nays 0
(Identical H 969) circumstances; providing exceptions; defining the
term “nontransferable ticket”; prohibiting the original
ticket seller from taking certain actions against a
person who purchases or resells a ticket, etc.
CM 02/07/2022 Favorable
JU
RC
TAB OFFICE and APPOINTMENT (HOME CITY) FOR TERM ENDING COMMITTEE ACTION
Senate Confirmation Hearing: A public hearing will be held for consideration of the below-
named executive appointment to the office indicated.
Board of Directors, Enterprise Florida, Inc.
6 Cruise, Rodney (Enterprise) 09/30/2025 Recommend Confirm
Yeas 9 Nays 0
7 Deen Hartley, Sonya (Tallahassee) 09/30/2023 Recommend Confirm
Yeas 9 Nays 0
8 Ross, Scott (Tallahassee) 09/30/2024 Recommend Confirm
Yeas 9 Nays 0
BILL DESCRIPTION and
TAB BILL NO. and INTRODUCER SENATE COMMITTEE ACTIONS COMMITTEE ACTION
Other Related Meeting Documents
S-036 (10/2008)
02072022.1632 Page 2 of 2
THE FLORIDA SENATE
Tallahassee, Florida 32399-1100
COMMITTEES:
Ethics and Elections, Chair
Appropriations
Appropriations Subcommittee on Criminal and Civil Justice
Community Affairs
Criminal Justice
Health Policy
Judiciary
Rules
SENATOR DENNIS BAXLEY JOINT COMMITTEE:
12th District Joint Legislative Auditing Committee, Alternating Chair
January 25, 2022
The Honorable Senator Ed Hooper
302 Senate Office Building
Tallahassee, FL 32399
Dear Chairman Hooper,
I would like to request that SB 940 Professional Structural Engineers & CS/SB 942 Fees for Structural
Engineers Licensing be heard in the next Regulated Industries Committee meeting.
SB 940 authorizes the Florida Board of Professional Engineers (board) to establish minimum standards of
practice for the profession of structural engineering, which includes the structural analysis and design of
components for threshold buildings (those higher than 50 feet/three stories or with an occupancy of
greater than 500 persons) as well as the practice of engineering under current law.
The bill prohibits, effective March 1, 2024, the practice of professional structural engineering by
any person who is not a licensed professional structural engineer or otherwise exempted from
licensure under ch. 471, F.S., related to engineering.
The bill authorizes the board to certify persons as qualified to practice structural engineering if
they are licensed or qualify for licensure as an engineer, have at least 4 years of active structural
engineering experience under the supervision of a licensed engineer, have passed certain
professional examinations, and meet other administrative requirements.
CS/SB 942, relating to Fees/Professional Structural Engineer Licensing, is linked to this bill, and
provides for the establishment of licensing fees by the Board of Professional Engineering to be
paid by persons seeking licensure as a professional structural engineer.
I appreciate your favorable consideration.
Onward & Upward,
Senator Dennis Baxley
Senate District 12
cc: Todd McKay, Staff Director
REPLY TO:
206 South Hwy 27/441, Lady Lake, Florida 32159 (352) 750-3133
315 SE 25th Avenue, Ocala, Florida 34471 (352) 789-6720
412 Senate Building, 404 South Monroe Street, Tallahassee, Florida 32399-1100 (850) 487-5012
Senate’s Website: www.flsenate.gov
Wilton Simpson Aaron Bean
President of the Senate President Pro Tempore
The Florida Senate
BILL ANALYSIS AND FISCAL IMPACT STATEMENT
(This document is based on the provisions contained in the legislation as of the latest date listed below.)
Prepared By: The Professional Staff of the Committee on Commerce and Tourism
BILL: SB 940
INTRODUCER: Senator Baxley
SUBJECT: Professional Structural Engineers
DATE: February 7, 2022 REVISED:
ANALYST STAFF DIRECTOR REFERENCE ACTION
1. Kraemer Imhof RI Favorable
2. Renner McKay CM Favorable
3. RC
I. Summary:
SB 940 authorizes the Florida Board of Professional Engineers (board) to establish minimum
standards of practice for the profession of structural engineering, which includes the structural
analysis and design of components for threshold buildings (those higher than 50 feet/three stories
or with an occupancy of greater than 500 persons), including engineering that requires significant
structural engineering education, training, experience, and examination, as determined by the
board.
The bill prohibits, effective March 1, 2024, the practice of professional structural engineering by
any person who is not a licensed professional structural engineer or otherwise exempted from
licensure under ch. 471, F.S., relating to engineering.
Under the bill, the following titles may not be used by persons who are not licensed or exempt
from licensing under current law relating to engineering: “licensed structural engineer,”
“professional structural engineer,” or “registered structural engineer,” or any designation that
indicates a person holds an active license.
The bill authorizes the board to certify persons as qualified to be licensed to practice professional
structural engineering if they are licensed or qualify for licensure as an engineer, have at least
four years of active structural engineering experience under the supervision of a licensed
professional engineer, have passed certain professional examinations, and meet other
administrative requirements. The bill also requires the board to certify qualified foreign or out-
of-state applicants for licensure by endorsement in certain circumstances.
SB 942, relating to Fees/Professional Structural Engineer Licensing, is linked to this bill, and
provides for the establishment of licensing fees by the board to be paid by persons seeking
licensure as a professional structural engineer.
BILL: SB 940 Page 2
See Section V, Fiscal Impact Statement.
The bill provides an effective date of July 1, 2022.
II. Present Situation:
Regulation of Professional Engineers
The practice of engineering is regulated by the board. Section 471.005(7), F.S., defines the term
“engineering” to include:
the term “professional engineering” and means any service or creative
work, the adequate performance of which requires engineering education,
training, and experience in the application of special knowledge of the
mathematical, physical, and engineering sciences to such services or
creative work as consultation, investigation, evaluation, planning, and
design of engineering works and systems, planning the use of land and
water, teaching of the principles and methods of engineering design,
engineering surveys, and the inspection of construction for the purpose of
determining in general if the work is proceeding in compliance with
drawings and specifications, any of which embraces such services or work,
either public or private, in connection with any utilities, structures,
buildings, machines, equipment, processes, work systems, projects, and
industrial or consumer products or equipment of a mechanical, electrical,
hydraulic, pneumatic, or thermal nature, insofar as they involve
safeguarding life, health, or property; and includes such other professional
services as may be necessary to the planning, progress, and completion of
any engineering services. A person who practices any branch of
engineering; who, by verbal claim, sign, advertisement, letterhead, or card,
or in any other way, represents himself or herself to be an engineer or,
through the use of some other title, implies that he or she is an engineer or
that he or she is licensed under this chapter; or who holds himself or herself
out as able to perform, or does perform, any engineering service or work or
any other service designated by the practitioner which is recognized as
engineering shall be construed to practice or offer to practice engineering
within the meaning and intent of this chapter [ch. 471, Engineering].
Unlike most Department of Business and Professional Regulation (DBPR) professions, the
administrative, investigative, and prosecutorial services for the board are not provided by the
DBPR. The DBPR contracts with the Florida Engineers Management Corporation (FEMC), a
nonprofit corporation, to provide such services.1 The FEMC is a public-private nonprofit
association that has contracted with the DBPR to handle administrative, investigative, and
prosecutorial services for the Board of Professional Engineers.2
1
See s. 471.038, F.S., the Florida Engineers Management Corporation Act, for the duties and authority of the FEMC.
2
See the Annual Report of the FEMC for FY 2020-2021, available at https://fbpe.org/wp-content/uploads/2021/10/2020-21-
FEMC-Annual-Report.pdf (last visited Feb. 4, 2022), and the contract between the DBPR and the FEMC for the period
BILL: SB 940 Page 3
Section 471.008, F.S., authorizes the board to adopt rules to implement the provisions of
ch. 471, F.S., and for ch. 455, F.S., which provides the general licensing procedures for
professional licensing by the DBPR and its professional licensing boards. The board has adopted
responsibility rules for the profession of engineering addressing a variety of issues, including the
design of structures and fire protection systems.3
There were 62,909 licensed professional engineers in Fiscal Year 2020-2021.4 The FEMC
processed 231 complaints regarding engineering practice during that period, with 137 of those
complaints found to be legally sufficient to proceed, and filed 68 administrative complaints in
cases where probable cause was found relating to a violation of the practice act.5
Professional Engineer License Qualifications and Exemptions
Section 471.013, F.S., provides the license qualifications for a professional engineer. In order to
be licensed as a professional engineer, a person must successfully pass two examinations: the
fundamentals examination and the principles and practices examination. Prior to being permitted
to sit for the fundamentals examination, an applicant must have graduated from:
An approved engineering science curriculum of four years or more in a board-approved
school, college, or university; or
An approved engineering technology curriculum of four years or more in a board-approved
school, college, or university.6
The FEMC must issue a license to any applicant who the board certifies is qualified to practice
engineering and who has passed the fundamentals examination and the principles and practice
examination.7
Under s. 471.015(2), F.S., the board must certify for licensure any applicant who has submitted
proof of being at least 18 years old and has the required engineering experience. For graduates of
an approved engineering science curriculum, the applicant must have a record of at least four
years of active engineering experience sufficient to indicate competence to be in responsible
charge of engineering. Graduates of an approved engineering technology curriculum must have a
record of at least six years of such qualified experience.8
between July 1, 2021 and June 30, 2025 at https://fbpe.org/wp-content/uploads/2021/10/2021-25-DBPR-FEMC-Contract.pdf
(last visited Feb. 4, 2022).
3
The responsibility rules are in Fla. Admin. Code Chapters 61G15-30, 61G15-31, 61G15-32, and 61G15-33 (2021).
4
There were 530 inactive professional engineering licenses in that fiscal year. See Department of Business and Professional
Regulation, Annual Report, Fiscal Year 2020-2021, for the Divisions of Certified Public Accounting, Professions, Real
Estate, and Regulation (2020-2021 Annual Report) at p. 20, at
http://www.myfloridalicense.com/DBPR/os/documents/DivisionAnnualReport_FY2021.pdf (last visited Feb. 4, 2022).
5
See the Annual Report of the FEMC for FY 2020-2021, at https://fbpe.org/wp-content/uploads/2021/10/2020-21-FEMC-
Annual-Report.pdf, at p. 2 (last visited Feb. 4, 2022). The FEMC also filed 89 Final Orders with the DBPR; entered into
three negotiations, and tried one administrative hearing; dismissed two cases after re-consideration; issued 16 reprimands,
three suspensions, four probations, three project reviews, and three license restrictions; and imposed $44,765.23 in
administrative costs and $58,500 in fines. The board also issued 88 Final Orders against licensees.
6
Section 471.013(1)(a), F.S.
7
Section 471.015(1), F.S.
8
See ss. 471.015(2)(a)1. and 2., F.S.
BILL: SB 940 Page 4
Section 471.003(2), F.S., identifies those persons who are exempted from the licensing
requirements of ch. 471, F.S.
Special Inspectors of Threshold Buildings
Section 471.015(7), F.S., authorizes the board to establish by rule the qualifications for
certification of licensees as inspectors of threshold buildings. A “threshold building” is “any
building which is greater than three stories or 50 feet in height, or which has an assembly
occupancy classification as defined in the Florida Building Code which exceeds 5,000 square
feet in area and an occupant content of greater than 500 persons.”9
The board is also authorized to establish minimum qualifications for the qualified representative
of the special inspector who is authorized to perform inspections of threshold buildings on behalf
of the special inspector.10
The agency charged with enforcing the building code (enforcing agency)11 must require a special
inspector to perform structural inspections on a threshold building pursuant to a structural
inspection plan prepared by the engineer or architect of record.12
Use of Engineer Seals
Section 471.025(1), F.S., authorizes the board to prescribe, by rule, one or more forms of seal to
be used by licensed engineers. Each licensee must obtain at least one seal.13 All final drawings,
specifications, plans, reports, or documents prepared or issued by the licensee and filed for
public record and all final documents provided to the owner or the owner’s representative must
be signed by the licensee, dated, and sealed with the seal.14 The signature, date, and seal are
evidence of the authenticity of the document to which they are affixed.15
A licensee may not affix or permit to be affixed his or her seal, name, or digital signature to any
plan, specification, drawing, final bid document, or other document that depicts work which he
or she is not licensed to perform or which is beyond his or her profession or specialty.16
A successor engineer seeking to reuse documents previously sealed by another engineer must be
able to independently re-create all of the work done by the original engineer, and assumes full
9
See s. 553.71(12), F.S.
10
See s. 471.015(7), F.S.
11
See s. 553.71(5), F.S., which defines the term “local enforcement agency” to mean “an agency of local government, a local
school board, a community college board of trustees, or a university board of trustees in the State University System with
jurisdiction to make inspections of buildings and to enforce the codes which establish standards for design, construction,
erection, alteration, repair, modification, or demolition of public or private buildings, structures, or facilities.”
12
Section 553.79(5)(a), F.S.
13
Section 471.025(1), F.S.
14
Id.
15
Id.
16
Section 471.025(3), F.S.
BILL: SB 940 Page 5
professional and legal responsibility by signing and affixing his or her seal to the assumed
documents.17
Use of Descriptive Titles
Section 471.031, F.S., sets forth the permissible and prohibited titles for persons licensed under
ch. 471, F.S., and for persons who are otherwise exempted from such licensure. With certain
exceptions for persons exempted from licensure, the use of the name “professional engineer” or
any other title, designation, abbreviation, or indication that a person holds an active license as an
engineer when the person is not licensed under ch. 471, F.S., is prohibited, along with use of the
following titles:
Agricultural engineer;
Air-conditioning engineer;
Architectural engineer;
Building engineer;
Chemical engineer;
Civil engineer;
Control systems engineer;
Electrical engineer;
Environmental engineer;
Fire protection engineer;
Industrial engineer;
Manufacturing engineer;
Mechanical engineer;
Metallurgical engineer;
Mining engineer;
Minerals engineer;
Marine engineer;
Nuclear engineer;
Petroleum engineer;
Plumbing engineer;
Structural engineer;
Transportation engineer;
Software engineer;
Computer hardware engineer; and
Systems engineer.18
Any person who violates the provisions commits a misdemeanor of the first degree.19
17
Section 471.025(4), F.S. The original engineer is released from any professional responsibility or civil liability for work
that is assumed.
18
See s. 471.031(1)(b), F.S.
19
Section 471.031(2), F.S. A first degree misdemeanor is punishable by up to a year in county jail and a fine not exceeding
$1,000. Sections 775.082 and 775.083, F.S.
BILL: SB 940 Page 6
Imposition of Discipline by the Board
The conduct that constitutes grounds for the imposition of discipline by the board are set forth in
s. 471.033, F.S. Such discipline includes denial of an application for licensure, suspension or
revocation of a license, imposition of fines, reprimands, probation, or restitution, and restriction
of the authorized scope of practice of a licensee.20
Voluntary Structural Engineer Associations
The Florida Structural Engineers Association (FSEA) provides input on building codes and
enforcement and sponsors technical seminars to address common concerns of the profession.21
Members of FSEA become members of the National Council of Structural Engineers
Associations (NCSEA).22 The NCSEA was formed to improve the standard level of practice of
the structural engineering profession and provide an identifiable resource for seeking
communication with the profession.23 It advocates for the practice of structural engineering on
behalf of its 44 member organizations.24 According to the NCSEA, two states restrict who may
use the title “structural engineer,”25 eight states have a partial practice act for structural
engineers,26 and two states have a full practice act for structural engineers.27
The National Council of Examiners for Engineering and Surveying is a nonprofit organization
composed of 69 engineering and surveying licensing boards from all 50 states, the District of
Columbia, Guam, Northern Mariana Islands, Puerto Rico, and the U.S. Virgin Islands.28 It
provides services including engineering examinations, surveying examinations, exam preparation
materials, records programs, and credentials evaluations among other services to licensing
jurisdictions.29
III. Effect of Proposed Changes:
Section 1 amends s. 471.003, F.S., to prohibit, effective March 1, 2024, the practice of
professional structural engineering by any person who is not a licensed professional structural
engineer or otherwise exempted from licensure under ch. 471, F.S., related to engineering.
The bill prohibits the use of the name or title of “licensed structural engineer,” “professional
structural engineer,” or “registered structural engineer” or any other title that indicates an
unlicensed person is a licensed professional structural engineer in this state. The bill amends
s. 471.003(2), F.S., to clarify that certain persons are not required to be licensed as a licensed
professional structural engineer, and this exemption includes contractors performing work
designed by a professional structural engineer.
20
Section 471.033(3), F.S.
21
See http://www.flsea.com/ and https://flsea.com/Messages_from_the_President (last visited Feb. 4, 2022).
22
Id.
23
See http://www.ncsea.com/about/ (last visited Feb. 4, 2022).
24
Id.
25
Idaho and Nebraska. See http://www.ncsea.com/resources/licensure/ (last visited Feb. 4, 2022).
26
Alaska, California, Georgia, Nevada, Oklahoma, Oregon, Utah, and Washington. Id.
27
Illinois and Hawaii. Id.
28
See The National Council of Examiners for Engineering and Surveying (ncees.org) (last visited Feb. 4, 2022).
29
Id.
BILL: SB 940 Page 7
Section 2 amends s. 471.005, F.S., to define the term “professional structural engineer” to mean
a person who is licensed to engage in the practice of professional structural engineering in
Florida under ch. 471, F.S.
The bill defines the term “professional structural engineering” to mean a service or creative work
that includes the structural analysis and design of structural components or systems for threshold
buildings.30 The term includes engineering that requires significant structural engineering
education, training, experience, and examination, as determined by the board.
The bill allows a retired professional structural engineer to be granted use of the title
“professional engineer, retired” or “professional structural engineer, retired” by the board, if the
retiree has:
Been licensed as a professional engineer by the board;
Relinquished or not renewed a license; and
Applied to and been approved by the board to use such title.
Section 3 amends s. 471.013(2)(a), F.S., relating to licensure, to include a reference to licensed
professional structural engineers.
Section 4 amends s. 471.015, F.S., to authorize the FEMC to license a person it certifies is
qualified to practice professional structural engineering if they are licensed or qualify for
licensure as an engineer, have at least four years of active professional structural engineering
experience under the supervision of a licensed professional engineer, have passed certain
professional examinations, and meet other administrative requirements.
Under the bill, an applicant for licensure as a professional structural engineer must:
Be licensed as an engineer, or qualify for licensure, under ch. 471, F.S.;
Submit an application in the format prescribed by the board;
Provide satisfactory evidence of good moral character, as defined by the board;
Provide a record of four years of active professional structural engineering experience, as
defined by the board, under the supervision of a licensed professional engineer; and
Have successfully passed the 16-hour National Council of Examiners for Engineering and
Surveying Structural Engineering examination.
Before March 1, 2024, a qualified applicant may satisfy the 16-hour examination requirement
by:
Submitting a signed affidavit in the format prescribed by the board that states the applicant is
currently a licensed engineer in Florida and has been engaged in the practice of structural
engineering with a record of at least four years of active structural engineering design
experience;
Possessing a current professional engineering license and filing the necessary documentation
as required by the board, or possessing a current threshold inspector license; and
30
Section 553.71(12), F.S., provides a “threshold building” is “any building which is greater than three stories or 50 feet in
height, or which has an assembly occupancy classification as defined in the Florida Building Code which exceeds 5,000
square feet in area and an occupant content of greater than 500 persons.”
BILL: SB 940 Page 8
Agreeing to meet with the board or its representative, at the board’s request, for the purpose
of evaluating the applicant’s qualifications for licensure.
An applicant who qualifies for licensure as an engineer may simultaneously apply for licensure
as a professional structural engineer, if all the above requirements and all education,
examination, experience, and good moral character requirements set forth in s. 471.013, F.S., are
met.
The bill sets forth the following requirements for board certification of an applicant as qualified
for licensure as a professional structural engineer by endorsement:
An applicant who holds a license to practice either engineering or professional structural
engineering issued by another state or territory of the United States, if the criteria for
issuance of the license were substantially the same as the licensure criteria that existed in
Florida at the time the license was issued; or
An applicant who holds a valid license to practice professional structural engineering issued
by another state or territory of the United States and who has successfully passed one of the
following 16-hour examination combinations:
o The 8-hour National Council of Examiners for Engineering and Surveying31
Structural Engineering I examination and the 8-hour National Council of
Examiners for Engineering and Surveying Structural Engineering II examination.
o The 8-hour National Council of Examiners for Engineering and Surveying
Structural Engineering II examination and either the 8-hour National Council of
Examiners for Engineering and Surveying Civil: Structural examination or the 8-
hour National Council of Examiners for Engineering and Surveying Architectural
Engineering examination.
o The 16-hour Western States Structural Engineering examination.
o The 8-hour National Council of Examiners for Engineering and Surveying
Structural Engineering II examination, and either the 8-hour California Structural
Engineering Seismic III examination, or the 8-hour Washington Structural
Engineering III examination.
Section 5 amends s. 471.019, F.S., relating to reinstatement of void licenses, to include a
reference to licensed professional structural engineers.
Section 6 amends s. 471.025(2), F.S., regarding the use of seals on documents, to include a
reference to the use of seals when a professional structural engineer’s license is revoked or
suspended.
Section 7 amends s. 471.031, F.S., to provide that beginning March 1, 2024, no person may
practice professional structural engineering unless the person is licensed as a professional
structural engineer or exempt from licensure under ch. 471, F.S. The bill also provides that the
31
The National Council of Examiners for Engineering and Surveying (NCEES) is a nonprofit organization dedicated to
advancing professional licensure for engineers and surveyors. In the United States, engineers and surveyors are licensed at
the state and territory level. NCEES was created in 1920 and provides services for licensure and facilitation of mobility
among licensing jurisdictions, including the development and scoring of examinations for licensure. See National Council of
Examiners for Engineering and Surveying, Advancing Licensure for Engineers and Surveyors, available at
https://ncees.org/about/ (last visited Jan. 19, 2022).
BILL: SB 940 Page 9
following titles may not be used by persons who are not licensed, or otherwise exempt from
licensing, under ch. 471, F.S., relating to engineering: “licensed structural engineer,”
“professional structural engineer,” “registered structural engineer,” or “structural engineer.”
Section 8 amends s. 471.033, F.S., related to disciplinary proceedings, to revise the acts that
constitute grounds for discipline, to include acts related to the practice of professional structural
engineering.
Section 9 amends s. 471.037(1), F.S., related to the construction of provisions in ch. 471, F.S., to
provide that local building codes, zoning laws, or ordinances may be more restrictive concerning
the services of licensed professional structural engineers.
Section 10 amends s. 471.0385, F.S., related to certain authorizations granted to the Governor.
The bill grants authority to the Governor to reestablish positions, budget authority, and salary
rate necessary to carry out the DBPR’s responsibilities relating to “professional structural
engineers,” in the event the Florida Engineers Management Corporation Act32 is held to be
unconstitutional or to violate state or federal antitrust laws.
Section 11 provides an effective date of July 1, 2022.
The bill also includes technical drafting changes and conforming changes.
IV. Constitutional Issues:
A. Municipality/County Mandates Restrictions:
None.
B. Public Records/Open Meetings Issues:
None.
C. Trust Funds Restrictions:
None.
D. State Tax or Fee Increases:
None.
E. Other Constitutional Issues:
None.
32
See s. 471.038, F.S.
BILL: SB 940 Page 10
V. Fiscal Impact Statement:
A. Tax/Fee Issues:
None.
B. Private Sector Impact:
Beginning March 1, 2024, persons who are licensed engineers in Florida and those who
perform work that comes within the definition in the bill for “professional structural
engineering” will be required to obtain additional licensing to perform such work.
C. Government Sector Impact:
The creation of an additional licensing and regulatory structure for professional structural
engineers may result in a fiscal impact to the DBPR or the FEMC. To date, no analysis
by the DBPR or the FEMC of the impact of the bill on their respective operations,
revenue, and expenditures has been provided.
VI. Technical Deficiencies:
None.
VII. Related Issues:
SB 942, relating to Fees/Professional Structural Engineer Licensing, is linked to this bill.
VIII. Statutes Affected:
This bill substantially amends the following sections of the Florida Statutes: 471.003, 471.005,
471.013, 471.015, 471.019, 471.025, 471.031, 471.033, 471.037, and 471.0385.
IX. Additional Information:
A. Committee Substitute – Statement of Changes:
(Summarizing differences between the Committee Substitute and the prior version of the bill.)
None.
B. Amendments:
None.
This Senate Bill Analysis does not reflect the intent or official position of the bill’s introducer or the Florida Senate.
Florida Senate - 2022 SB 940 Florida Senate - 2022 SB 940
By Senator Baxley
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1 A bill to be entitled 30 ss. 471.037 and 471.0385, F.S.; conforming provisions
2 An act relating to professional structural engineers; 31 to changes made by the act; providing an effective
3 amending s. 471.003, F.S.; prohibiting a person who is 32 date.
4 not licensed as an engineer from using a specified 33
5 name or title; prohibiting, after a date certain, 34 Be It Enacted by the Legislature of the State of Florida:
6 specified persons from using specified names and 35
7 titles or practicing professional structural 36 Section 1. Subsections (1) and (2) of section 471.003,
8 engineering; exempting certain persons from licensing 37 Florida Statutes, are amended to read:
9 requirements; amending s. 471.005, F.S.; providing and 38 471.003 Qualifications for practice; exemptions.—
10 revising definitions; amending s. 471.013, F.S.; 39 (1)(a) No person other than a duly licensed engineer shall
11 authorizing the Board of Professional Engineers to 40 practice engineering or use the name or title of “licensed
12 refuse to certify an applicant for a professional 41 engineer,” “professional engineer,” or “registered engineer” or
13 structural engineer license for certain reasons; 42 any other title, designation, words, letters, abbreviations, or
14 amending s. 471.015, F.S.; providing licensure and 43 device tending to indicate that such person holds an active
15 application requirements for a professional structural 44 license as an engineer in this state.
16 engineer license; exempting certain applicants who 45 (b) Effective March 1, 2024, only a person who is a duly
17 apply for licensure before a date certain from having 46 licensed professional structural engineer shall engage in the
18 to pass a certain national examination, under certain 47 practice of professional structural engineering or use the name
19 conditions; requiring the board to certify certain 48 or title of “licensed structural engineer,” “professional
20 applicants for licensure by endorsement; amending ss. 49 structural engineer,” or “registered structural engineer” or any
21 471.019 and 471.025, F.S.; conforming provisions to 50 other title, designation, words, letters, abbreviations, or
22 changes made by the act; amending s. 471.031, F.S.; 51 device tending to indicate that such person holds an active
23 prohibiting certain persons from practicing 52 license as a professional structural engineer in this state.
24 professional structural engineering after a date 53 (2) The following persons are not required to be licensed
25 certain; prohibiting specified persons from using 54 under the provisions of this chapter as a licensed engineer or a
26 specified names and titles; amending s. 471.033, F.S.; 55 licensed professional structural engineer:
27 specifying acts that constitute grounds for 56 (a) Any person practicing engineering for the improvement
28 disciplinary action, including civil penalties, 57 of, or otherwise affecting, property legally owned by her or
29 against a professional structural engineer; amending 58 him, unless such practice involves a public utility or the
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59 public health, safety, or welfare or the safety or health of 88 foreman or superintendent.
60 employees. This paragraph may shall not be construed as 89 (g) A licensed surveyor and mapper who takes, or contracts
61 authorizing the practice of engineering through an agent or 90 for, professional engineering services incidental to her or his
62 employee who is not duly licensed under the provisions of this 91 practice of surveying and mapping and who delegates such
63 chapter. 92 engineering services to a licensed professional engineer
64 (b)1. A person acting as a public officer employed by any 93 qualified within her or his firm or contracts for such
65 state, county, municipal, or other governmental unit of this 94 professional engineering services to be performed by others who
66 state when working on any project the total estimated cost of 95 are licensed professional engineers under the provisions of this
67 which is $10,000 or less. 96 chapter.
68 2. Persons who are employees of any state, county, 97 (h) Any electrical, plumbing, air-conditioning, or
69 municipal, or other governmental unit of this state and who are 98 mechanical contractor whose practice includes the design and
70 the subordinates of a person in responsible charge licensed 99 fabrication of electrical, plumbing, air-conditioning, or
71 under this chapter, to the extent that the supervision meets 100 mechanical systems, respectively, which she or he installs by
72 standards adopted by rule of the board. 101 virtue of a license issued under chapter 489, under former part
73 (c) Regular full-time employees of a corporation not 102 I of chapter 553, Florida Statutes 2001, or under any special
74 engaged in the practice of engineering as such, whose practice 103 act or ordinance when working on any construction project which:
75 of engineering for such corporation is limited to the design or 104 1. Requires an electrical or plumbing or air-conditioning
76 fabrication of manufactured products and servicing of such 105 and refrigeration system with a value of $125,000 or less; and
77 products. 106 2.a. Requires an aggregate service capacity of 600 amperes
78 (d) Regular full-time employees of a public utility or 107 (240 volts) or less on a residential electrical system or 800
79 other entity subject to regulation by the Florida Public Service 108 amperes (240 volts) or less on a commercial or industrial
80 Commission, Federal Energy Regulatory Commission, or Federal 109 electrical system;
81 Communications Commission. 110 b. Requires a plumbing system with fewer than 250 fixture
82 (e) Employees of a firm, corporation, or partnership who 111 units; or
83 are the subordinates of a person in responsible charge, licensed 112 c. Requires a heating, ventilation, and air-conditioning
84 under this chapter. 113 system not to exceed a 15-ton-per-system capacity, or if the
85 (f) Any person as contractor in the execution of work 114 project is designed to accommodate 100 or fewer persons.
86 designed by a professional engineer or a professional structural 115 (i) Any general contractor, certified or registered
87 engineer or in the supervision of the construction of work as a 116 pursuant to the provisions of chapter 489, when negotiating or
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117 performing services under a design-build contract as long as the 146 training, experience, and examination, as determined by the
118 engineering services offered or rendered in connection with the 147 board.
119 contract are offered and rendered by an engineer or a 148 (12)(10) “Retired professional engineer,” or “professional
120 professional structural engineer licensed under in accordance 149 engineer, retired,” “retired professional structural engineer,”
121 with this chapter. 150 or “professional structural engineer, retired” means a person
122 (j) Any defense, space, or aerospace company, whether a 151 who has been duly licensed as a professional engineer by the
123 sole proprietorship, firm, limited liability company, 152 board and who chooses to relinquish or not to renew his or her
124 partnership, joint venture, joint stock association, 153 license and applies to and is approved by the board to be
125 corporation, or other business entity, subsidiary, or affiliate, 154 granted the title “Professional Engineer, Retired” or
126 or any employee, contract worker, subcontractor, or independent 155 “Professional Structural Engineer, Retired.”
127 contractor of the defense, space, or aerospace company who 156 Section 3. Paragraph (a) of subsection (2) of section
128 provides engineering for aircraft, space launch vehicles, launch 157 471.013, Florida Statutes, is amended to read:
129 services, satellites, satellite services, or other defense, 158 471.013 Examinations; prerequisites.—
130 space, or aerospace-related product or services, or components 159 (2)(a) The board may refuse to certify an applicant for
131 thereof. 160 failure to satisfy the requirement of good moral character only
132 Section 2. Subsections (10) through (12) of section 161 if:
133 471.005, Florida Statutes, are renumbered as subsections (12) 162 1. There is a substantial connection between the lack of
134 through (14), respectively, present subsection (10) is amended, 163 good moral character of the applicant and the professional
135 and new subsections (10) and (11) are added to that section, to 164 responsibilities of a licensed engineer or licensed professional
136 read: 165 structural engineer; and
137 471.005 Definitions.—As used in this chapter, the term: 166 2. The finding by the board of lack of good moral character
138 (10) “Professional structural engineer” means a person who 167 is supported by clear and convincing evidence.
139 is licensed to engage in the practice of professional structural 168 Section 4. Subsections (3) through (7) of section 471.015,
140 engineering under this chapter. 169 Florida Statutes, are renumbered as subsections (4) through (8),
141 (11) “Professional structural engineering” means a service 170 respectively, present subsection (3) is amended, and a new
142 or creative work that includes the structural analysis and 171 subsection (3) is added to that section, to read:
143 design of structural components or systems for threshold 172 471.015 Licensure.—
144 buildings as defined in s. 553.71. The term includes engineering 173 (3)(a) The management corporation shall issue a
145 which requires significant structural engineering education, 174 professional structural engineer license to any applicant whom
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175 the board certifies as qualified to practice professional 204 (c) An applicant who qualifies for licensure as an engineer
176 structural engineering and who meets all of the following 205 under s. 471.013 may simultaneously apply for licensure as a
177 requirements: 206 professional structural engineer if all requirements of s.
178 1. Is licensed under this chapter as an engineer or is 207 471.013 and this subsection are met.
179 qualified for licensure as an engineer. 208 (4)(3) The board shall certify as qualified for a license
180 2. Submits an application in the format prescribed by the 209 by endorsement an applicant who:
181 board. 210 (a) In engineering, by endorsement, an applicant who
182 3. Provides satisfactory evidence of good moral character, 211 qualifies to take the fundamentals examination and the
183 as defined by the board. 212 principles and practice examination as set forth in s. 471.013,
184 4. Provides a record of 4 years of active structural 213 has passed a United States national, regional, state, or
185 engineering experience, as defined by the board, under the 214 territorial licensing examination that is substantially
186 supervision of a licensed professional engineer. 215 equivalent to the fundamentals examination and principles and
187 5. Has successfully passed the 16-hour National Council of 216 practice examination required by s. 471.013, and has satisfied
188 Examiners for Engineering and Surveying Structural Engineering 217 the experience requirements set forth in paragraph (2)(a) and s.
189 examination. 218 471.013; or
190 (b) Before March 1, 2024, an applicant who satisfies the 219 (b) In engineering or professional structural engineering,
191 requirements of subparagraphs (a)1.-4. may satisfy subparagraph 220 by endorsement, an applicant who holds a valid license to
192 (a)5. by: 221 practice engineering or, for professional structural
193 1. Submitting a signed affidavit in the format prescribed 222 engineering, an applicant who holds a valid license to practice
194 by the board which states that the applicant is currently a 223 professional structural engineering, issued by another state or
195 licensed engineer in this state and has been engaged in the 224 territory of the United States, if the criteria for issuance of
196 practice of structural engineering with a record of at least 4 225 the license were substantially the same as the licensure
197 years of active structural engineering design experience; 226 criteria that existed in this state at the time the license was
198 2. Possessing a current professional engineering license 227 issued; or
199 and filing the necessary documentation as required by the board, 228 (c) In professional structural engineering, by endorsement,
200 or possessing a current threshold inspector license; and 229 an applicant who holds a valid license to practice professional
201 3. Agreeing to meet with the board or a representative of 230 structural engineering issued by another state or territory of
202 the board, upon the board’s request, for the purpose of 231 the United States and who has successfully passed one of the
203 evaluating the applicant’s qualifications for licensure. 232 following 16-hour examination combinations:
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233 1. The 8-hour National Council of Examiners for Engineering 262 471.025 Seals.—
234 and Surveying Structural Engineering I examination and the 8- 263 (2) It is unlawful for any person to seal or digitally sign
235 hour National Council of Examiners for Engineering and Surveying 264 any document with a seal or digital signature after his or her
236 Structural Engineering II examination. 265 license has expired or been revoked or suspended, unless such
237 2. The 8-hour National Council of Examiners for Engineering 266 license is has been reinstated or reissued. When an engineer’s
238 and Surveying Structural Engineering II examination and either 267 or a professional structural engineer’s license is has been
239 the 8-hour National Council of Examiners for Engineering and 268 revoked or suspended by the board, the licensee shall, within a
240 Surveying Civil: Structural examination or the 8-hour National 269 period of 30 days after the revocation or suspension has become
241 Council of Examiners for Engineering and Surveying Architectural 270 effective, surrender his or her seal to the executive director
242 Engineering examination. 271 of the board and confirm to the executive director the
243 3. The 16-hour Western States Structural Engineering 272 cancellation of the licensee’s digital signature in accordance
244 examination. 273 with ss. 668.001-668.006. In the event the engineer’s license
245 4. The 8-hour National Council of Examiners for Engineering 274 has been suspended for a period of time, his or her seal shall
246 and Surveying Structural Engineering II examination and either 275 be returned to him or her upon expiration of the suspension
247 the 8-hour California Structural Engineering Seismic III 276 period.
248 examination or the 8-hour Washington Structural Engineering III 277 Section 7. Paragraphs (b) through (g) of subsection (1) of
249 examination. 278 section 471.031, Florida Statutes, are redesignated as
250 Section 5. Section 471.019, Florida Statutes, is amended to 279 paragraphs (c) through (h), respectively, present paragraph (b)
251 read: 280 of that subsection is amended, and a new paragraph (b) is added
252 471.019 Reactivation.—The board shall establish by rule a 281 to that subsection, to read:
253 reinstatement process for void licenses. The rule shall 282 471.031 Prohibitions; penalties.—
254 prescribe appropriate continuing education requirements for 283 (1) A person may not:
255 reactivating a license. The continuing education requirements 284 (b) Beginning March 1, 2024, practice professional
256 for reactivating a license for a licensed engineer or a licensed 285 structural engineering unless the person is licensed as a
257 professional structural engineer may not exceed the continuing 286 professional structural engineer or is exempt from licensure
258 education requirements prescribed pursuant to s. 471.017 for 287 under this chapter.
259 each year the license was inactive. 288 (c)(b)1. Except as provided in subparagraph 2. or
260 Section 6. Subsection (2) of section 471.025, Florida 289 subparagraph 3., use the name or title “professional engineer”
261 Statutes, is amended to read: 290 or any other title, designation, words, letters, abbreviations,
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291 or device tending to indicate that such person holds an active 320 structural engineer,” or “structural engineer,” and if that
292 license as an engineer when the person is not licensed under 321 person is a graduate from an approved engineering curriculum of
293 this chapter, including, but not limited to, the following 322 4 years or more in a school, college, or university which has
294 titles: “agricultural engineer,” “air-conditioning engineer,” 323 been approved by the board.
295 “architectural engineer,” “building engineer,” “chemical 324 Section 8. Paragraphs (b) through (e) and (g) of subsection
296 engineer,” “civil engineer,” “control systems engineer,” 325 (1) and subsection (4) of section 471.033, Florida Statutes, are
297 “electrical engineer,” “environmental engineer,” “fire 326 amended to read:
298 protection engineer,” “industrial engineer,” “manufacturing 327 471.033 Disciplinary proceedings.—
299 engineer,” “mechanical engineer,” “metallurgical engineer,” 328 (1) The following acts constitute grounds for which the
300 “mining engineer,” “minerals engineer,” “marine engineer,” 329 disciplinary actions in subsection (3) may be taken:
301 “nuclear engineer,” “petroleum engineer,” “plumbing engineer,” 330 (b) Attempting to procure a license to practice engineering
302 “structural engineer,” “transportation engineer,” “software 331 or professional structural engineering by bribery or fraudulent
303 engineer,” “computer hardware engineer,” or “systems engineer.” 332 misrepresentations.
304 2. Any person who is exempt from licensure under s. 333 (c) Having a license to practice engineering or
305 471.003(2)(j) may use the title or personnel classification of 334 professional structural engineering revoked, suspended, or
306 “engineer” in the scope of his or her work under that exemption 335 otherwise acted against, including the denial of licensure, by
307 if the title does not include or connote the term “professional 336 the licensing authority of another state, territory, or country,
308 engineer,” “registered engineer,” “licensed engineer,” 337 for any act that would constitute a violation of this chapter or
309 “registered professional engineer,” or “licensed professional 338 chapter 455.
310 engineer,” “licensed structural engineer,” “professional 339 (d) Being convicted or found guilty of, or entering a plea
311 structural engineer,” or “registered structural engineer.” 340 of nolo contendere to, regardless of adjudication, a crime in
312 3. Any person who is exempt from licensure under s. 341 any jurisdiction which directly relates to the practice of
313 471.003(2)(c) or (e) may use the title or personnel 342 engineering, professional structural engineering, or the ability
314 classification of “engineer” in the scope of his or her work 343 to practice engineering or professional structural engineering.
315 under that exemption if the title does not include or connote 344 (e) Making or filing a report or record that the licensee
316 the term “professional engineer,” “registered engineer,” 345 knows to be false, willfully failing to file a report or record
317 “licensed engineer,” “registered professional engineer,” or 346 required by state or federal law, willfully impeding or
318 “licensed professional engineer,” “licensed structural 347 obstructing such filing, or inducing another person to impede or
319 engineer,” “professional structural engineer,” “registered 348 obstruct such filing. Such reports or records include only those
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349 that are signed in the capacity of a licensed engineer or 378 Section 11. This act shall take effect July 1, 2022.
350 licensed professional structural engineer.
351 (g) Engaging in fraud or deceit, negligence, incompetence,
352 or misconduct, in the practice of engineering or professional
353 structural engineering.
354 (4) The management corporation shall reissue the license of
355 a disciplined engineer, professional structural engineer, or
356 business upon certification by the board that the disciplined
357 person has complied with all of the terms and conditions set
358 forth in the final order.
359 Section 9. Subsection (1) of section 471.037, Florida
360 Statutes, is amended to read:
361 471.037 Effect of chapter locally.—
362 (1) Nothing contained in this chapter shall be construed to
363 repeal, amend, limit, or otherwise affect any local building
364 code or zoning law or ordinance, now or hereafter enacted, which
365 is more restrictive with respect to the services of licensed
366 engineers or licensed professional structural engineers than the
367 provisions of this chapter.
368 Section 10. Subsection (3) of section 471.0385, Florida
369 Statutes, is amended to read:
370 471.0385 Court action; effect.—If any provision of s.
371 471.038 is held to be unconstitutional or is held to violate the
372 state or federal antitrust laws, the following shall occur:
373 (3) The Executive Office of the Governor, notwithstanding
374 chapter 216, is authorized to reestablish positions, budget
375 authority, and salary rate necessary to carry out the
376 department’s responsibilities related to the regulation of
377 professional engineers and professional structural engineers.
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The Florida Senate
BILL ANALYSIS AND FISCAL IMPACT STATEMENT
(This document is based on the provisions contained in the legislation as of the latest date listed below.)
Prepared By: The Professional Staff of the Committee on Commerce and Tourism
BILL: CS/SB 942
INTRODUCER: Regulated Industries Committee and Senator Baxley
SUBJECT: Fees/Professional Structural Engineer Licensing
DATE: February 7, 2022 REVISED:
ANALYST STAFF DIRECTOR REFERENCE ACTION
1. Kraemer Imhof RI Fav/CS
2. Renner McKay CM Favorable
3. AP
Please see Section IX. for Additional Information:
COMMITTEE SUBSTITUTE - Technical Changes
I. Summary:
CS/SB 942 authorizes the Board of Professional Engineers (board) to establish fees for licensing
of professional structural engineers.
SB 940, relating to professional structural engineers, is a linked bill that requires the board to
determine whether applicants seeking to practice professional structural engineering are licensed
or qualify for licensure as an engineer, have at least four years of active professional structural
engineering experience under the supervision of a licensed professional engineer, have passed
certain professional examinations, and meet other administrative requirements. The linked bill
also addresses other issues related to professional structural engineers.
See Section V, Fiscal Impact Statement.
The bill is effective on the same date that SB 940 or similar legislation takes effect, if such
legislation is adopted in the same legislative session or any extension and becomes a law.
BILL: CS/SB 942 Page 2
II. Present Situation:
Linked Bill SB 940
This bill is linked to SB 940, relating to professional structural engineers, which amends
s. 471.015(3), F.S. Under the linked bill, the board is authorized to certify persons as qualified to
practice professional structural engineering if they are licensed or qualify for licensure as an
engineer, have at least four years of active professional structural engineering experience under
the supervision of a licensed professional engineer, have passed certain professional
examinations, and meet other administrative requirements.
In addition, the linked bill provides an applicant for licensure as a professional structural
engineer must:
Be licensed as an engineer, or qualify for licensure, under ch. 471, F.S.;
Submit an application in the format prescribed by the board;
Provide satisfactory evidence of good moral character, as defined by the board;
Provide a record of four years of active professional structural engineering experience, as
defined by the board, under the supervision of a licensed professional engineer; and
Have successfully passed the 16-hour National Council of Examiners for Engineering and
Surveying Structural Engineering examination.
Fees
Section 471.011, F.S., authorizes the board to establish fees, by rule, to be paid for applications,
examination, reexamination, licensing, renewal, reactivation, inactive status applications, and
recordmaking and recordkeeping. Qualification of a business organization must not require
payment of a fee.1
Licensure fees may not exceed the following amounts:
Initial license - $125;2
Biennial renewal - $125;3
Temporary registration or certificate - $25 for an individual or $50 for a business firm;4
Licensure by endorsement - $150; 5or
Application for inactive status or for reactivation of an inactive license must - $150.6
III. Effect of Proposed Changes:
Section 1 amends s. 471.011, F.S., to provide that fees for license applications, temporary
licenses, license renewals, inactive licenses, examinations, and records are also applicable to the
regulation of professional structural engineers.
1
Section 471.011(4), F.S.
2
Section 471.011(3), F.S.
3
Section 471.011(5), F.S.
4
Section 471.011(6), F.S.
5
Section 471.011(7), F.S.
6
Section 471.011(8), F.S.
BILL: CS/SB 942 Page 3
Section 2 amends subsection s. 471.015(3), F.S., as amended in linked bill SB 940, to require
payment by applicants seeking licensure to practice professional structural engineering, of a fee
to be established by the board.
Section 3 provides the bill takes effect on the same date that SB 940 or similar legislation takes
effect, if such legislation is adopted in the same legislative session or any extension and becomes
a law.
IV. Constitutional Issues:
A. Municipality/County Mandates Restrictions:
None.
B. Public Records/Open Meetings Issues:
None.
C. Trust Funds Restrictions:
None.
D. State Tax or Fee Increases:
Section 19, Art. VII of the State Constitution limits the authority of the legislature to
enact legislation that imposes or raises a state tax or fee by requiring such legislation to
be approved by a 2/3 vote of each chamber of the legislature. Such state tax or fee
imposed, authorized, or raised must be contained in a separate bill that contains no other
subject.
For purposes of this limitation, the term “fee” is defined, in pertinent part, to mean any
charge or payment required by law, including any fee for service, fee or cost for licenses,
and charge for service.
The bill authorizes board to adopt, by rule, fees for applications, examination,
reexamination, licensing and renewal, inactive status application and reactivation of
inactive licenses, and recordmaking and recordkeeping, as well as a delinquency, and for
a temporary registration or certificate to practice professional structural engineering.
Because the board does not have the authority for fees for professional structural
engineers or professional structural engineering under current law, the provisions of
Section 19, Art. VII of the State Constitution appear to apply, requiring this legislation to
be approved by a 2/3 vote of each house of the legislature.
E. Other Constitutional Issues:
None.
BILL: CS/SB 942 Page 4
V. Fiscal Impact Statement:
A. Tax/Fee Issues:
The bill requires the board to establish a fee for licensure as a professional structural
engineer, as authorized in s. 471.011, F.S.
B. Private Sector Impact:
Beginning March 1, 2024, persons who are licensed engineers in Florida and those who
perform work that comes within the definition in SB 940 for “professional structural
engineering” (i.e., work that includes structural analysis and design of structural
components or systems for threshold buildings) will be required to obtain additional
licensing as a professional structural engineer to perform such work and pay the fee for
such licensing established by the board.
C. Government Sector Impact:
Unlike most Department of Business and Professional Regulation (DBPR) professions,
the administrative, investigative, and prosecutorial services for the board are not provided
by the DBPR. The DBPR contracts with the Florida Engineers Management Corporation
(FEMC), a nonprofit corporation, to provide such services.7
The creation of an additional licensing and regulatory structure for professional structural
engineers may result in a fiscal impact to the DBPR or the FEMC. To date, no analysis
by the DBPR or the FEMC of the impact of the bill on their respective operations,
revenue, and expenditures has been provided.
VI. Technical Deficiencies:
None.
VII. Related Issues:
None.
VIII. Statutes Affected:
This bill substantially amends the following sections of the Florida Statutes: 471.011 and
471.015.
7
The FEMC is a public-private nonprofit association that has contracted with the DBPR to handle administrative,
investigative, and prosecutorial services for the Board of Professional Engineers See s. 471.038, F.S., for the duties and
authority of the FEMC.
BILL: CS/SB 942 Page 5
IX. Additional Information:
A. Committee Substitute – Statement of Changes:
(Summarizing differences between the Committee Substitute and the prior version of the bill.)
CS by Regulated Industries Committee on January 25, 2022:
The CS inserts the bill number for the linked bill, SB 940, Professional Structural
Engineers, into the bill.
B. Amendments:
None.
This Senate Bill Analysis does not reflect the intent or official position of the bill’s introducer or the Florida Senate.
Florida Senate - 2022 CS for SB 942 Florida Senate - 2022 CS for SB 942
By the Committee on Regulated Industries; and Senator Baxley
580-02291-22 2022942c1 580-02291-22 2022942c1
1 A bill to be entitled 30 471.015, Florida Statutes, as amended by SB 940 or similar
2 An act relating to fees; amending s. 471.011, F.S.; 31 legislation, is amended to read:
3 authorizing the Board of Professional Engineers to 32 471.015 Licensure.—
4 establish fees relating to professional structural 33 (3)(a) The management corporation shall issue a
5 engineer licensing; amending s. 471.015, F.S.; 34 professional structural engineer license to any applicant whom
6 requiring applicants to pay a specified fee to be 35 the board certifies as qualified to practice professional
7 eligible to receive a professional structural engineer 36 structural engineering and who meets all of the following
8 license; providing a contingent effective date. 37 requirements:
9 38 1. Is licensed under this chapter as an engineer or is
10 Be It Enacted by the Legislature of the State of Florida: 39 qualified for licensure as an engineer.
11 40 2. Submits an application in the format prescribed by the
12 Section 1. Subsections (1) and (6) of section 471.011, 41 board.
13 Florida Statutes, are amended to read: 42 3. Provides satisfactory evidence of good moral character,
14 471.011 Fees.— 43 as defined by the board.
15 (1) The board by rule may establish fees to be paid for 44 4. Provides a record of 4 years of active structural
16 applications, examination, reexamination, licensing and renewal, 45 engineering experience, as defined by the board, under the
17 inactive status application and reactivation of inactive 46 supervision of a licensed professional engineer.
18 licenses, and recordmaking and recordkeeping. The board may also 47 5. Has successfully passed the 16-hour National Council of
19 establish by rule a delinquency fee. The board shall establish 48 Examiners for Engineering and Surveying Structural Engineering
20 fees that are adequate to ensure the continued operation of the 49 examination.
21 board. Fees shall be based on department estimates of the 50 6. Pays a fee established by the board under s. 471.011.
22 revenue required to implement this chapter and the provisions of 51 Section 3. This act shall take effect on the same date that
23 law with respect to the regulation of engineers and professional 52 SB 940 or similar legislation takes effect, if such legislation
24 structural engineers. 53 is adopted in the same legislative session or an extension
25 (6) The fee for a temporary registration or certificate to 54 thereof and becomes a law.
26 practice engineering or professional structural engineering
27 shall not exceed $25 for an individual or $50 for a business
28 firm.
29 Section 2. Paragraph (a) of subsection (3) of section
Page 1 of 2 Page 2 of 2
CODING: Words stricken are deletions; words underlined are additions. CODING: Words stricken are deletions; words underlined are additions.
The Florida Senate
Committee Agenda Request
To: Senator Ed Hooper, Chair
Committee on Commerce and Tourism
Subject: Committee Agenda Request
Date: February 2, 2022
I respectfully request that Senate Bill #1018, relating to Private Investigative and Security
Services, be placed on the:
committee agenda at your earliest possible convenience.
next committee agenda.
Senator Danny Burgess
Florida Senate, District 20
File signed original with committee office S-020 (03/2004)
January 24, 2022
Agency Affected: Dept. of Agriculture and Consumer Services Telephone: 850-617-7000
Agency Contact: Carlos Nathan, Legislative Affairs Director Telephone: 850-617-7700
Senate Bill Number: 1018 Senate Bill Sponsor: Senator Burgess
Bill Title: Private Investigative and Security Services
Effective Date: July 1, 2022
Similar Bill(s): Yes No
Similar Bill(s):
Identical Bill: Yes No
Identical Bill: HB 1509 by Byrd
1. SUMMARY
The bill amends section 493.6115:
(2)(b)1 - Allows a Class “C” licensee who does not have a Class “G” license to bear a
firearm if the licensee has a license to carry concealed firearms pursuant to s.
790.06.
(2)(b)2 - Allows a private investigator, private investigator intern, security officer, or
manager to carry a concealed weapon while on duty without either a Class “G”
license or a concealed weapon or firearm license if the investigator/intern/security
officer/manager is a retired law enforcement officer with 10 years’ experience and
maintains his/her annual firearms proficiency pursuant to the federal Law
Enforcement Officer Safety Act (LEOSA).
(2)(b)3 - Allows a private investigator, private investigator intern, security officer, or
manager to carry a concealed weapon while on duty without either a class “G”
license or a concealed weapon or firearm license if the investigator/intern/security
officer/manager is an active law enforcement officer who maintains his/her annual
firearms proficiency required by his/her agency.
(4)(a)1 - Allows a private investigator or private investigator intern who is 21 years of
age or older to carry a concealed firearm while on duty if he/she has been issued a
Class “G” license OR has a license to carry concealed firearms OR who meets the
requirements of subparagraph (2)(b)2.
(4)(a)2 - Allows a security officer who is 21 years of age or older to carry a concealed
firearm while on duty under conditions specified in s. 493.6305(3) and (4) if he/she
has been issued a Class “G” license OR who meets the requirements of
subparagraph (2)(b)2
Due to the bill’s provisions of allowing a private investigator (“C” licensee) or private
investigator intern (“CC” licensee) to substitute a concealed weapon (CW) license for
a statewide firearms license (“G” license), a net revenue increase of $47K is
estimated for the first year of implementation, followed by a $115K revenue reduction
for subsequent years. Expenditures are estimated to decrease by about $7K for all
years.
2. PRESENT SITUATION
Currently, a Class “C” licensed private investigator, a Class “CC” private investigator intern,
and Class “D” security officer must possess a valid Class “G” statewide firearm license to
perform investigative duties while armed.
Under 493.6115(17), F.S., an individual is not exempt from the requirement of holding a
Class “G” license simply by holding a concealed weapon or concealed firearm license
issued pursuant to 790.06. Additionally, there is no provision in chapter 493, F.S., that
prohibits law enforcement and correctional officers from holding individual or agency
licenses.
3. EFFECT OF PROPOSED CHANGES
The bill would alter the professional and training standards for some licensees in the private
investigative and security services fields.
This bill would effectively eliminate professional training requirements for armed
(Class “G”) security officers and private investigators who would be exempted by
virtue of holding a concealed weapon license. Initial Class “G” licensure requires
successful completion of a rigorous 28-hour course focused on professional
requirements, in addition to firearms training on the specific type and caliber of
firearm to be carried on duty.
o Current training for armed (Class “G”) security officers includes the legal
authority for carrying a firearm on duty, the limitations of a security officer’s
ability to carry a firearm and use deadly force, and crimes that may serve as
justification for the use of deadly force. Applicants also learn about safe
weapon handling, the identification of weapon parts and ammunition, the
cleaning and maintenance of weapons, and basic shooting principles; and
must obtain a qualifying score with a handgun on the shooting range.
Additionally, a Class “G” license holder must receive four hours of requalifying
firearms training annually where licensees learn updates in applicable laws, review
appropriate use of the weapon, and demonstrate proficiency again with a scored live
fire exercise.
Concealed weapon licensure requires only a one-time completion of a firearm safety
or education course offered by one of several agencies and organizations. Any
course includes a minimal demonstration of firearm competence by live fire in the
physical presence of an instructor. There are exemptions for active-duty and former
military personnel.
Class “G” license training is more professional, expansive, and rigorous whereas
concealed carry training only requires a showing of competence.
o Again, the licensee must fire multiple courses of rounds to demonstrate
consistent proficiency. Failure to complete the required annual training will
result in either license suspension or the denial of the application to renew
the license.
o A concealed weapon licensee does not have to complete any annual training
to renew his/her license, and the initial training is not required to cover the
specific subjects of a Class “G” course.
Class “G” license requires training on the specific type and caliber of firearms to be
carried on duty, whereas a concealed weapon license does not.
With this bill, those exempted from the requirement of holding a Class “G” license by
virtue of holding a concealed carry permit would be able to avoid any annual
requalification training.
There could be an increase in conflict-of-interest issues with more active law enforcement
officers that carry concealed weapon when working as private investigator or security officer.
Although there is currently no provision in chapter 493, F.S., that prohibits law enforcement
and correctional officers from holding individual or agency licenses, the performance of such
duties could present prohibited conflicts of interest according to the Florida Code of Ethics
as set forth in section 112.313(7)(a), F.S.
The Florida Commission on Ethics has held that such arrangements may create a
continuing or frequently recurring conflict between a law enforcement officer’s private
interests and the performance of his public duties.
Class “G” licenses and applications would likely decline due to the bill’s option of substituting
the concealed carry license for both their professional and personal life.
Due to the bill’s provisions of allowing a private investigator (“C” licensee) or private
investigator intern (“CC” licensee) to substitute a concealed weapon (CW) license for a
statewide firearms license (“G” license), a net revenue increase of $47K is estimated for the
first year of enactment, followed by a $115K revenue reduction for subsequent years. The
smaller net revenue increase in year one reflects a $162K revenue increase from C/CC
licensees with a G license allowing their G license to expire and replacing with a seven (7)
year CW license, netted against the annual $115K revenue reduction resulting from C/CC
licensees no longer renewing their G licenses. Expenditures are estimated to decrease by
about $7K for all years due to the reduction in fingerprint retention fees paid and license
application forms no longer printer.
In summary, the enactment of this bill would reduce enforcement jurisdiction by effectively
eliminating the traditional Class “G” training and licensure requirements for those relying
instead on the concealed weapon license for concealed weapon carrying on duty; and
potentially increase conflict-of-interest issues among active law enforcement officers who
are private investigators.
4. FISCAL IMPACT ON FDACS
(FY 22-23) (FY 23-24) (FY 24-25)
Amount/ Amount/ Amount/
FTE FTE FTE
A. Revenues
Recurring
C/CCs Not Renewing ($109,424) ($109,424) ($109,424)
G
Fingerprint Retention
Revenue-FDLE (5,862) (5,862) (5,862)
C/CCs w G
Replacing G w CW 107,470
(License Fee)
C/CCs w G
Replacing G w CW
(Fingerprints)
FDACS
26,868
FDLE
27,356
FBI
NA
Non-Recurring
TOTAL REVENUES $46,408 ($115,286) ($115,286)
B. Expenditures
Recurring
Fingerprint Retention ($5,862) ($5,862) ($5,862)
Cost Forgone-FDLE
(1,031) (1,031) (1,031)
Forms Costs
Non-Recurring
TOTAL EXPENDITURES ($6,893) ($6,893) ($6,893)
C. NET TOTAL $53,301 ($108,393 ($108,393)
COMMENTS:
This analysis reflects a scenario of the current population of 1,954 private
investigators and private investigator interns holding Class “G” licenses allowing
their licenses to lapse (not renew). These non-renewals would result in an
estimated $109K average annual revenue loss over each subsequent two-year
license period. Fingerprint retention revenue losses associated with these non-
renewals are estimated to average almost $6K annually. These projected annual
revenue reductions equaling $115K would be more than offset by almost $162K
of additional estimated revenue collected in the first year of enactment, from
these same C/CC licensees with G licenses, purchasing CW licenses to replace
the more expensive G statewide firearm license. Note that CW licenses obtained
by C/CC licensees to replace the G license could be obtained over the two-year
period of a G license, but are reflected in year one above, for simplicity
purposes.
Annual expenditure reductions of $7K are estimated based on foregone
expenditures paid to FDLE of about $6K for G license fingerprint retention and
$1K for forms costs no longer incurred for G license applications.
5. IS THERE AN ESTIMATED FISCAL IMPACT ON LOCAL GOVERNMENT(s)?
No.
6. IS THERE AN ESTIMATED FISCAL IMPACT ON THE PRIVATE SECTOR?
Class “K” firearms instructors who provide the qualifying training for the statewide firearm
license would likely experience a reduction in demand for their services from private
investigator and intern applicants. Class “K” firearms instructors would also see a reduction
in demand for their services for the annual training required for a renewing Class G licensee.
It is difficult to quantify exactly what this impact might be.
7. ARE THERE ESTIMATED TAXES, FEES, OR FINES ASSOCIATED WITH THE
PROPOSED BILL? (If yes, please explain the impact in A and/or B below)
A. Does the proposed bill create new or increase existing taxes, fees, or fines? If so,
please explain.
No.
B. Does the proposed bill repeal or decrease existing taxes, fees, or fines? If so,
please explain.
As explained in section 4 above, this bill would allow armed private investigators and
private investigator interns to substitute a concealed weapon license for a Class “G”
statewide firearms license. This replacement of a Class “G” license with a concealed
weapon license would save armed private investigators and private investigator interns
$112.00 every two years by not renewing the required G license. Replacement of the
two-year G license with a seven-year concealed weapon license costing $97.00 ($55.00
for the license and $42.00 for the fingerprint background check) would equate to a
$294.98 cost savings over the seven-year term of a concealed weapon license. (Two-
year G license costing $112.00 divided by 2 years equals $56.00 annual savings per
year, versus seven-year concealed weapon license costing $97.00 divided by 7 years
equals an average annual cost of $13.86 per year. The annual cost difference of $42.14
($56.00 - $13.86 = $42.14) multiplied by 7 years equals $294.98.
Additional savings in training costs no longer incurred by Class “G” licensees opting to
replace the G license with a concealed weapon license would be realized in the above
scenario, based on required Class G firearms training that would no longer be incurred.
Four hours of annual firearms training are required to renew a G license, or 28 hours of
training from a Class “K” firearms instructor over the seven-year term of a concealed
weapon license would no longer be incurred.
C. DOES THE BILL DIRECT OR ALLOW THE DEPARTMENT TO DEVELOP, ADOPT,
OR ELIMINATE RULES, REGULATIONS, POLICIES, OR PROCEDURES?
a. Yes: No:
b. If yes please explain:
8. DOES THE PROPOSED BILL REQUIRE THE DEPARTMENT TO PARTICIPATE IN OR
PRODUCE ANY REPORTS OR STUDIES?
a. Yes: No:
b. If yes please explain:
9. ARE THERE ANY APPOINTMENTS, CREATION OF, OR CHANGES TO ANY BOARDS,
TASK FORCES, COUNCILS, COMMISSIONS, ETC. THAT WILL IMPACT THE
DEPARTMENT?
a. Yes: No:
b. If yes please explain:
LEGAL ISSUES
10. Does the proposed bill conflict with existing federal law or regulations that impact the
department? If so, what laws and/or regulations?
No.
11. Does the proposed bill raise significant constitutional concerns under the U.S. or
Florida Constitutions (e.g. separation of powers, access to the courts, equal
protection, free speech, establishment clause, impairment of contracts) that impacts
the department?
No.
12. Is the proposed bill likely to generate litigation for the department and, if so, from
what interest groups or parties?
No.
COMMENTS:
The Florida Senate
BILL ANALYSIS AND FISCAL IMPACT STATEMENT
(This document is based on the provisions contained in the legislation as of the latest date listed below.)
Prepared By: The Professional Staff of the Committee on Commerce and Tourism
BILL: CS/SB 1018
INTRODUCER: Commerce and Tourism Committee and Senator Burgess
SUBJECT: Private Investigative and Security Services
DATE: February 8, 2022 REVISED:
ANALYST STAFF DIRECTOR REFERENCE ACTION
1. Harmsen McKay CM Fav/CS
2. JU
3. RC
Please see Section IX. for Additional Information:
COMMITTEE SUBSTITUTE - Substantial Changes
I. Summary:
Currently, licensees under ch. 493, F.S., cannot carry a firearm during the course of their
licensed activities unless they have a supplemental Class “G” license. CS/SB 1018 allows Class
“C” and “CC” licensees to bear a firearm during the course of their licensed duties if they qualify
for a newly created Class “CG” license by meeting one of the following qualifications:
Have an active Florida concealed weapon or firearm license issued pursuant to s. 790.06,
F.S.;
Be a retired law enforcement officer who separated from employment in good standing after
at least 10 years of service, and who maintains an annual firearms proficiency qualification
pursuant to the Federal law Enforcement Officers Safety Act; or
Be an active law enforcement officer who maintains an annual firearms proficiency
qualification as required by his or her employing law enforcement agency.
This provision does not alter the firearm carry limitations found in s. 790.06, F.S., or the Federal
Law Enforcement Officers Safety Act. Class “CG” licensees will be required to submit to a
criminal background check as part of their application with the Department of Agriculture and
Consumer Services, and maintain their underlying qualification during their Class “CG”
licensure.
Class “CG” licensees are subject to the following Departmental regulations during the course of
their licensed activities:
A limit of 2 guns that the licensee may carry during the course of his or her licensed activity;
BILL: CS/SB 1018 Page 2
A limit on the types of guns and ammunition that he or she may use; and
Required incident reporting to the Department after a gun is discharged by a licensee during
the course of his or her licensed activity; and
The bill takes effect on July 1, 2022.
II. Present Situation:
Chapter 493 Licensees, Generally
The Division of Licensing within the Florida Department of Agriculture and Consumer Services
(Department) is responsible for investigating and issuing licenses to conduct private investigative
services pursuant to ch. 493, F.S. As of January 31, 2022, there are 6,983 Class “C” private
investigator licensees and 1,327 Class “CC” private investigator intern licensees.1 A ch. 493,
F.S., licensee must renew his or her individual license every 2 years.
A private investigator is an individual who investigates a person for the purpose of obtaining
information with reference to the following specific matters:2
Crimes or wrongdoings against the United States or any state or territory, when operating
under express authority of a governmental official;
The identity, habits, conduct, movement, and other characteristics of any society, person, or
group of persons;
The credibility of a witness or other person;
The whereabouts of a missing person, owner of unclaimed or escheated property, or heirs to
an estate;
The location or recovery of lost or stolen property;
The causes and origin of fires, libel, slander, losses, accidents, damage, or injuries to real or
personal property; or
Securing evidence to be used before an investigating committee or board, or in a civil or
criminal trial.
A Class “CC” private investigator intern operates at the direction and under the control of a
sponsoring Class “C” private investigator licensee.3
Class “G” Statewide Firearm License
A Class “G” license is a supplemental license that permits specific licensees to carry a firearm
during the course of their licensed, employment-related activity. A Class “G” license is available
only to individuals who currently hold one of the following licenses: private investigator (Class
1
Florida Department of Agriculture and Consumer Services (FDACS) , Division of Licensing, Number of Licensees by Type
(Jan. 31, 2021), https://www.fdacs.gov/content/download/82618/file/Number_of_Licensees_By_Type.pdf (last visited Feb.
4, 2022).
2
Section 493.6101(16), F.S. See also, FDACS, Private Investigation (Dec. 2017),
https://licensing.freshfromflorida.com/forms/P-01721.pdf (last visited Feb. 4, 2022).
3
Section 493.6116, F.S. See also, FDACS, Class “CC” Private Investigator Intern License Requirements,
https://www.fdacs.gov/Business-Services/Private-Investigation-Licenses/Class-CC-Private-Investigator-Intern-License-
Requirements (last visited Feb. 8, 2022).
BILL: CS/SB 1018 Page 3
“C”), private investigator intern (Class “CC”), security officer (Class “D”), private investigative
or security agency manager (Class “M”), private investigative agency manager (Class “MA”), or
security agency manager (Class “MB”).4 The “Class G” license must be renewed every 2 years.
Application and Training Requirements for Class “G” Licensees
An initial applicant for a Class “G” license must complete firearm training, which must include
at least 28 hours of range and classroom training (range training must be limited to no more than
8 hours) that is administered by a Class “K” licensee.5 An applicant who was discharged within
the last 12 months from service as a military officer, and has completed specific military courses
is deemed to have completed a substantially similar training, and is exempt from the 28 hours of
range and classroom training required for a Class “G” initial license.
Class “G” licensees must annually complete 4 hours of firearms requalification training for each
caliber of firearm that he or she carries in the course of his or her duties.6
A Class “G” licensee is subject to a biennial statewide firearm license fee of $112, but there is no
application fee.7 The applicant for a Class “G” license must submit a fingerprint processing ($42)
and retention ($10.75) fee, however—this fee is waived if the applicant has otherwise paid these
fees for any other license under ch. 493, F.S., within the last 6 months.8
Regulation of Class “G” Licensees
A Class “G” licensee may only carry two firearms when performing his or her licensed duties.
Unless the Department grants specific approval otherwise, the types of weapons a Class “G”
licensee may use are limited to the following: a .38 caliber revolver; a .380 caliber or .9 mm
semiautomatic pistol; a .357 caliber revolver used with .38 caliber ammunition; a .40 caliber
handgun; or a .45 ACP handgun.9
If a Class “G” licensee discharges his or her firearm during the course of her or his duties, the
licensee must file an incident report with the Department.10
Class “G” licensees are subject to penalty, ranging from a fine to the suspension or revocation of
their license, for the following violations of administrative rule:11
Conviction of, or adjudication of guilt withheld, on a crime directly related to the business
for which the license is held;
Improper exhibition of a firearm;
Careless or improper handling of a firearm resulting in a discharge;
4
Section 493.6115(2), F.S.
5
Section 493.6105(5), F.S. See also Fla. Admin. Code R. 5N-1.132(1)(a).
6
Section 493.6113(3)(b), F.S.
7
Fla. Admin. Code R. 5N-1.116(2)(a)6. and (2)(c). See also, FDACS, Chapter 493, F.S., Renewal License Fee Schedule,
https://www.fdacs.gov/content/download/73502/file/FS493_Renewal_License_Fees.pdf (last visited Feb. 4, 2022).
8
Fla. Admin. Code R. 5N-1.116(3)(a).
9
Section 493.6115(6), F.S. See also, FDACS, Approved Firearms for Class “G” License Holders,
https://www.fdacs.gov/Business-Services/Private-Investigation-Licenses/Approved-Firearms-for-Class-G-License-Holders
(last visited Feb. 4, 2022).
10
Section 493.6115(9), F.S.
11
Fla. Admin. Code R. 5N-1.113. See also, s. 493.6118(1), F.S.
BILL: CS/SB 1018 Page 4
Firing an unjustifiable warning shot while on duty;
Impersonating a law enforcement officer or government employee; and
Commission of an act of violence not in the lawful protection of one’s self or another.
Concealed Weapon and Firearm Licenses
Florida is a “shall issue”12 state for applications for concealed weapon and firearm licenses.13
The Department must review and either issue or deny a license within 90 days of receiving an
application.14 As of December 31, 2021, there were 2,445,471 concealed weapon or firearm
licensees in Florida.15
The Department must deny issuance of a license, which expires after 7 years,16 if an applicant:
Is not a citizen of the United States, permanent resident alien, or consular security official of
a foreign government;
Is not 21 years of age or older;
Suffers from a physical infirmity which prevents the safe handling of a weapon or firearm;
Has been convicted of a felony;
Has been found guilty of a controlled substances crime within the previous 3 years;
Has been committed for the abuse of a controlled substance;17
Suffers from chronic and habitual use of alcohol or other substances to the extent that their
normal faculties are impaired;18
Does not intend to carry a concealed weapon or firearm for lawful self-defense;
Fails to demonstrate competency with a firearm;19
Has been adjudicated as an incapacitated person;
12
Generally, states issue a permit, or license, to carry a concealed weapon such as a firearm on either a “shall issue,” or “may
issue” basis. The key difference is that shall issue states must issue the permit or license if the applicant meets the
requirements; whereas, may issue states have much more discretion to deny an application even if the applicant meets the
requirements under the law. New York may deny a license, for example, if the applicant fails to demonstrate “proper cause”
or lacks “good moral character” as determined by a judge reviewing the application. N.Y. Penal Law s. 400.00.
13
Section 790.06(2), F.S.
14
Section 790.06(6)(c), F.S.
15
FDACS, Division of Licensing, Number of Licensees by Type (Dec. 31, 2021),
https://www.fdacs.gov/content/download/82618/file/Number_of_Licensees_By_Type.pdf (last visited Feb. 4, 2022).
16
Section 790.06(1), F.S.
17
An applicant granted relief of firearms disabilities pursuant to s. 790.065(2)(a)4.d., F.S., after having been adjudicated
mentally defective or committed to a mental institution is deemed not to be committed for the abuse of a controlled
substance.
18
The law presumes that a person chronically and habitually uses alcoholic beverages or other substances to the point of
impairment if the applicant has been convicted of using a firearm while under the influence of alcoholic beverages, chemical
substances, or controlled substances or has been deemed a habitual offender of disorderly intoxication under s. 856.011(3),
F.S., or has had two or more convictions of driving under the influence within a 3-year period preceding the date which the
application is submitted. See, s. 790.06(2)(f), F.S.
19
There are several methods of demonstrating competency with a firearm, including completion of a hunter education or
safety course approved by the Fish and Wildlife Conservation Commission, completion of any law enforcement firearms
safety or training course, or completion of firearms training safety courses using instructors certified by the National Rifle
Association, Criminal Justice Standards and Training Commission, or the Department of Agriculture and Consumer Services.
BILL: CS/SB 1018 Page 5
Has been committed to a mental institution;20
Has had an adjudication of guilt withheld or a suspended sentence on a felony unless 3 years
have elapsed since probation or any other conditions set by the court have been fulfilled, or
the record has been expunged;
Has had an adjudication of guilt withheld or an imposition of sentence suspended on a
misdemeanor crime of domestic violence, unless 3 years have elapsed since probation or any
other conditions set by the court have been fulfilled, or the record has been expunged;
Has been issued an injunction that is currently in force and effect that restrains that applicant
from committing acts of domestic violence or acts of repeat violence; or
Is prohibited from purchasing or possessing a firearm by any other provision of Florida or
federal law.21
The Department must suspend a license or the processing of an application for a license if the
licensee or applicant is arrested or formally charged with a crime that would disqualify such
person from having a license until final disposition of the case.22 The Department is also required
to suspend a license or the processing of an application for a license if the licensee or applicant is
issued an injunction that restrains the licensee or applicant from committing acts of domestic
violence or acts of repeat violence.23
Once obtained, the licensee must carry the license with valid identification at all times when the
licensee is in actual possession of a concealed weapon or firearm.24 According to
s. 790.06(12)(a), F.S, the license, however, “does not authorize any person to carry a concealed
weapon or firearm into:”
Any place of nuisance;25
Any police, sheriff, or highway patrol station;
Any detention facility, prison, or jail;
Any courthouse;
Any courtroom;26
Any polling place;
Any meeting of the governing body of a county, public school district, municipality, or
special district;
Any meeting of the Legislature or a committee thereof;
Any school, college, or professional athletic event not related to firearms;
Any elementary or secondary school facility or administration building;
Any career center;
20
An applicant who has been granted relief from firearms disabilities pursuant to s. 790.065(2)(a)4.d., F.S., after having been
adjudicated mentally defective or committed to a mental institution is deemed not to have been committed in a mental
institution.
21
Section 790.06(2)(n), F.S.
22
Section 790.06(3), F.S.
23
Id.
24
Section 790.06(1), F.S.
25
See s. 823.05, F.S., for an extensive description of places of nuisance.
26
However, judges may carry a concealed weapon and allow others to do so within their courtroom. Section 790.06(12)(a)5.,
F.S.
BILL: CS/SB 1018 Page 6
Any portion of an establishment licensed to dispense alcoholic beverages for consumption on
the premises, which portion of the establishment is primarily devoted to such purpose;
Any college or university facility;27
The inside of the passenger terminal and sterile area of any airport; or
Any place where the carrying of firearms is prohibited by federal law.28
Law Enforcement Officers Safety Act
The federal Law Enforcement Officers Safety Act (LEOSA) allows qualified law enforcement
officers and qualified retired law enforcement officers to carry a concealed firearm in any
jurisdiction in the United States, regardless of local laws to the contrary, with certain
exceptions.29 LEOSA does not supersede a private individual’s right to restrict possession of a
concealed firearm on his or her property, nor does it override a state or local government’s
restriction on the possession of firearms on state or local government property.
A qualified law enforcement officer is a current employee of a governmental agency who:30
Is authorized to engage in or supervise the prevention, detection, investigation, or
prosecution of the incarceration of any person for a violation of law who also has statutory
powers of arrest or apprehension;
Is authorized by his or her employing agency to carry a firearm;
Is not subject to any disciplinary action by his or her employing agency;
Meets the qualifying standards established by his or her employing agency to use a firearm;
Is not under the influence of alcohol or other intoxicating substances; and
Is not prohibited by Federal law from receiving a firearm.
A qualified retired law enforcement officer is an individual who:31
Separated from service in good standing from the public agency that employed him or her as
a law enforcement officer;
Was authorized to engage in or supervise the prevention, detection, investigation, or
prosecution of the incarceration of any person for a violation of law and also had statutory
powers of arrest or apprehension;
Served for an aggregate 10 years or more as a law enforcement officer prior to his or her
separation, or separated after an applicable probationary period of service due to a service-
connected disability;
Has met the firearms training standards applicable to active law enforcement officers within
the last 12 months;
27
However, a “student, employee, or faculty member” may carry a stun gun or nonlethal electric weapon designed for
defensive purposes as long as the weapon does not fire a dart or projectile.
28
Section 790.06(12)(a)1.-15., F.S.
29
18 U.S.C. §926 and 926C. See also, Florida Department of Law Enforcement, Thomas Kirwin, H.R. 218 (The Law
Enforcement Officers Safety Act) and S. 1132 (The Law Enforcement Safety Act Improvements Act of 2010) and 2013
Amendment By National Defense Authorization Act (NDAA) for Fiscal Year 2013, Public Law 112-239 (H.R. 4310), §1089
Summary and Overview (Feb. 2015), https://www.fdle.state.fl.us/OGC/Documents/Legal-Bulletins/2015-1-
HR218Bulletin.aspx (last visited Feb. 4, 2022).
30
18 U.S.C. §926(c).
31
18 U.S.C. §926C(c).
BILL: CS/SB 1018 Page 7
Has not been found by a medical professional to be unqualified for reasons relating to mental
health;
Is not under the influence of alcohol or other intoxicating substances; and
Is not prohibited by Federal law from receiving a firearm.
Florida’s Criminal Justice Standards and Training Commission has approved a statewide
minimum firearms proficiency qualification course that serves as the minimum qualifications
required to carry a firearm under LEOSA (although individual agencies can enhance their
standards above this minimum requirement at their discretion).32 The qualifications require that a
candidate achieve at least 32 out of 40 rounds in a range test.33
III. Effect of Proposed Changes:
SB 1018 creates a Class “CG” license to allow individuals who hold either a Class “C” or a Class
“CC” license, and who otherwise qualify for the Class “CG” license, to carry a firearm during
the course of their licensed duties.
A Class “CG” applicant must qualify for the license by maintaining an active:
Florida concealed weapon or firearm license issued pursuant to s. 790.06, F.S.;
Federal law Enforcement Officers Safety Act annual firearms proficiency qualification, if
the applicant is a retired law enforcement officer who separated from employment in good
standing after at least 10 years of service; or
Annual firearms proficiency qualification required by his or her employing law enforcement
agency.
A Class “CG” licensee is not required to complete additional qualification or renewal training to
qualify for her or his license. However, the Class “CG” license remains in effect only during the
period the applicant is employed as a Class “C” or Class “CC” licensee and during which he or
she keeps the underlying qualification for the Class “CG” license active.
Similar to Class “G” licensees, a Class “CG” licensee is subject to Departmental regulations,
including:
A limit on the number and type of firearms the licensee may carry during the course of her or
his licensed duties;
Required reporting if the licensee discharges a firearm during her or his licensed duties; and
Administrative suspension or revocation of the license if the licensee is arrested for, or
charged with specific firearms-related crimes.
This provision does not alter the firearm carry limitations found in s. 790.06, F.S., or the Federal
Law Enforcement Officers Safety Act. Class “CG” licensees will be required to submit an
application to the Department of Agriculture and Consumer Services, undergo a criminal
background check, and maintain their underlying qualification during their licensure.
32
Florida Department of Law Enforcement, Thomas Kirwin, supra note 31 at 7.
33
See, Florida Department of Law Enforcement, Law Enforcement officer Firearms Qualifications Standard, Form CJSTC
86A, http://www.fdle.state.fl.us/CJSTC/Documents/Rules-Forms/Table-1-Forms/PDFs/CJSTC-86A.aspx (last visited Feb. 4,
2022). See also, Fla. Admin. Code R. 11B-27.00212.
BILL: CS/SB 1018 Page 8
The bill takes effect on July 1, 2022.
IV. Constitutional Issues:
A. Municipality/County Mandates Restrictions:
None.
B. Public Records/Open Meetings Issues:
None.
C. Trust Funds Restrictions:
None.
D. State Tax or Fee Increases:
None.
E. Other Constitutional Issues:
None identified.
V. Fiscal Impact Statement:
A. Tax/Fee Issues:
None.
B. Private Sector Impact:
Class “C” and Class “CC” licensees will not be required to complete or pay for initial and
renewal training relating to the Class “G” license in order to carry a firearm during their
licensed duties.
C. Government Sector Impact:
The Department will likely see a decrease in the number of individuals who seek a class
“G” license, and therefore will collect fewer Class “G” license fees.
VI. Technical Deficiencies:
None.
VII. Related Issues:
None.
BILL: CS/SB 1018 Page 9
VIII. Statutes Affected:
This bill substantially amends sections 493.6115 and 493.6305 of the Florida Statutes.
IX. Additional Information:
A. Committee Substitute – Statement of Substantial Changes:
(Summarizing differences between the Committee Substitute and the prior version of the bill.)
CS by Commerce and Tourism on February 7, 2022:
Creates the Class “CG” license, for which applicants qualify if they maintain an
active maintaining an active:
o Florida concealed weapon or firearm license;
o Federal law Enforcement Officers Safety Act annual firearms proficiency
qualification, if the applicant is a retired law enforcement officer who separated
from employment in good standing after at least 10 years of service; or
o Annual firearms proficiency qualification required by his or her employing law
enforcement agency.
Subjects Class “CG” licensees to many of the same regulations as Class “G”
licensees, but does not require Class “CG” licensees to perform initial or renewal
training to qualify for licensure; and
Removes reference to Class “D” Security Officer licensees.
B. Amendments:
None.
This Senate Bill Analysis does not reflect the intent or official position of the bill’s introducer or the Florida Senate.
Florida Senate - 2022 COMMITTEE AMENDMENT
Bill No. SB 1018
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LEGISLATIVE ACTION
Senate . House
Comm: RCS .
02/08/2022 .
.
.
.
The Committee on Commerce and Tourism (Burgess) recommended the
following:
1 Senate Amendment (with title amendment)
2
3 Delete everything after the enacting clause
4 and insert:
5 Section 1. Present subsections (5) through (8) of section
6 493.6105, Florida Statutes, are redesignated as subsections (6)
7 through (9), respectively, a new subsection (5) is added to that
8 section, and subsections (1) and (3) and paragraph (c) of
9 present subsection (5) of that section are amended, to read:
10 493.6105 Initial application for license.—
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11 (1) Each individual, partner, or principal officer in a
12 corporation, shall file with the department a complete
13 application accompanied by an application fee not to exceed $60,
14 except that an applicant for a Class “CG,” Class “D,” or Class
15 “G” license is not required to submit an application fee. An
16 application fee is not required for an applicant who qualifies
17 for the fee waiver in s. 493.6107(6). The application fee is not
18 refundable.
19 (a) The application submitted by any individual, partner,
20 or corporate officer must be approved by the department before
21 the individual, partner, or corporate officer assumes his or her
22 duties.
23 (b) Individuals who invest in the ownership of a licensed
24 agency but do not participate in, direct, or control the
25 operations of the agency are not required to file an
26 application.
27 (3) The application must contain the following information
28 concerning the individual signing the application:
29 (a) Name and any aliases.
30 (b) Age and date of birth.
31 (c) Place of birth.
32 (d) Social security number or alien registration number,
33 whichever is applicable.
34 (e) Current residence address and mailing address.
35 (f) A statement of all criminal convictions, findings of
36 guilt, and pleas of guilty or nolo contendere, regardless of
37 adjudication of guilt. An applicant for a Class “CG,” Class “G,”
38 or Class “K” license who is younger than 24 years of age shall
39 also include a statement regarding any finding of having
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40 committed a delinquent act in any state, territory, or country
41 which would be a felony if committed by an adult and which is
42 punishable by imprisonment for a term exceeding 1 year.
43 (g) One passport-type color photograph taken within the 6
44 months immediately preceding submission of the application.
45 (h) A statement whether he or she has ever been adjudicated
46 incompetent under chapter 744.
47 (i) A statement whether he or she has ever been committed
48 to a mental institution under chapter 394.
49 (j) A full set of fingerprints, a fingerprint processing
50 fee, and a fingerprint retention fee. The fingerprint processing
51 and retention fees shall be established by rule of the
52 department based upon costs determined by state and federal
53 agency charges and department processing costs, which must
54 include the cost of retaining the fingerprints in the statewide
55 automated biometric identification system established in s.
56 943.05(2)(b) and the cost of enrolling the fingerprints in the
57 national retained print arrest notification program as required
58 under s. 493.6108. An applicant who has, within the immediately
59 preceding 6 months, submitted such fingerprints and fees for
60 licensing purposes under this chapter and who still holds a
61 valid license is not required to submit another set of
62 fingerprints or another fingerprint processing fee. An applicant
63 who holds multiple licenses issued under this chapter is
64 required to pay only a single fingerprint retention fee.
65 Partners and corporate officers who do not possess licenses
66 subject to renewal under s. 493.6113 are exempt from the
67 fingerprint retention requirements of this chapter.
68 (k) A personal inquiry waiver that allows the department to
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69 conduct necessary investigations to satisfy the requirements of
70 this chapter.
71 (l) Such further facts as may be required by the department
72 to show that the individual signing the application is of good
73 moral character and qualified by experience and training to
74 satisfy the requirements of this chapter.
75 (5) In addition to the requirements under subsection (3),
76 an applicant for a Class “CG” license must submit proof that she
77 or he:
78 (a) Has an active license to carry a concealed firearm
79 issued pursuant to s. 790.06;
80 (b) Is a retired law enforcement officer who separated from
81 service in good standing; who, before such separation, served as
82 a law enforcement officer for at least 10 years; and who
83 maintains her or his annual firearms proficiency qualification
84 pursuant to the federal Law Enforcement Officers Safety Act; or
85 (c) Is an active law enforcement officer who maintains the
86 annual firearms proficiency qualification required by her or his
87 agency.
88 (6)(5) In addition to the requirements outlined in
89 subsection (3), an applicant for a Class “G” license must
90 satisfy minimum training criteria for firearms established by
91 rule of the department, which training criteria includes, but is
92 not limited to, 28 hours of range and classroom training taught
93 and administered by a Class “K” licensee; however, no more than
94 8 hours of such training shall consist of range training. The
95 department may waive the foregoing firearms training requirement
96 if:
97 (c) The applicant submits a valid firearm certificate among
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98 those specified in paragraph (7)(a) (6)(a).
99 Section 2. Paragraphs (f) and (g) of subsection (1) and
100 subsection (3) of section 493.6106, Florida Statutes, are
101 amended to read:
102 493.6106 License requirements; posting.—
103 (1) Each individual licensed by the department must:
104 (f) Be a citizen or permanent legal resident alien of the
105 United States or have appropriate authorization issued by the
106 United States Citizenship and Immigration Services of the United
107 States Department of Homeland Security.
108 1. An applicant for a Class “C,” Class “CC,” Class “D,”
109 Class “DI,” Class “E,” Class “EE,” Class “M,” Class “MA,” Class
110 “MB,” Class “MR,” or Class “RI” license who is not a United
111 States citizen must submit proof of current employment
112 authorization issued by the United States Citizenship and
113 Immigration Services or proof that she or he is deemed a
114 permanent legal resident alien by the United States Citizenship
115 and Immigration Services.
116 2. An applicant for a Class “CG,” Class “G,” or Class “K”
117 license who is not a United States citizen must submit proof
118 that she or he is deemed a permanent legal resident alien by the
119 United States Citizenship and Immigration Services.
120 3. An applicant for an agency or school license who is not
121 a United States citizen or permanent legal resident alien must
122 submit documentation issued by the United States Citizenship and
123 Immigration Services stating that she or he is lawfully in the
124 United States and is authorized to own and operate the type of
125 agency or school for which she or he is applying. An employment
126 authorization card issued by the United States Citizenship and
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127 Immigration Services is not sufficient documentation.
128 (g) Not be prohibited from purchasing or possessing a
129 firearm by state or federal law if the individual is applying
130 for a Class “CG,” Class “G,” license or a Class “K” license.
131 (3) Each Class “C,” Class “CC,” Class “CG,” Class “D,”
132 Class “DI,” Class “E,” Class “EE,” Class “G,” Class “K,” Class
133 “M,” Class “MA,” Class “MB,” Class “MR,” or Class “RI” licensee
134 shall notify the division in writing within 10 days of a change
135 in her or his residence or mailing address.
136 Section 3. Subsection (4) of section 493.6111, Florida
137 Statutes, is amended to read:
138 493.6111 License; contents; identification card.—
139 (4) Notwithstanding the existence of a valid Florida
140 corporate registration, an agency or school licensee may not
141 conduct activities regulated under this chapter under any
142 fictitious name without prior written authorization from the
143 department to use that name in the conduct of activities
144 regulated under this chapter. The department may not authorize
145 the use of a name that is so similar to that of a public officer
146 or agency, or of that used by another licensee, that the public
147 may be confused or misled thereby. The authorization for the use
148 of a fictitious name must require, as a condition precedent to
149 the use of such name, the filing of a certificate of engaging in
150 business under a fictitious name under s. 865.09. A licensee may
151 not conduct business under more than one name except as
152 separately licensed nor shall the license be valid to protect
153 any licensee who is engaged in the business under any name other
154 than that specified in the license. An agency desiring to change
155 its licensed name must notify the department and, except upon
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156 renewal, pay a fee not to exceed $30 for each license requiring
157 revision including those of all licensed employees except Class
158 “CG,” Class “D,” or Class “G” licensees. Upon the return of such
159 licenses to the department, revised licenses shall be provided.
160 Section 4. Subsections (2), (4), (5), (6), (8), and (9) of
161 section 493.6115, Florida Statutes, are amended to read:
162 493.6115 Weapons and firearms.—
163 (2)(a) Only Class “C,” Class “CC,” Class “D,” Class “M,”
164 Class “MA,” or Class “MB” licensees are permitted to bear a
165 firearm in the performance of their duties only if and any such
166 licensee also has who bears a firearm shall also have a Class
167 “G” license.
168 (b) Class “C” and Class “CC” licensees are permitted to
169 bear a firearm in the performance of their duties only if such
170 licensee also has a “Class “CG” or Class “G” license.
171 (4) A Class “C” or Class “CC” licensee who is 21 years of
172 age or older and has also been issued a Class “CG” or Class “G”
173 license may carry, in the performance of her or his duties, a
174 concealed firearm. A Class “D” licensee who is 21 years of age
175 or older and has also been issued a Class “G” license may carry
176 a concealed firearm in the performance of her or his duties
177 under the conditions specified in s. 493.6305(3) and (4). The
178 Class “CG” or Class “G” license must clearly indicate such
179 authority. The authority of any such licensee to carry a
180 concealed firearm is valid in any location throughout the state
181 while performing services within the scope of the license.
182 (5)(a) The Class “G” license shall remain in effect only
183 during the period the applicant is employed as a Class “C,”
184 Class “CC,” Class “D,” Class “MA,” Class “MB,” or Class “M”
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185 licensee.
186 (b) The Class “CG” license shall remain in effect only
187 during the period the applicant is employed as a Class “C” or
188 Class “CC” licensee.
189 (6) In addition to any other firearm approved by the
190 department, a licensee who has been issued a Class “CG” or Class
191 “G” license may carry a .38 caliber revolver; or a .380 caliber
192 or 9 millimeter semiautomatic pistol; or a .357 caliber revolver
193 with .38 caliber ammunition only; or a .40 caliber handgun; or a
194 .45 ACP handgun while performing duties authorized under this
195 chapter. A licensee may not carry more than two firearms upon
196 her or his person when performing her or his duties. A licensee
197 may only carry a firearm of the specific type and caliber with
198 which she or he is qualified pursuant to the firearms training
199 referenced in subsection (8) or s. 493.6113(3)(b).
200 (8) A Class “G” applicant must satisfy the minimum training
201 criteria as set forth in s. 493.6105(6) s. 493.6105(5) and as
202 established by rule of the department.
203 (9) Whenever a Class “CG” or Class “G” licensee discharges
204 her or his firearm in the course of her or his duties, the Class
205 “CG” or Class “G” licensee and the agency by which she or he is
206 employed shall, within 5 working days, submit to the department
207 an explanation describing the nature of the incident, the
208 necessity for using the firearm, and a copy of any report
209 prepared by a law enforcement agency. The department may revoke
210 or suspend the Class “CG” or Class “G” licensee’s license and
211 the licensed agency’s agency license if this requirement is not
212 met.
213 Section 5. Present paragraphs (x), (y), and (z) of
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214 subsection (1) of section 493.6118, Florida Statutes, are
215 redesignated as paragraphs (y), (z), and (aa), respectively, a
216 new paragraph (x) is added to that subsection, and paragraphs
217 (v) and (w) of that subsection and paragraph (a) of subsection
218 (8) of that section are amended, to read:
219 493.6118 Grounds for disciplinary action.—
220 (1) The following constitute grounds for which disciplinary
221 action specified in subsection (2) may be taken by the
222 department against any licensee, agency, or applicant regulated
223 by this chapter, or any unlicensed person engaged in activities
224 regulated under this chapter:
225 (v) For a Class “K” licensee, failing to maintain active
226 certification specified under s. 493.6105(7) s. 493.6105(6).
227 (w) For a Class “CG,” Class “G,” or a Class “K” applicant
228 or licensee, being prohibited from purchasing or possessing a
229 firearm by state or federal law.
230 (x) For a Class “CG” licensee, failing to maintain active
231 certification or licensure under s. 493.6105(5).
232 (8)(a) Upon notification by a law enforcement agency, a
233 court, or the Department of Law Enforcement and upon subsequent
234 written verification, the department shall temporarily suspend a
235 Class “CG,” Class “G,” or Class “K” license if the licensee is
236 arrested or charged with a firearms-related crime that would
237 disqualify such person from licensure under this chapter. The
238 department shall notify the licensee suspended under this
239 section of his or her right to a hearing pursuant to chapter
240 120. A hearing conducted regarding the temporary suspension must
241 be for the limited purpose of determining whether the licensee
242 has been arrested or charged with a disqualifying firearms-
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243 related crime.
244 Section 6. Subsection (7) of section 493.6201, Florida
245 Statutes, is amended to read:
246 493.6201 Classes of licenses.—
247 (7)(a) Only Class “M,” or Class “MA,” Class “C,” or Class
248 “CC” licensees are permitted to bear a firearm during the
249 performance of their duties only if, and any such licensee also
250 has who bears a firearm shall also have a Class “G” license.
251 (b) Class “C” and Class “CC” licensees are permitted to
252 bear a firearm during the performance of their duties only if
253 such licensee also has a “Class “CG” or Class “G” license.
254 Section 7. Paragraphs (b) and (d) of subsection (3) of
255 section 493.6113, Florida Statutes, is amended to read:
256 493.6113 Renewal application for licensure.—
257 (3) Each licensee is responsible for renewing his or her
258 license on or before its expiration by filing with the
259 department an application for renewal accompanied by payment of
260 the renewal fee and the fingerprint retention fee to cover the
261 cost of ongoing retention in the statewide automated biometric
262 identification system established in s. 943.05(2)(b). Upon the
263 first renewal of a license issued under this chapter before
264 January 1, 2017, the licensee shall submit a full set of
265 fingerprints and fingerprint processing fees to cover the cost
266 of entering the fingerprints into the statewide automated
267 biometric identification system pursuant to s. 493.6108(4)(a)
268 and the cost of enrollment in the Federal Bureau of
269 Investigation’s national retained print arrest notification
270 program. Subsequent renewals may be completed without submission
271 of a new set of fingerprints.
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272 (b) Each Class “G” licensee shall additionally submit proof
273 that he or she has received during each year of the license
274 period a minimum of 4 hours of firearms requalification training
275 taught by a Class “K” licensee and has complied with such other
276 health and training requirements that the department shall adopt
277 by rule. Proof of completion of firearms requalification
278 training shall be submitted to the department upon completion of
279 the training. A Class “G” licensee must successfully complete
280 this requalification training for each type and caliber of
281 firearm carried in the course of performing his or her regulated
282 duties. If the licensee fails to complete the required 4 hours
283 of annual training during the first year of the 2-year term of
284 the license, the license shall be automatically suspended. The
285 licensee must complete the minimum number of hours of range and
286 classroom training required at the time of initial licensure and
287 submit proof of completion of such training to the department
288 before the license may be reinstated. If the licensee fails to
289 complete the required 4 hours of annual training during the
290 second year of the 2-year term of the license, the licensee must
291 complete the minimum number of hours of range and classroom
292 training required at the time of initial licensure and submit
293 proof of completion of such training to the department before
294 the license may be renewed. The department may waive the
295 firearms training requirement if:
296 1. The applicant provides proof that he or she is currently
297 certified as a law enforcement officer or correctional officer
298 under the Criminal Justice Standards and Training Commission and
299 has completed law enforcement firearms requalification training
300 annually during the previous 2 years of the licensure period;
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301 2. The applicant provides proof that he or she is currently
302 certified as a federal law enforcement officer and has received
303 law enforcement firearms training administered by a federal law
304 enforcement agency annually during the previous 2 years of the
305 licensure period; or
306 3. The applicant submits a valid firearm certificate among
307 those specified in s. 493.6105(7)(a) s. 493.6105(6)(a) and
308 provides proof of having completed requalification training
309 during the previous 2 years of the licensure period.
310 (d) Each Class “K” licensee shall additionally submit one
311 of the certificates specified under s. 493.6105(7) s.
312 493.6105(6) as proof that he or she remains certified to provide
313 firearms instruction.
314 Section 8. This act shall take effect July 1, 2022.
315
316 ================= T I T L E A M E N D M E N T ================
317 And the title is amended as follows:
318 Delete everything before the enacting clause
319 and insert:
320 A bill to be entitled
321 An act relating to private investigative services;
322 amending s. 493.6105, F.S.; exempting Class “CG”
323 license applicants from an application fee; providing
324 application requirements for Class “CG” licenses;
325 amending s. 493.6106, F.S.; providing requirements for
326 Class “CG” licensees; amending s. 493.6111, F.S.;
327 exempting licensed agencies from certain fees relating
328 to license revisions; amending s. 493.6115, F.S.;
329 revising requirements relating to certain licensees
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330 carrying firearms; specifying that Class “CG” licenses
331 remain in effect only while the applicant is employed
332 as a Class “C” or Class “CC” licensee; conforming
333 provisions to changes made by the act; amending s.
334 493.6118, F.S.; specifying when the Department of
335 Agriculture and Consumer Services may take
336 disciplinary action against Class “CG” licensees;
337 conforming a cross-reference; amending s. 493.6201,
338 F.S.; revising requirements relating to certain
339 licensees carrying firearms; amending s. 493.6113,
340 F.S.; conforming cross-references; providing an
341 effective date.
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Florida Senate - 2022 SB 1018 Florida Senate - 2022 SB 1018
By Senator Burgess
20-00709-22 20221018__ 20-00709-22 20221018__
1 A bill to be entitled 30 3. A Class “C,” Class “CC,” Class “D,” Class “M,” Class
2 An act relating to private investigative and security 31 “MA,” or Class “MB” licensee who does not have a Class “G”
3 services; amending s. 493.6115, F.S.; revising 32 license but who is an active law enforcement officer and who
4 eligibility requirements for certain licensees to 33 maintains the annual firearms proficiency qualification required
5 carry firearms; amending s. 493.6305, F.S.; conforming 34 by her or his agency, may bear a firearm in the performance of
6 provisions to changes made by the act; providing an 35 her or his duties.
7 effective date. 36 (4)(a)1. A Class “C” or Class “CC” licensee who is 21 years
8 37 of age or older and has also been issued a Class “G” license,
9 Be It Enacted by the Legislature of the State of Florida: 38 who has a license to carry concealed firearms, or who meets the
10 39 requirements of subparagraph (2)(b)2. may carry, in the
11 Section 1. Subsections (2) and (4) of section 493.6115, 40 performance of her or his duties, a concealed firearm.
12 Florida Statutes, are amended to read: 41 2. A Class “D” licensee who is 21 years of age or older and
13 493.6115 Weapons and firearms.— 42 has also been issued a Class “G” license or who meets the
14 (2)(a) Except as provided in paragraph (b), only Class “C,” 43 requirements of subparagraph (2)(b)2. may carry a concealed
15 Class “CC,” Class “D,” Class “M,” Class “MA,” or Class “MB” 44 firearm in the performance of her or his duties under the
16 licensees are permitted to bear a firearm, and any such licensee 45 conditions specified in s. 493.6305(3) and (4).
17 who bears a firearm shall also have a Class “G” license. 46 (b) The Class “G” license must clearly indicate such
18 (b)1. A Class “C” licensee who does not have a Class “G” 47 authority. The authority of any such licensee to carry a
19 license may bear a firearm if the licensee has a license to 48 concealed firearm is valid in any location throughout the state
20 carry concealed firearms issued pursuant to s. 790.06. 49 while performing services within the scope of the license.
21 2. A Class “C,” Class “CC,” Class “D,” Class “M,” Class 50 Section 2. Subsections (3) and (4) of section 493.6305,
22 “MA,” or Class “MB” licensee who does not have a Class “G” 51 Florida Statutes, are amended to read:
23 license but who is a retired law enforcement officer; who 52 493.6305 Uniforms, required wear; exceptions.—
24 separated from service in good standing; who, before such 53 (3) Class “D” licensees who are authorized to carry a
25 separation, served as a law enforcement officer for at least 10 54 concealed firearm under s. 493.6115(4)(a)2. also Class “G”
26 years; and who maintains her or his annual firearms proficiency 55 licensees and who are performing limited, special assignment
27 qualification pursuant to the federal Law Enforcement Officers 56 duties may carry their authorized firearm concealed in the
28 Safety Act, may bear a firearm in the performance of her or his 57 conduct of such duties.
29 duties. 58 (4) Class “D” licensees who are authorized to carry a
Page 1 of 3 Page 2 of 3
CODING: Words stricken are deletions; words underlined are additions. CODING: Words stricken are deletions; words underlined are additions.
Florida Senate - 2022 SB 1018
20-00709-22 20221018__
59 concealed firearm under s. 493.6115(4)(a)2. also Class “G”
60 licensees and who are performing bodyguard or executive
61 protection services may carry their authorized firearm concealed
62 while in nonuniform as needed in the conduct of such services.
63 Section 3. This act shall take effect July 1, 2022.
Page 3 of 3
CODING: Words stricken are deletions; words underlined are additions.
The Florida Senate
Committee Agenda Request
To: Senator Ed Hooper, Chair
Committee on Commerce and Tourism
Subject: Committee Agenda Request
Date: January 28, 2022
I respectfully request that Senate Bill #1246, relating to Benchmark Replacements for London
Interbank Offered Rate, be placed on the:
committee agenda at your earliest possible convenience.
next committee agenda.
Please let me know if you have any questions.
Sincerely,
Joe Gruters
Cc: Todd McKay, Staff Director
Kathryn Vigrass, Committee Administrative Assistant
File signed original with committee office S-020 (03/2004)
The Florida Senate
BILL ANALYSIS AND FISCAL IMPACT STATEMENT
(This document is based on the provisions contained in the legislation as of the latest date listed below.)
Prepared By: The Professional Staff of the Committee on Commerce and Tourism
BILL: CS/SB 1246
INTRODUCER: Commerce and Tourism Committee and Senator Gruters
SUBJECT: Benchmark Replacements for London Interbank Offered Rate
DATE: February 8, 2022 REVISED:
ANALYST STAFF DIRECTOR REFERENCE ACTION
1. Arnold Knudson BI Favorable
2. Harmsen McKay CM Fav/CS
3. RC
Please see Section IX. for Additional Information:
COMMITTEE SUBSTITUTE - Substantial Changes
I. Summary:
CS/SB 1246 provides for a transition to the Secured Overnight Financing Rate (SOFR) as the
replacement rate for the London Interbank Offered Rate (LIBOR) for contracts and instruments
that lack transition provisions. The bill provides for conforming changes to be made to the
contract or instrument, voids fallback provisions based on LIBOR, and provides for construction
of rights and duties under contracts affected by the bill.
The bill precludes liability, a claim, or a cause of action that arises out of, or is related to the
selection or use of a recommended benchmark replacement, or to the determination,
implementation, or performance of a benchmark replacement conforming change.
The bill provides a statement of overpowering public necessity for the bill and a statement of
legislative finding that there are no alternative means to meet this public necessity.
Finally, the bill contains a statement of legislative intent which indicates that the bill is remedial
in nature and applies retroactively to all contracts, agreements, mortgages, deeds of trust, leases,
instruments, obligations, or securities, whether representing debt or equity, and including all
interests in a corporation, partnership, or limited liability company, in existence on December 31,
2021.
The bill takes effect upon becoming a law.
BILL: CS/SB 1246 Page 2
II. Present Situation:
Background on LIBOR
LIBOR is the reference rate at which large banks indicate that they can borrow short-term
wholesale funds from one another on an unsecured basis in the interbank market.1 The origins of
LIBOR can be traced to a loan transaction in 1969 in which multiple banks were joint lenders
(i.e., a syndicated loan) on a large loan of $80 million.2 The interest rate of the loan was based on
the weighted average of the funding costs for each of the participating banks plus a spread for
profit.3 The rate was recalculated periodically; hence, the rate was variable and reflected market
conditions.4 The idea caught on, and eventually nearly all syndicated loans used LIBOR to
calculate the interest charged.5 Soon the rate was adopted by bankers outside the loan market
who were looking for an elegant proxy for bank borrowing costs that was simple, fair, and
appeared to be independent.6
In addition to providing loans at rates tied to LIBOR, banks whose submissions determined the
fixing of LIBOR had also begun to borrow heavily using LIBOR-based contracts by the mid-
1980s, creating an incentive to underreport funding costs.7 As a result, the British Bankers’
Association (BBA) took control of the rate in 1986 to formalize the data collection and
governance process.8 In that year, LIBOR settings were calculated for the U.S. dollar, the British
pound, and the Japanese yen.9 Over time, the inclusion of additional currencies and integration of
existing currencies into the euro left the BBA with oversight of settings for over ten currencies as
of 2012.10 Fifteen maturity terms were reported for each currency, ranging from overnight to a 1
year term.11
Today, LIBOR is calculated daily by the Intercontinental Exchange (ICE) Benchmark
Administration.12 Eighteen international banks submit rates that each bank believes it would pay,
not what it actually pays, if it had to borrow money from another bank on the interbank lending
market in London.13 The four highest and four lowest submissions are then removed in order to
calculate LIBOR.14 Prior to the end of 2021, the ICE Benchmark Administration calculated the
rate in five currencies (UK Pound Sterling, the Swiss Franc, the Euro, Japanese Yen, and the
1
David Hou and David Skeie, LIBOR: Origins, Economics, Crisis, Scandal, and Reform, Federal Reserve Bank of New York
Staff Reports (March 2014), https://www.newyorkfed.org/medialibrary/media/research/staff_reports/sr667.pdf (last visited
Feb. 4, 2022).
2
Id at 1.
3
Gavin Finch and Liam Vaughan, The Man Who Invented the World’s Most Important Number (November 29, 2016),
https://www.bloomberg.com/news/features/2016-11-29/the-man-who-invented-libor-iw3fpmed (last visited Feb. 4, 2022).
4
Id.
5
Id.
6
Id.
7
David Hou & David Skeie, supra note 1.
8
Id.
9
Id.
10
Id.
11
Id.
12
Miranda Marquit and Benjamin Curry, What Is Libor And Why Is It Being Abandoned?, Forbes (December 16, 2020),
https://www.forbes.com/advisor/investing/what-is-libor/ (last visited Feb. 4, 2022).
13
Id.
14
Id.
BILL: CS/SB 1246 Page 3
U.S. Dollar), and LIBOR was produced in seven maturity terms or “tenors” (overnight/spot next,
1-week, 1-month, 2-month, 3-month, 6-month, and 12-month).15
LIBOR has come under increasing scrutiny from regulators and financial markets alike following
the 2008 financial crisis as well as documented patterns of manipulation by participating banks.16
Others have noted the declining correlations between LIBOR and actual bank funding costs.17 In
2017, the entity that regulates LIBOR, the Financial Conduct Authority (FCA) of the United
Kingdom, stated that LIBOR would cease after the end of 2021.18 However, most U.S. Dollar
LIBOR tenors have been extended to the end of June 2023 to enable time for the market to
transition away from LIBOR.19 The 1-week and 2-month U.S. Dollar LIBOR ended at the end of
2021.20 The FCA has recommended transitions to alternative rates before these dates.21
Adoption of the SOFR
In 2014, the Federal Reserve Board and the Federal Reserve Bank of New York convened the
Alternative Reference Rates Committee (ARRC) to address risks related to the U.S. Dollar
LIBOR.22 The ARRC’s initial objectives were to identify risk-free alternative reference rates for
the U.S. Dollar LIBOR, identify best practices for contract robustness, and create an
implementation plan with metrics of success and a timeline to support an orderly adoption.23 The
ARRC was reconstituted in 2018 with an expanded membership to serve as a forum to
coordinate planning across cash and derivatives products as well as market participants that
currently use the U.S. Dollar LIBOR.24 The ARRC is comprised of a diverse set of private-sector
entities, each with an important presence in markets affected by the U.S. Dollar LIBOR, and a
wide array of official-sector entities, including banking and financial sector regulators, as ex-
officio members.25
In 2017, the ARRC identified SOFR as its recommended alternative to the U.S. Dollar LIBOR.26
SOFR is fully transaction-based and is a broad measure of the cost of borrowing cash overnight
collateralized by U.S. Treasury securities.27 SOFR is based on transaction data from three
segments of the Treasury repurchase agreement market: (1) tri-party repurchase agreements, (2)
General Collateral Finance repurchase agreements; and (3) bilateral repurchase agreement
15
Id.; Financial Conduct Authority, About LIBOR Transition, https://www.fca.org.uk/markets/libor-transition (last visited
Feb. 4, 2022).
16
Marquit and Curry, supra note 12.
17
Bowman et al., How Correlated is LIBOR with Bank Funding Costs? (June 29, 2020),
https://www.federalreserve.gov/econres/notes/feds-notes/how-correlated-is-libor-with-bank-funding-costs-20200629.htm
(last visited Feb. 4, 2022).
18
Financial Conduct Authority, supra note 15.
19
Id.
20
Id.
21
Id.
22
Alternative Reference Rates Committee, Frequently Asked Questions (August 27, 2021),
https://www.newyorkfed.org/medialibrary/Microsites/arrc/files/ARRC-faq.pdf (last visited Feb. 4, 2022).
23
Id.
24
Id.
25
Alternative Reference Rates Committee, Alternative Reference Rates Committee: About, https://www.newyorkfed.org/arrc
(last visited Feb. 4, 2022).
26
Id.
27
Id.
BILL: CS/SB 1246 Page 4
transactions cleared through the Fixed Income Clearing Corporation.28 The Federal Reserve
Bank of New York currently publishes SOFR data daily, as well as SOFR Averages and a SOFR
Index.29
LIBOR Discontinuance
LIBOR has been used in setting interest rates for adjustable rate mortgages, asset-backed
securities, municipal bonds, credit default swaps, private student loans, and other types of debt.30
The total exposure to the U.S. Dollar LIBOR, as of the fourth quarter of 2020, was $223
trillion.31 Although the derivatives market accounts for a large majority of the outstanding value
of all financial products referencing the U.S. Dollar LIBOR, LIBOR is also referenced in several
trillion dollars of corporate loans, floating-rate mortgages, floating-rate notes, and securitized
products.32
Financial institutions and other market participants have been in the process of assessing their
exposure to the discontinuation of LIBOR, and various financial regulators have discouraged the
use of LIBOR as a reference rate in new contracts after December 31, 2021.33 Some financial
contracts that reference LIBOR include robust fallback language that contemplates a replacement
interest rate index or replacement interest rate calculation in the event that the rate referenced in
the contract is discontinued. While an estimated 67 percent of current LIBOR exposures will
mature before LIBOR ceases at the end of June 2023, an estimated $74 trillion will remain
outstanding.34 This fact underscores the importance of finding solutions for legacy contracts,
including legacy LIBOR contracts that have no provisions to replace LIBOR upon its cessation.35
The ARRC posits that legislation is necessary to address those contracts.36
Recent Legislative Reforms
Federal Legislation
Similar to the bill, federal legislation (H.R. 4616) has been proposed that would provide for the
transition of certain financial contracts away from LIBOR.37 In the event a contract referencing
LIBOR does not have a fallback or replacement rate provision in effect when LIBOR is retired,
or a replacement rate is not selected by a determining person as defined by H.R. 4616, H.R. 4616
28
Id.
29
Id.
30
Marquit and Curry, supra note 12.
31
Alternative Reference Rates Committee, supra note 22.
32
Id.
33
See, e.g., U.S. Securities and Exchange Commission Office of Compliance Inspections and Examinations, Risk Alert (June
18, 2020), https://www.sec.gov/files/Risk%20Alert%20-%20OCIE%20LIBOR%20Initiative_1.pdf (last visited Feb. 4,
2022); Board of Governors of the Federal Reserve System et al., Statement on LIBOR Transition (November 30, 2020),
https://www.federalreserve.gov/newsevents/pressreleases/files/bcreg20201130a1.pdf (last visited Feb. 4, 2022); Rohit
Chopra, Joint Statement on Managing the LIBOR Transition (Oct. 20, 2021), https://www.consumerfinance.gov/about-
us/newsroom/joint-statement-on-managing-the-libor-transition/#note5 (last visited Feb. 4, 2022).
34
Alternative Reference Rates Committee, supra note 22.
35
Id.
36
Id.
37
Adjustable Interest Rate (LIBOR) Act of 2021, H.R. 4616, 117th Cong., https://www.congress.gov/bill/117th-
congress/house-bill/4616/text (last visited Feb. 4, 2022).
BILL: CS/SB 1246 Page 5
provides for a transition to SOFR as the replacement rate.38 H.R. 4616 also provides for
conforming changes to these contracts, the continuity and enforceability of these contracts, and
protections against liability as a result of such a transition.39 H.R. 4616 passed the House but has
not yet been acted upon in the Senate.40
State Legislation
New York41 and Alabama42 have passed similar legislation.
III. Effect of Proposed Changes:
Section 1 creates s. 687.15, F.S., “Benchmark Replacements for the London Interbank Offered
Rate,” which provides for the transition to the Secured Overnight Financing Rate (SOFR) as the
replacement rate for LIBOR for contracts and instruments that lack applicable transition
provisions.
The bill provides the following legislative finding:
The Legislature finds that the discontinuation of (LIBOR)43 as a viable interest
rate threatens the continued viability of certain contracts, securities, and
instruments and the rights of the parties to those contracts, securities, or
instruments. Furthermore, the threat of unknown and potentially unbounded
liability and the viability of contracts, securities, and instruments threatens the
state's economy and has created an overpowering public necessity to provide an
immediate and remedial legislative solution. Therefore, the Legislature intends for
parties to certain contracts, securities, or instruments, as provided in [the bill], to
enjoy heightened legal protections as a result of the discontinuation of LIBOR.
The Legislature also finds that there are no alternative means to meet this public
necessity. The Legislature finds that the public interest as a whole is best served
by providing certainty to these contracts, securities, and instruments and the
parties thereto, so that these contracts, securities, and instruments may remain
viable and continue to be enforceable in the state.
38
Id.
39
Id.
40
Id.
41
See NY Assembly Bill 164B, https://www.nysenate.gov/legislation/bills/2021/S297, (last visited Feb. 4, 2022).
42
Financial transactions, Senate Bill 279, https://legiscan.com/AL/text/SB279/id/2379813 (last visited Feb. 4, 2022).
43
“LIBOR” means, for purposes of the application of the bill to any particular contract, security, or instrument, the United
States Dollar LIBOR, formerly known as the London Interbank Offered Rate, as administered by ICE Benchmark
Administration, or any predecessor or successor thereof, or any tenor thereof, as applicable, that is used in making any
calculation or determination of benchmark rates.
BILL: CS/SB 1246 Page 6
Under the bill, various LIBOR discontinuance events44 trigger a LIBOR replacement date45 for a
contract, security, or instrument46 that uses LIBOR as a benchmark,47 if the contract, security, or
instrument also:
Does not contain a fallback provision;48 or
Contains fallback provisions resulting in a benchmark replacement49 that is based in any way
on a LIBOR value.
These specific contracts, securities, and instruments that rely on LIBOR will, by operation of law
on the LIBOR replacement date, replace LIBOR with the recommended benchmark replacement.
44
“LIBOR discontinuance event” means the earliest to occur of any of the following:
a. A public statement or publication of information by, or on behalf of, the administrator of LIBOR announcing that
the administrator has ceased or will cease to provide LIBOR permanently or indefinitely, if, at the time of the statement or
publication, there is no successor administrator that will continue to provide LIBOR.
b. A public statement or publication of information by the regulatory supervisor for the administrator of LIBOR, the
Federal Reserve System, an insolvency official with jurisdiction over the administrator of LIBOR, a resolution authority with
jurisdiction over the administrator of LIBOR, or a court or an entity with similar insolvency or resolution authority over the
administrator of LIBOR, announcing that the administrator of LIBOR has ceased or will cease to provide LIBOR
permanently or indefinitely, if, at the time of the statement or publication, there is no successor administrator that will
continue to provide LIBOR.
c. A public statement or publication of information by the regulatory supervisor for the administrator of LIBOR
announcing that LIBOR is no longer representative.
A public statement or publication of information that affects one or more tenors of LIBOR does not constitute a LIBOR
discontinuance event with respect to a contract, security, or instrument that:
a. Provides for only one tenor of LIBOR, if the contract, security, or instrument requires interpolation and the tenor
can be interpolated from LIBOR tenors that are not so affected; or
b. Allows a party to choose from more than one tenor of LIBOR and any of the tenors is not so affected or, if the
contract, security, or instrument requires interpolation, can be interpolated from LIBOR tenors that are not so affected.
45
“LIBOR replacement date” means:
a. In the case of a LIBOR discontinuance event described in a. or b. (supra note 44), the later of:
(I) The date of the public statement or publication of information referenced in a. or b. (supra note 44); or
(II) The date on which the administrator of LIBOR permanently or indefinitely ceases to provide LIBOR.
b. In the case of a LIBOR discontinuance event described in c. (supra note 44), the date of the public statement or
publication of information referenced in c. (supra note 44).
2. A date that affects one or more tenors of LIBOR does not constitute a LIBOR replacement date with respect to a
contract, security, or instrument that:
a. Provides for only one tenor of LIBOR, if the contract, security, or instrument requires interpolation and the tenor
can be interpolated from LIBOR tenors that are not so affected; or
b. Allows a party to choose from more than one tenor of LIBOR and any of the tenors is not so affected or, if the
contract, security, or instrument requires interpolation, can be interpolated from LIBOR tenors that are not so affected.
46
“Contract, security, or instrument” includes, without limitation, any contract, agreement, mortgage, deed of trust, lease,
instrument, obligation, or security, whether representing debt or equity, and including any interest in a corporation,
partnership, or limited liability company.
47
“Benchmark” means an index of interest rates or dividend rates that is used, in whole or in part, as the basis of, or as a
reference for, calculating or determining a valuation, payment, or other measurement under or with respect to a contract,
security, or instrument.
48
“Fallback provision” means a term in a contract, security, or instrument which sets forth a methodology or procedure for
determining a benchmark replacement, including any term relating to the date on which the benchmark replacement becomes
effective, without regard to whether a benchmark replacement can be determined in accordance with the methodology or
procedure.
49
“Benchmark replacement” means a benchmark, an interest rate, or a dividend rate that may or may not be based, in whole
or in part, on a prior setting of LIBOR, to replace LIBOR or any interest rate or dividend rate based on LIBOR, whether on a
temporary, permanent, or indefinite basis, under or with respect to a contract, security, or instrument.
BILL: CS/SB 1246 Page 7
The recommended benchmark is a benchmark replacement based on SOFR50, which must
include any recommended spread adjustment,51 and any benchmark replacement conforming
change52 that has been selected or recommended by a relevant recommending body53 with
respect to the type of contract, security, or instrument.
After a LIBOR discontinuance event, any fallback provisions in a contract, security, or
instrument that provides for a benchmark replacement based on or otherwise involving a poll,
survey, or inquiry for quotes or information concerning interbank lending rates or any interest
rate or dividend rate based on LIBOR will be void and of no force or effect.
For any contract, security, or instrument that uses LIBOR as a benchmark and that contains
fallback provisions that allow or require the selection of a benchmark replacement that is based
in any way on a LIBOR value or a benchmark replacement that is similar to LIBOR, a
determining person54 may select the recommended benchmark replacement as the benchmark
replacement after the occurrence of a LIBOR discontinuance event. In such case, the selection of
the recommended benchmark replacement must be:
Irrevocable;
50
“SOFR” means, with respect to any day, the secured overnight financing rate published for the day by the Federal Reserve
Bank of New York as the administrator of the benchmark, or a successor administrator, on the Federal Reserve Bank of New
York's website.
51
“Recommended spread adjustment” means a spread adjustment, or method for calculating or determining the spread
adjustment, which has been selected or recommended by a relevant recommending body for a recommended benchmark
replacement for a particular type of contract, security, or instrument and for a particular term to account for the effects of the
transition or change from LIBOR to a recommended benchmark replacement. This term may be a positive or negative value
or zero.
52
“Benchmark replacement conforming change” means, with respect to any type of contract, security, or instrument, a
technical, administrative, or operational change, alteration, or modification that is associated with and reasonably necessary
to the use, adoption, calculation, or implementation of a recommended benchmark replacement and that has been selected or
recommended by a relevant recommending body. However, if, in the reasonable judgment of a calculating person, the
change, alteration, or modification selected or recommended by a relevant recommending body does not apply to the
contract, security, or instrument or is insufficient to allow administration and calculation of the recommended benchmark
replacement, the benchmark replacement conforming change may include other changes, alterations, or modifications that, in
the reasonable judgment of the calculating person:
1. Are necessary to allow administration and calculation of the recommended benchmark replacement under or with
respect to the contract, security, or instrument in a manner consistent with market practice for substantially similar contracts,
securities, or instruments and, to the extent practicable, the manner in which the contract, security, or instrument was
administered immediately before the LIBOR replacement date.
2. Would not result in a disposition of the contract, security, or instrument for federal income tax purposes.
“Calculating person” means, with respect to any contract, security, or instrument, a person responsible for calculating or
determining a valuation, payment, or other measurement based on a benchmark. This person may be the determining person.
See infra note 54 for the definition of “determining person”.
53
“Relevant recommending body” means the Federal Reserve Board, the Federal Reserve Bank of New York, the ARRC, or
a successor to any of these.
54
“Determining person” means, with respect to any contract, security, or instrument, the following persons in decreasing
order of priority:
1. A person so specified.
2. A person with the authority, right, or obligation to do any of the following:
a. Determine the benchmark replacement that will take effect on the LIBOR replacement date.
b. Calculate or determine a valuation, payment, or other measurement based on a benchmark.
c. Notify other persons of the occurrence of a LIBOR discontinuance event, a LIBOR replacement date, or a
benchmark replacement.
BILL: CS/SB 1246 Page 8
Made by the earlier of the LIBOR replacement date or the latest date for selecting a
benchmark replacement according to the contract, security, or instrument; and
Used in any determination of the benchmark under or with respect to the contract, security,
or instrument occurring on and after the LIBOR replacement date.
If a recommended benchmark replacement becomes the benchmark replacement for a contract,
security, or instrument under the bill, then all benchmark replacement conforming changes that
are applicable to the recommended benchmark replacement must become an integral part of the
contract, security, or instrument by operation of law.
The selection or use of a recommended benchmark replacement as a benchmark replacement
under or with respect to a contract, security, or instrument, by operation of the bill, constitutes:
A commercially reasonable replacement for and a commercially substantial equivalent to
LIBOR.
A reasonable, comparable, or analogous term for LIBOR under or with respect to the
contract, security, or instrument.
A replacement that is based on a methodology or information that is similar or comparable to
LIBOR.
Substantial performance by any person of any right or obligation relating to or based on
LIBOR under or with respect to a contract, security, or instrument.
A LIBOR discontinuance event, a LIBOR replacement date, the selection or use of a
recommended benchmark replacement as a benchmark replacement, or the determination,
implementation, or performance of a benchmark replacement conforming change, in each case,
by operation of the bill, may not:
Be deemed to impair or affect the right of any person to receive a payment, or affect the
amount or timing of the payment, under a contract, security, or instrument;
Have the effect of discharging or excusing performance under a contract, security, or
instrument for any reason, claim, or defense, including, but not limited to, any force majeure
or other provision in a contract, security, or instrument;
Have the effect of giving any person the right to unilaterally terminate or suspend
performance under a contract, security, or instrument;
Have the effect of constituting a breach of a contract, security, or instrument; or
Have the effect of voiding or nullifying a contract, security, or instrument.
A person is not liable for damages to any other person, and is not subject to any claim or request
for equitable relief, that arises out of, or is related to the selection or use of a recommended
benchmark replacement or the determination, implementation, or performance of a benchmark
replacement conforming change, in each case, by operation of the bill. The selection or use of the
recommended benchmark replacement or the determination, implementation, or performance of
a benchmark replacement conforming change may not give rise to any claim or cause of action
by any person in law or in equity.
The selection or use of a recommended benchmark replacement or the determination,
implementation, or performance of a benchmark replacement conforming change, by operation
of the bill, may not be deemed to:
BILL: CS/SB 1246 Page 9
Be an amendment or modification of a contract, security, or instrument.
Prejudice, impair, or affect a person's rights, interests, or obligations under or with respect to
a contract, security, or instrument.
Except as otherwise provided in the bill, the bill may not be interpreted as creating a negative
inference or negative presumption regarding the validity or enforceability of any of the
following:
A benchmark replacement that is not a recommended benchmark replacement.
A spread adjustment, or method for calculating or determining a spread adjustment, which is
not a recommended spread adjustment.
A change, alteration, or modification to or with respect to a contract, security, or instrument
which is not a benchmark replacement conforming change.
The bill does not alter or impair any of the following:
A written agreement by all required parties which, retrospectively or prospectively, provides
that a contract, security, or instrument is not subject to the bill without necessarily referring
specifically to the statute created by the bill.
A contract, security, or instrument that contains fallback provisions that would result in a
benchmark replacement that is not based on LIBOR, including, but not limited to, the prime
rate or the federal funds rate. However, after the occurrence of a LIBOR discontinuance
event, any fallback provisions in a contract, security, or instrument which provide for a
benchmark replacement based on or otherwise involving a poll, survey, or inquiry for quotes
or information concerning interbank lending rates or any interest rate or dividend rate based
on LIBOR will be void and of no force or effect.
A contract, security, or instrument as to which a determining person does not elect to use a
recommended benchmark replacement or as to which a determining person elects to use a
recommended benchmark replacement before the occurrence of a LIBOR discontinuance
event. However, after the occurrence of a LIBOR discontinuance event, any fallback
provisions in a contract, security, or instrument which provide for a benchmark replacement
based on or otherwise involving a poll, survey, or inquiry for quotes or information
concerning interbank lending rates or any interest rate or dividend rate based on LIBOR will
be void and of no force or effect.
The application to a recommended benchmark replacement of any cap, floor, modifier, or
spread adjustment to which LIBOR had been subject pursuant to the terms of a contract,
security, or instrument.
Notwithstanding the Uniform Commercial Code55 or any other law of this state, and except as
otherwise provided in the bill, the bill applies to all contracts, securities, and instruments,
including contracts with respect to commercial transactions, and may not be superseded by any
other law of this state.
Section 2 provides that the provisions of the bill are remedial in nature and apply retroactively to
all contracts, agreements, mortgages, deeds of trust, leases, instruments, obligations, or
55
Chapters 670-680, F.S., comprise the Uniform Commercial Code. Section 671.101, F.S.
BILL: CS/SB 1246 Page 10
securities, whether representing debt or equity, and including all interests in a corporation,
partnership, or limited liability company, in existence on December 31, 2021.
Section 3 provides that the bill takes effect upon becoming a law.
IV. Constitutional Issues:
A. Municipality/County Mandates Restrictions:
None.
B. Public Records/Open Meetings Issues:
None.
C. Trust Funds Restrictions:
None.
D. State Tax or Fee Increases:
None.
E. Other Constitutional Issues:
Impairment of Contracts and Due Process
Both the Florida and the United States Constitutions prohibit the state from passing a law
impairing contractual obligations.56 However, the Legislature may provide that a non-
criminal law, including one that affects existing contractual obligations, applies
retroactively in certain situations.57 In determining whether a law may be applied
retroactively, courts first determine whether the law is procedural, remedial, or
substantive in nature.58 A purely procedural or remedial law may apply retroactively
without offending the Constitution, but a substantive law generally may not apply
retroactively absent clear legislative intent to the contrary.59 However, even where the
Legislature has expressly stated that a law will have retroactive application, a court may
reject that application if the law impairs a vested right, creates a new obligation, or
imposes a new penalty.60 Further, where a law is designed to serve a remedial purpose, a
court may decide not to apply the law retroactively where doing so “would attach new
legal consequences to events completed before its enactment.”61
56 U.S. Const. art. I, s. 10; Art. I, s. 10, Fla. Const.
57 U.S. Const. art. I, ss. 9 and 10; Art. 1, s. 10, Fla. Const.
58 A procedural law merely establishes the means and methods for applying or enforcing existing duties or rights. A remedial law confers
or changes a remedy, i.e., the means employed in enforcing an existing right or in redressing an injury. A substantive law creates, alters, or
impairs existing substantive rights. Windom v. State, 656 So. 2d 432 (Fla. 1995); St. John’s Village I, Ltd. v. Dept. of State, 497 So. 2d 990
(Fla. 5th DCA 1986); McMillen v. State Dept. of Revenue, 74 So. 2d 1234 (Fla. 1st DCA 1999).
59 State Farm Mutual Automobile Ins. Co. v. Laforet, 658 So. 2d 55 (Fla. 1995).
60 Menendez v. Progressive Exp. Ins. Co., Inc., 35 So. 3d 873 (Fla. 2010).
61 L. Ross, Inc. v. R.W. Roberts Const. Co., 481 So. 2d 484 (Fla. 1986).
BILL: CS/SB 1246 Page 11
Moreover, both the Florida and United States Constitutions prohibit the taking of life,
liberty, or property without due process of law.62 The right to contract, as long as no
fraud or deception is involved and the contract is otherwise legal, is both a liberty and a
property right subject to due process protections, and the impairment of contracts may, in
certain instances, be viewed as the taking of property without due process.63
For certain contracts and instruments, the bill provides for a transition to SOFR as the
replacement rate for LIBOR, provides for conforming changes to be made to the contract
or instrument, voids fallback provisions that are based on LIBOR, and provides for
construction of rights and duties under contracts affected by the bill. Additionally, the bill
contains a statement of legislative intent indicating that the bill is remedial in nature and
applies retroactively to all contracts, agreements, mortgages, deeds of trust, leases,
instruments, obligations, or securities, whether representing debt or equity, and including
all interests in a corporation, partnership, or limited liability company, in existence on
December 31, 2021. Whether the Legislature’s retroactive modification of such contracts
and instruments is procedural, remedial, or substantive, and whether such modification
implicates the constitutional right to contract or the constitutional right to due process, is
for the courts to decide.
Retroactive Application of Law and Expression of Remedial Nature
Under Florida law, statutes are presumed to operate prospectively, not retroactively. In
other words, statutes generally apply only to actions that occur on or after the effective
date of the legislation, not before the legislation becomes effective.
The Florida Supreme Court has noted that, under the rules of statutory construction, if
statutes are to operate retroactively, the Legislature must clearly express that intent for
the statute to be valid.64 When statutes that are expressly retroactive have been litigated
and appealed, the courts have been asked to determine whether the statute is remedial in
nature so as to require application to cases that were pending at the time the statute went
into effect. Generally, “the presumption applied to procedural and remedial statutes is
that they are to apply to pending cases.”65 Conversely, a law that affects substantive
rights by creating substantive new rights or imposing new legal burdens is presumed to
apply prospectively.66
In a recent Florida Supreme Court case, the Court acknowledged that “[t]he distinction
between substantive and procedural (remedial) law is neither simple nor certain.”67 The
62 U.S. Const. amends. V and XIV; Art. I, s. 21, Fla. Const.
63 Miles v. City of Edgewater Police Dept., 190 So. 3d 171 (Fla. 1st DCA 2016); see, e.g., Griffin v. Sharpe, 65 So. 2d 751 (Fla. 1953)
(finding that a statute removing a specific deed restriction’s expiration date both impaired contracts and constituted a taking of private
property without due process).
64
Walker & LaBerge, Inc., v. Halligan, 344 So. 2d 239 (Fla. 1977). See also, Alamo Rent-A-Car, Inc. v. Mancusi, 632 So.2d
1352 (Fla. 1994). However, “[j]ust because the Legislature labels something as being remedial, however, does not make it
so.” See, e.g., State v. Smith, 547 So2d 613 (Fla. 1989); State, Dep’t of Transp. v. Knowles, 402 So.2d 1155 (Fla. 1981).
65
Love at 181, citing Arrow Air, Inc. v. Walsh, 645 So.2d 422, 424 (Fla. 1994).
66
Arrow Air, Inc., at 424.
67
Love v. State, 286 So. 3d 177, 183 (Fla. 2019) quoting Caple v. Tuttle’s Design-Build, Inc., 753 So. 2d 49, 53 (Fa. 2000).
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Court further acknowledged that their previous pronouncements regarding the
retroactivity of procedural laws have been less than precise and have been unclear.68
Courts, however, have invalidated the retroactive application of a statute if the statute
impairs vested rights, creates new obligations, or imposes new penalties.69 Still, in other
cases, the courts have permitted statutes to be applied retroactively if they do not create
new, or take away, vested rights, but only operate to further a remedy or confirm rights
that already exist.70
Access to Courts
In Kluger v. White,71 the Florida Supreme Court evaluated to what extent the Legislature
may alter a civil cause of action. The Court stated that it would not completely prohibit the
Legislature from altering a cause of action, but neither would it allow the Legislature "to
destroy a traditional and long-standing cause of action upon mere legislative whim . . . ."
The takeaway from Kluger and other relevant case law is that the Legislature may:
Reduce the right to bring a cause of action as long as the right is not entirely
abolished.72
Abolish a cause of action that is not "traditional and long-standing" – that is, a cause
of action that did not exist at common law, and that did not exist in statute before the
adoption of the Florida Constitution's Declaration of Rights.73
Abolish a cause of action if the Legislature either:
o Provides a reasonable commensurate benefit in exchange;74 or
o Shows an "overpowering public necessity for the abolishment of such right, and
no alternative method of meeting such public necessity can be shown."75
The bill precludes liability, a claim, or a cause of action arising out of or related to the
selection or use of a recommended benchmark replacement or the determination,
implementation, or performance of a benchmark replacement conforming change. The
bill also provides a statement demonstrating the overpowering public necessity for the
bill and a finding that there are no alternative means to meet this public necessity.
68
Love at 184.
69
R.A.M. of South Florida, Inc. v. WCI Communities, Inc., 869 So. 2d 1210 (Fla 2004).
70
Ziccardi v. Strother, 570 So. 2d 1319 (Fla. 1990).
71 Kluger, 281 So. 2d 1 (Fla. 1973).
72 See Achord v. Osceola Farms Co., 52 So. 3d 699 (Fla. 2010).
73
See Anderson v. Gannett Comp., 994 So. 2d 1048 (Fla. 2008) (false light was not actionable under the common law); McPhail v. Jenkins,
382 So. 2d 1329 (Fla. 1980) (wrongful death was not actionable under the common law); see also Kluger, 281 So. 2d at 4 ("We hold,
therefore, that where a right of access to the courts for redress for a particular injury has been provided by statutory law predating the adoption
of the Declaration of Rights of the Constitution of the State of Florida, or where such right has become a part of the common law of the State
. . . the Legislature is without power to abolish such a right without providing a reasonable alternative . . . unless the Legislature can show an
overpowering public necessity . . .").
74 Kluger, 281 So. 2d at 4; see Univ. of Miami v. Echarte, 618 So. 2d 189 (Fla. 1993) (upholding statutory cap on medical malpractice
damages because the Legislature provided arbitration, which is a "commensurate benefit" for a claimant); accord Lasky v. State Farm Ins.
Co., 296 So. 2d 9 (Fla. 1974); but see Smith v. Dept. of Ins., 507 So. 2d 1080 (Fla. 1992) (striking down noneconomic cap on damages, which,
although not wholly abolishing a cause of action, did not provide a commensurate benefit).
75 Kluger, 281 So. 2d at 4-5 (noting that in 1945, the Legislature abolished the right to sue for several causes of action, but successfully
demonstrated "the public necessity required for the total abolition of a right to sue") (citing Rotwein v. Gersten, 36 So. 2d 419 (Fla. 1948);
see Echarte, 618 So. 2d at 195 ("Even if the medical malpractice arbitration statutes at issue did not provide a commensurate benefit, we
would find that the statutes satisfy the second prong of Kluger which requires a legislative finding that an 'overpowering public necessity'
exists, and further that 'no alternative method of meeting such public necessity can be shown'").
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V. Fiscal Impact Statement:
A. Tax/Fee Issues:
None.
B. Private Sector Impact:
This bill changes terms of certain contracts by the effect of law. This may make the
effectuation of these contracts more efficient, as the LIBOR benchmark is being
discontinued.
C. Government Sector Impact:
None.
VI. Technical Deficiencies:
None.
VII. Related Issues:
None.
VIII. Statutes Affected:
This bill substantially amends section 687.15 of the Florida Statutes.
IX. Additional Information:
A. Committee Substitute – Statement of Substantial Changes:
(Summarizing differences between the Committee Substitute and the prior version of the bill.)
CS by Commerce and Tourism on February 7, 2022:
Clarifies the definition of a “benchmark replacement conforming change” to allow,
but not require, additional changes to a contract, security, or instrument if the changes
selected or recommended by the relevant recommending body are insufficient to
allow for the administration and calculation of the recommended benchmark
replacement; and
Replaces the undefined term “recommended replacement benchmark” with the
defined “recommended benchmark replacement.”
B. Amendments:
None.
This Senate Bill Analysis does not reflect the intent or official position of the bill’s introducer or the Florida Senate.
Florida Senate - 2022 COMMITTEE AMENDMENT
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LEGISLATIVE ACTION
Senate . House
Comm: RCS .
02/08/2022 .
.
.
.
The Committee on Commerce and Tourism (Gruters) recommended the
following:
1 Senate Amendment (with title amendment)
2
3 Delete everything after the enacting clause
4 and insert:
5 Section 1. Section 687.15, Florida Statutes, is created to
6 read:
7 687.15 Benchmark replacements for the London Interbank
8 Offered Rate.—
9 (1) The Legislature finds that the discontinuation of the
10 London Interbank Offered Rate (LIBOR) as a viable interest rate
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11 threatens the continued viability of certain contracts,
12 securities, and instruments and the rights of the parties to
13 those contracts, securities, or instruments. Furthermore, the
14 threat of unknown and potentially unbounded liability and the
15 viability of contracts, securities, and instruments threatens
16 the state’s economy and has created an overpowering public
17 necessity to provide an immediate and remedial legislative
18 solution. Therefore, the Legislature intends for parties to
19 certain contracts, securities, or instruments, as provided in
20 this section, to enjoy heightened legal protections as a result
21 of the discontinuation of LIBOR. The Legislature also finds that
22 there are no alternative means to meet this public necessity.
23 The Legislature finds that the public interest as a whole is
24 best served by providing certainty to these contracts,
25 securities, and instruments and the parties thereto, so that
26 these contracts, securities, and instruments may remain viable
27 and continue to be enforceable in the state.
28 (2) As used in this section, the term:
29 (a) “Benchmark” means an index of interest rates or
30 dividend rates that is used, in whole or in part, as the basis
31 of, or as a reference for, calculating or determining a
32 valuation, payment, or other measurement under or with respect
33 to a contract, security, or instrument.
34 (b) “Benchmark replacement” means a benchmark, an interest
35 rate, or a dividend rate that may or may not be based, in whole
36 or in part, on a prior setting of LIBOR, to replace LIBOR or any
37 interest rate or dividend rate based on LIBOR, whether on a
38 temporary, permanent, or indefinite basis, under or with respect
39 to a contract, security, or instrument.
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40 (c) “Benchmark replacement conforming change” means, with
41 respect to any type of contract, security, or instrument, a
42 technical, administrative, or operational change, alteration, or
43 modification that is associated with and reasonably necessary to
44 the use, adoption, calculation, or implementation of a
45 recommended benchmark replacement and that has been selected or
46 recommended by a relevant recommending body. However, if, in the
47 reasonable judgment of a calculating person, the change,
48 alteration, or modification selected or recommended by a
49 relevant recommending body does not apply to the contract,
50 security, or instrument or is insufficient to allow
51 administration and calculation of the recommended benchmark
52 replacement, the benchmark replacement conforming change may
53 include other changes, alterations, or modifications that, in
54 the reasonable judgment of the calculating person:
55 1. Are necessary to allow administration and calculation of
56 the recommended benchmark replacement under or with respect to
57 the contract, security, or instrument in a manner consistent
58 with market practice for substantially similar contracts,
59 securities, or instruments and, to the extent practicable, the
60 manner in which the contract, security, or instrument was
61 administered immediately before the LIBOR replacement date.
62 2. Would not result in a disposition of the contract,
63 security, or instrument for federal income tax purposes.
64 (d) “Calculating person” means, with respect to any
65 contract, security, or instrument, a person responsible for
66 calculating or determining a valuation, payment, or other
67 measurement based on a benchmark. This person may be the
68 determining person.
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69 (e) “Contract, security, or instrument” includes, without
70 limitation, any contract, agreement, mortgage, deed of trust,
71 lease, instrument, obligation, or security, whether representing
72 debt or equity, and including any interest in a corporation,
73 partnership, or limited liability company.
74 (f) “Determining person” means, with respect to any
75 contract, security, or instrument, the following persons in
76 decreasing order of priority:
77 1. A person so specified.
78 2. A person with the authority, right, or obligation to do
79 any of the following:
80 a. Determine the benchmark replacement that will take
81 effect on the LIBOR replacement date.
82 b. Calculate or determine a valuation, payment, or other
83 measurement based on a benchmark.
84 c. Notify other persons of the occurrence of a LIBOR
85 discontinuance event, a LIBOR replacement date, or a benchmark
86 replacement.
87 (g) “Fallback provision” means a term in a contract,
88 security, or instrument which sets forth a methodology or
89 procedure for determining a benchmark replacement, including any
90 term relating to the date on which the benchmark replacement
91 becomes effective, without regard to whether a benchmark
92 replacement can be determined in accordance with the methodology
93 or procedure.
94 (h) “LIBOR” means, for purposes of the application of this
95 section to any particular contract, security, or instrument, the
96 United States dollar LIBOR, formerly known as the London
97 Interbank Offered Rate, as administered by ICE Benchmark
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98 Administration, or any predecessor or successor thereof, or any
99 tenor thereof, as applicable, that is used in making any
100 calculation or determination of benchmark rates.
101 (i)1. “LIBOR discontinuance event” means the earliest to
102 occur of any of the following:
103 a. A public statement or publication of information by, or
104 on behalf of, the administrator of LIBOR announcing that the
105 administrator has ceased or will cease to provide LIBOR
106 permanently or indefinitely, if, at the time of the statement or
107 publication, there is no successor administrator that will
108 continue to provide LIBOR.
109 b. A public statement or publication of information by the
110 regulatory supervisor for the administrator of LIBOR, the
111 Federal Reserve System, an insolvency official with jurisdiction
112 over the administrator of LIBOR, a resolution authority with
113 jurisdiction over the administrator of LIBOR, or a court or an
114 entity with similar insolvency or resolution authority over the
115 administrator of LIBOR, announcing that the administrator of
116 LIBOR has ceased or will cease to provide LIBOR permanently or
117 indefinitely, if, at the time of the statement or publication,
118 there is no successor administrator that will continue to
119 provide LIBOR.
120 c. A public statement or publication of information by the
121 regulatory supervisor for the administrator of LIBOR announcing
122 that LIBOR is no longer representative.
123 2. A public statement or publication of information that
124 affects one or more tenors of LIBOR does not constitute a LIBOR
125 discontinuance event with respect to a contract, security, or
126 instrument that:
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127 a. Provides for only one tenor of LIBOR, if the contract,
128 security, or instrument requires interpolation and the tenor can
129 be interpolated from LIBOR tenors that are not so affected; or
130 b. Allows a party to choose from more than one tenor of
131 LIBOR and any of the tenors is not so affected or, if the
132 contract, security, or instrument requires interpolation, can be
133 interpolated from LIBOR tenors that are not so affected.
134 (j)1. “LIBOR replacement date” means:
135 a. In the case of a LIBOR discontinuance event described in
136 sub-subparagraph (i)1.a. or sub-subparagraph (i)1.b., the later
137 of:
138 (I) The date of the public statement or publication of
139 information referenced in sub-subparagraph (i)1.a. or sub-
140 subparagraph (i)1.b.; or
141 (II) The date on which the administrator of LIBOR
142 permanently or indefinitely ceases to provide LIBOR.
143 b. In the case of a LIBOR discontinuance event described in
144 sub-subparagraph (i)1.c., the date of the public statement or
145 publication of information referenced in sub-subparagraph
146 (i)1.c.
147 2. A date that affects one or more tenors of LIBOR does not
148 constitute a LIBOR replacement date with respect to a contract,
149 security, or instrument that:
150 a. Provides for only one tenor of LIBOR, if the contract,
151 security, or instrument requires interpolation and the tenor can
152 be interpolated from LIBOR tenors that are not so affected; or
153 b. Allows a party to choose from more than one tenor of
154 LIBOR and any of the tenors is not so affected or, if the
155 contract, security, or instrument requires interpolation, can be
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156 interpolated from LIBOR tenors that are not so affected.
157 (k) “Recommended benchmark replacement” means, with respect
158 to any particular type of contract, security, or instrument, a
159 benchmark replacement based on SOFR that must include any
160 recommended spread adjustment and any benchmark replacement
161 conforming change that have been selected or recommended by a
162 relevant recommending body with respect to the type of contract,
163 security, or instrument.
164 (l) “Recommended spread adjustment” means a spread
165 adjustment, or method for calculating or determining the spread
166 adjustment, which has been selected or recommended by a relevant
167 recommending body for a recommended benchmark replacement for a
168 particular type of contract, security, or instrument and for a
169 particular term to account for the effects of the transition or
170 change from LIBOR to a recommended benchmark replacement. This
171 term may be a positive or negative value or zero.
172 (m) “Relevant recommending body” means the Federal Reserve
173 Board, the Federal Reserve Bank of New York, the Alternative
174 Reference Rates Committee, or a successor to any of them.
175 (n) “SOFR” means, with respect to any day, the secured
176 overnight financing rate published for the day by the Federal
177 Reserve Bank of New York as the administrator of the benchmark,
178 or a successor administrator, on the Federal Reserve Bank of New
179 York’s website.
180 (3) On the LIBOR replacement date, the recommended
181 benchmark replacement, by operation of law, shall be the
182 benchmark replacement for a contract, security, or instrument
183 that uses LIBOR as a benchmark and that:
184 (a) Does not contain a fallback provision; or
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185 (b) Contains fallback provisions resulting in a benchmark
186 replacement, other than a recommended benchmark replacement,
187 that is based in any way on a LIBOR value.
188 (4) After the occurrence of a LIBOR discontinuance event,
189 any fallback provisions in a contract, security, or instrument
190 which provide for a benchmark replacement based on or otherwise
191 involving a poll, survey, or inquiry for quotes or information
192 concerning interbank lending rates or any interest rate or
193 dividend rate based on LIBOR shall be void and of no force or
194 effect.
195 (5)(a) A determining person may, but is not required to,
196 select the recommended benchmark replacement as the benchmark
197 replacement after the occurrence of a LIBOR discontinuance
198 event. The selection of the recommended benchmark replacement
199 must be:
200 1. Irrevocable;
201 2. Made by the earlier of the LIBOR replacement date or the
202 latest date for selecting a benchmark replacement according to
203 the contract, security, or instrument; and
204 3. Used in any determination of the benchmark under or with
205 respect to the contract, security, or instrument occurring on
206 and after the LIBOR replacement date.
207 (b) Paragraph (a) applies to a contract, security, or
208 instrument that uses LIBOR as a benchmark and that contains
209 fallback provisions allowing or requiring the selection of a
210 benchmark replacement that is:
211 1. Based in any way on a LIBOR value; or
212 2. The substantive equivalent of paragraph (7)(a),
213 paragraph (7)(b), or paragraph (7)(c).
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214 (6) If a recommended benchmark replacement becomes the
215 benchmark replacement for a contract, security, or instrument
216 under this section, then all benchmark replacement conforming
217 changes that are applicable to the recommended benchmark
218 replacement must become an integral part of the contract,
219 security, or instrument by operation of law.
220 (7) The selection or use of a recommended benchmark
221 replacement as a benchmark replacement under or with respect to
222 a contract, security, or instrument by operation of this section
223 constitutes all of the following:
224 (a) A commercially reasonable replacement for and a
225 commercially substantial equivalent to LIBOR.
226 (b) A reasonable, comparable, or analogous term for LIBOR
227 under or with respect to the contract, security, or instrument.
228 (c) A replacement that is based on a methodology or
229 information that is similar or comparable to LIBOR.
230 (d) Substantial performance by any person of any right or
231 obligation relating to or based on LIBOR under or with respect
232 to a contract, security, or instrument.
233 (8) A LIBOR discontinuance event, a LIBOR replacement date,
234 the selection or use of a recommended benchmark replacement as a
235 benchmark replacement, or the determination, implementation, or
236 performance of a benchmark replacement conforming change, in
237 each case, by operation of this section, may not:
238 (a) Be deemed to impair or affect the right of any person
239 to receive a payment, or affect the amount or timing of the
240 payment, under a contract, security, or instrument;
241 (b) Have the effect of discharging or excusing performance
242 under a contract, security, or instrument for any reason, claim,
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243 or defense, including, but not limited to, any force majeure or
244 other provision in a contract, security, or instrument;
245 (c) Have the effect of giving any person the right to
246 unilaterally terminate or suspend performance under a contract,
247 security, or instrument;
248 (d) Have the effect of constituting a breach of a contract,
249 security, or instrument; or
250 (e) Have the effect of voiding or nullifying a contract,
251 security, or instrument.
252 (9) A person is not liable for damages to any other person,
253 and is not subject to any claim or request for equitable relief,
254 arising out of or related to the selection or use of a
255 recommended benchmark replacement or the determination,
256 implementation, or performance of a benchmark replacement
257 conforming change, in each case, by operation of this section.
258 The selection or use of the recommended benchmark replacement or
259 the determination, implementation, or performance of a benchmark
260 replacement conforming change may not give rise to any claim or
261 cause of action by any person in law or in equity.
262 (10) The selection or use of a recommended benchmark
263 replacement or the determination, implementation, or performance
264 of a benchmark replacement conforming change, by operation of
265 this section, may not be deemed to:
266 (a) Be an amendment or modification of a contract,
267 security, or instrument.
268 (b) Prejudice, impair, or affect a person’s rights,
269 interests, or obligations under or with respect to a contract,
270 security, or instrument.
271 (11) Except as provided in subsection (3) or subsection
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272 (5), this section may not be interpreted as creating a negative
273 inference or negative presumption regarding the validity or
274 enforceability of any of the following:
275 (a) A benchmark replacement that is not a recommended
276 benchmark replacement.
277 (b) A spread adjustment, or method for calculating or
278 determining a spread adjustment, which is not a recommended
279 spread adjustment.
280 (c) A change, alteration, or modification to or with
281 respect to a contract, security, or instrument which is not a
282 benchmark replacement conforming change.
283 (12) This section does not alter or impair any of the
284 following:
285 (a) A written agreement by all requisite parties which,
286 retrospectively or prospectively, provides that a contract,
287 security, or instrument is not subject to this section without
288 necessarily referring specifically to this section. As used in
289 this paragraph, the term “requisite parties” means all parties
290 required to amend the terms and provisions of a contract,
291 security, or instrument that would otherwise be altered or
292 affected by this section.
293 (b) A contract, security, or instrument that contains
294 fallback provisions that would result in a benchmark replacement
295 that is not based on LIBOR, including, but not limited to, the
296 prime rate or the federal funds rate. However, the contract,
297 security, or instrument is subject to subsection (4).
298 (c) A contract, security, or instrument subject to
299 subsection (5) as to which a determining person does not elect
300 to use a recommended benchmark replacement or as to which a
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301 determining person elects to use a recommended benchmark
302 replacement before the occurrence of a LIBOR discontinuance
303 event. However, the contract, security, or instrument is subject
304 to subsection (4).
305 (d) The application to a recommended benchmark replacement
306 of any cap, floor, modifier, or spread adjustment to which LIBOR
307 had been subject pursuant to the terms of a contract, security,
308 or instrument.
309 (13) Notwithstanding the Uniform Commercial Code or any
310 other law of this state, and except as otherwise provided in
311 this section, this section applies to all contracts, securities,
312 and instruments, including contracts with respect to commercial
313 transactions, and may not be superseded by any other law of this
314 state.
315 Section 2. This act is remedial in nature and applies
316 retroactively to all contracts, agreements, mortgages, deeds of
317 trust, leases, instruments, obligations, or securities, whether
318 representing debt or equity, and including all interests in a
319 corporation, partnership, or limited liability company, in
320 existence on December 31, 2021.
321 Section 3. This act shall take effect upon becoming a law.
322
323 ================= T I T L E A M E N D M E N T ================
324 And the title is amended as follows:
325 Delete everything before the enacting clause
326 and insert:
327 A bill to be entitled
328 An act relating to benchmark replacements for London
329 Interbank Offered Rate; creating s. 687.15, F.S.;
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330 providing legislative findings and intent and a
331 statement of public interest; providing definitions;
332 requiring that recommended benchmark replacements
333 selected or recommended by specified persons be
334 benchmark replacements on the United States dollar
335 London Interbank Offered Rate (LIBOR) replacement date
336 for certain contracts, securities, and instruments;
337 requiring certain fallback provisions in contracts,
338 securities, and instruments providing specified
339 benchmark replacements to be disregarded and void;
340 authorizing specified persons to select benchmark
341 replacements under certain circumstances; providing
342 requirements for such selection; providing
343 applicability; requiring benchmark replacement
344 conforming changes to become an integral part of
345 contracts, securities, and instruments under certain
346 circumstances; providing construction; providing that
347 a person is not liable for damages and is not subject
348 to claims and requests for equitable relief under
349 certain circumstances; providing applicability;
350 prohibiting other laws from superseding specified
351 provisions; providing that the act is remedial in
352 nature; providing retroactive applicability; providing
353 an effective date.
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Florida Senate - 2022 SB 1246 Florida Senate - 2022 SB 1246
By Senator Gruters
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1 A bill to be entitled 30
2 An act relating to benchmark replacements for London 31 Be It Enacted by the Legislature of the State of Florida:
3 Interbank Offered Rate; creating s. 687.15, F.S.; 32
4 providing legislative findings and intent and a 33 Section 1. Section 687.15, Florida Statutes, is created to
5 statement of public interest; defining terms; 34 read:
6 requiring that recommended benchmark replacements 35 687.15 Benchmark replacements for the London Interbank
7 selected or recommended by specified persons be 36 Offered Rate.—
8 benchmark replacements on the United States dollar 37 (1) The Legislature finds that the discontinuation of the
9 London Interbank Offered Rate (LIBOR) replacement date 38 London Interbank Offered Rate (LIBOR) as a viable interest rate
10 for certain contracts, securities, and instruments; 39 threatens the continued viability of certain contracts,
11 requiring that certain fallback provisions in 40 securities, and instruments and the rights of the parties to
12 contracts, securities, and instruments providing 41 those contracts, securities, or instruments. Furthermore, the
13 specified benchmark replacements be disregarded and 42 threat of unknown and potentially unbounded liability and the
14 void; authorizing specified persons to select 43 viability of contracts, securities, and instruments threatens
15 benchmark replacements under certain circumstances; 44 the state’s economy and has created an overpowering public
16 providing requirements for such selection; providing 45 necessity to provide an immediate and remedial legislative
17 applicability; requiring that benchmark replacement 46 solution. Therefore, the Legislature intends for parties to
18 conforming changes become an integral part of 47 certain contracts, securities, or instruments, as provided in
19 contracts, securities, and instruments under certain 48 this section, to enjoy heightened legal protections as a result
20 circumstances; providing requirements for selections 49 of the discontinuation of LIBOR. The Legislature also finds that
21 or uses of recommended benchmark replacements as 50 there are no alternative means to meet this public necessity.
22 benchmark replacements; providing construction; 51 The Legislature finds that the public interest as a whole is
23 providing that a person is not liable for damages and 52 best served by providing certainty to these contracts,
24 is not subject to claims and requests for equitable 53 securities, and instruments and the parties thereto, so that
25 relief under certain circumstances; providing 54 these contracts, securities, and instruments may remain viable
26 applicability; prohibiting other laws from superseding 55 and continue to be enforceable in the state.
27 specified provisions; providing that the act is 56 (2) As used in this section, the term:
28 remedial in nature; providing retroactive 57 (a) “Benchmark” means an index of interest rates or
29 applicability; providing an effective date. 58 dividend rates that is used, in whole or in part, as the basis
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59 of, or as a reference for, calculating or determining a 88 market practice for substantially similar contracts, securities,
60 valuation, payment, or other measurement under or in respect of 89 or instruments and, to the extent practicable, the manner in
61 a contract, security, or instrument. 90 which the contract, security, or instrument was administered
62 (b) “Benchmark replacement” means a benchmark, an interest 91 immediately before the LIBOR replacement date; and
63 rate, or a dividend rate that may or may not be based, in whole 92 b. Would not result in a disposition of the contract,
64 or in part, on a prior setting of LIBOR, to replace LIBOR or any 93 security, or instrument for federal income tax purposes.
65 interest rate or dividend rate based on LIBOR, whether on a 94 (d) “Calculating person” means, with respect to any
66 temporary, permanent, or indefinite basis, under or in respect 95 contract, security, or instrument, a person responsible for
67 of a contract, security, or instrument. 96 calculating or determining a valuation, payment, or other
68 (c) “Benchmark replacement conforming change” means, with 97 measurement based on a benchmark. This person may be the
69 respect to any type of contract, security, or instrument, a 98 determining person.
70 technical, administrative, or operational change, alteration, or 99 (e) “Contract, security, or instrument” includes, without
71 modification that is associated with and reasonably necessary to 100 limitation, any contract, agreement, mortgage, deed of trust,
72 the use, adoption, calculation, or implementation of a 101 lease, instrument, obligation, or security, whether representing
73 recommended benchmark replacement and that meets the following 102 debt or equity, and including any interest in a corporation,
74 conditions: 103 partnership, or limited liability company.
75 1. The change, alteration, or modification has been 104 (f) “Determining person” means, with respect to any
76 selected or recommended by a relevant recommending body. 105 contract, security, or instrument, the following persons in
77 2. If, in the reasonable judgment of the calculating 106 decreasing order of priority:
78 person, the change, alteration, or modification selected or 107 1. A person so specified.
79 recommended under subparagraph 1. does not apply to the 108 2. A person with the authority, right, or obligation to do
80 contract, security, or instrument or is insufficient to allow 109 any of the following:
81 administration and calculation of the recommended benchmark 110 a. Determine the benchmark replacement that will take
82 replacement, the benchmark replacement conforming change must 111 effect on the LIBOR replacement date.
83 include other changes, alterations, or modifications that, in 112 b. Calculate or determine a valuation, payment, or other
84 the reasonable judgment of the calculating person: 113 measurement based on a benchmark.
85 a. Are necessary to allow administration and calculation of 114 c. Notify other persons of the occurrence of a LIBOR
86 the recommended benchmark replacement under or in respect of the 115 discontinuance event, a LIBOR replacement date, or a benchmark
87 contract, security, or instrument in a manner consistent with 116 replacement.
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117 (g) “Fallback provision” means a term in a contract, 146 LIBOR has ceased or will cease to provide LIBOR permanently or
118 security, or instrument which sets forth a methodology or 147 indefinitely, if, at the time of the statement or publication,
119 procedure for determining a benchmark replacement, including any 148 there is no successor administrator that will continue to
120 term relating to the date on which the benchmark replacement 149 provide LIBOR.
121 becomes effective, without regard to whether a benchmark 150 c. A public statement or publication of information by the
122 replacement can be determined in accordance with the methodology 151 regulatory supervisor for the administrator of LIBOR announcing
123 or procedure. 152 that LIBOR is no longer representative.
124 (h) “LIBOR” means, for purposes of the application of this 153 2. A public statement or publication of information that
125 section to any particular contract, security, or instrument, the 154 affects one or more tenors of LIBOR does not constitute a LIBOR
126 United States dollar LIBOR, formerly known as the London 155 discontinuance event with respect to a contract, security, or
127 Interbank Offered Rate, as administered by ICE Benchmark 156 instrument that:
128 Administration, or any predecessor or successor thereof, or any 157 a. Provides for only one tenor of LIBOR, if the contract,
129 tenor thereof, as applicable, that is used in making any 158 security, or instrument requires interpolation and the tenor can
130 calculation or determination of benchmark rates. 159 be interpolated from LIBOR tenors that are not so affected; or
131 (i)1. “LIBOR discontinuance event” means the earliest to 160 b. Allows a party to choose from more than one tenor of
132 occur of any of the following: 161 LIBOR and any of the tenors is not so affected or, if the
133 a. A public statement or publication of information by, or 162 contract, security, or instrument requires interpolation, can be
134 on behalf of, the administrator of LIBOR announcing that the 163 interpolated from LIBOR tenors that are not so affected.
135 administrator has ceased or will cease to provide LIBOR 164 (j)1. “LIBOR replacement date” means:
136 permanently or indefinitely, if, at the time of the statement or 165 a. In the case of a LIBOR discontinuance event described in
137 publication, there is no successor administrator that will 166 sub-subparagraph (i)1.a. or sub-subparagraph (i)1.b., the later
138 continue to provide LIBOR. 167 of:
139 b. A public statement or publication of information by the 168 (I) The date of the public statement or publication of
140 regulatory supervisor for the administrator of LIBOR, the 169 information referenced in sub-subparagraph (i)1.a. or sub-
141 Federal Reserve System, an insolvency official with jurisdiction 170 subparagraph (i)1.b.; or
142 over the administrator of LIBOR, a resolution authority with 171 (II) The date on which the administrator of LIBOR
143 jurisdiction over the administrator of LIBOR, or a court or an 172 permanently or indefinitely ceases to provide LIBOR.
144 entity with similar insolvency or resolution authority over the 173 b. In the case of a LIBOR discontinuance event described in
145 administrator of LIBOR, announcing that the administrator of 174 sub-subparagraph (i)1.c., the date of the public statement or
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175 publication of information referenced in sub-subparagraph 204 Reference Rates Committee, or a successor to any of them.
176 (i)1.c. 205 (n) “SOFR” means, with respect to any day, the secured
177 2. A date that affects one or more tenors of LIBOR does not 206 overnight financing rate published for the day by the Federal
178 constitute a LIBOR replacement date with respect to a contract, 207 Reserve Bank of New York as the administrator of the benchmark,
179 security, or instrument that: 208 or a successor administrator, on the Federal Reserve Bank of New
180 a. Provides for only one tenor of LIBOR, if the contract, 209 York’s website.
181 security, or instrument requires interpolation and the tenor can 210 (3) On the LIBOR replacement date, the recommended
182 be interpolated from LIBOR tenors that are not so affected; or 211 benchmark replacement, by operation of law, shall be the
183 b. Allows a party to choose from more than one tenor of 212 benchmark replacement for a contract, security, or instrument
184 LIBOR and any of the tenors is not so affected or, if the 213 that uses LIBOR as a benchmark and that:
185 contract, security, or instrument requires interpolation, can be 214 (a) Does not contain a fallback provision; or
186 interpolated from LIBOR tenors that are not so affected. 215 (b) Contains fallback provisions resulting in a benchmark
187 (k) “Recommended benchmark replacement” means, with respect 216 replacement, other than a recommended benchmark replacement,
188 to any particular type of contract, security, or instrument, a 217 that is based in any way on a LIBOR value.
189 benchmark replacement based on SOFR that must include any 218 (4) After the occurrence of a LIBOR discontinuance event,
190 recommended spread adjustment and any benchmark replacement 219 any fallback provisions in a contract, security, or instrument
191 conforming change that have been selected or recommended by a 220 which provide for a benchmark replacement based on or otherwise
192 relevant recommending body with respect to the type of contract, 221 involving a poll, survey, or inquiry for quotes or information
193 security, or instrument. 222 concerning interbank lending rates or any interest rate or
194 (l) “Recommended spread adjustment” means a spread 223 dividend rate based on LIBOR shall be void and of no force or
195 adjustment, or method for calculating or determining the spread 224 effect.
196 adjustment, which has been selected or recommended by a relevant 225 (5)(a) A determining person may, but is not required to,
197 recommending body for a recommended benchmark replacement for a 226 select the recommended benchmark replacement as the benchmark
198 particular type of contract, security, or instrument and for a 227 replacement after the occurrence of a LIBOR discontinuance
199 particular term to account for the effects of the transition or 228 event. The selection of the recommended benchmark replacement
200 change from LIBOR to a recommended benchmark replacement. This 229 must be:
201 term may be a positive or negative value or zero. 230 1. Irrevocable;
202 (m) “Relevant recommending body” means the Federal Reserve 231 2. Made by the earlier of the LIBOR replacement date or the
203 Board, the Federal Reserve Bank of New York, the Alternative 232 latest date for selecting a benchmark replacement according to
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233 the contract, security, or instrument; and 262 a contract, security, or instrument.
234 3. Used in any determination of the benchmark under or with 263 (8) A LIBOR discontinuance event, a LIBOR replacement date,
235 respect to the contract, security, or instrument occurring on 264 the selection or use of a recommended benchmark replacement as a
236 and after the LIBOR replacement date. 265 benchmark replacement, or the determination, implementation, or
237 (b) Paragraph (a) applies to a contract, security, or 266 performance of a benchmark replacement conforming change, in
238 instrument that uses LIBOR as a benchmark and that contains 267 each case, by operation of this section, may not:
239 fallback provisions allowing or requiring the selection of a 268 (a) Be deemed to impair or affect the right of any person
240 benchmark replacement that is: 269 to receive a payment, or affect the amount or timing of the
241 1. Based in any way on a LIBOR value; or 270 payment, under a contract, security, or instrument;
242 2. The substantive equivalent of paragraph (7)(a), 271 (b) Have the effect of discharging or excusing performance
243 paragraph (7)(b), or paragraph (7)(c). 272 under a contract, security, or instrument for any reason, claim,
244 (6) If a recommended benchmark replacement becomes the 273 or defense, including, but not limited to, any force majeure or
245 benchmark replacement for a contract, security, or instrument 274 other provision in a contract, security, or instrument;
246 under this section, then all benchmark replacement conforming 275 (c) Have the effect of giving any person the right to
247 changes that are applicable to the recommended benchmark 276 unilaterally terminate or suspend performance under a contract,
248 replacement must become an integral part of the contract, 277 security, or instrument;
249 security, or instrument by operation of law. 278 (d) Have the effect of constituting a breach of a contract,
250 (7) The selection or use of a recommended benchmark 279 security, or instrument; or
251 replacement as a benchmark replacement under or in respect of a 280 (e) Have the effect of voiding or nullifying a contract,
252 contract, security, or instrument by operation of this section 281 security, or instrument.
253 must constitute all of the following: 282 (9) A person is not liable for damages to any other person,
254 (a) A commercially reasonable replacement for and a 283 and is not subject to any claim or request for equitable relief,
255 commercially substantial equivalent to LIBOR. 284 arising out of or related to the selection or use of a
256 (b) A reasonable, comparable, or analogous term for LIBOR 285 recommended benchmark replacement or the determination,
257 under or in respect of the contract, security, or instrument. 286 implementation, or performance of a benchmark replacement
258 (c) A replacement that is based on a methodology or 287 conforming change, in each case, by operation of this section.
259 information that is similar or comparable to LIBOR. 288 The selection or use of the recommended benchmark replacement or
260 (d) Substantial performance by any person of any right or 289 the determination, implementation, or performance of a benchmark
261 obligation relating to or based on LIBOR under or in respect of 290 replacement conforming change may not give rise to any claim or
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291 cause of action by any person in law or in equity. 320 required to amend the terms and provisions of a contract,
292 (10) The selection or use of a recommended benchmark 321 security, or instrument that would otherwise be altered or
293 replacement or the determination, implementation, or performance 322 affected by this section.
294 of a benchmark replacement conforming change, by operation of 323 (b) A contract, security, or instrument that contains
295 this section, may not be deemed to: 324 fallback provisions that would result in a benchmark replacement
296 (a) Be an amendment or modification of a contract, 325 that is not based on LIBOR, including, but not limited to, the
297 security, or instrument. 326 prime rate or the federal funds rate. However, the contract,
298 (b) Prejudice, impair, or affect a person’s rights, 327 security, or instrument is subject to subsection (4).
299 interests, or obligations under or in respect of a contract, 328 (c) A contract, security, or instrument subject to
300 security, or instrument. 329 subsection (5) as to which a determining person does not elect
301 (11) Except as provided in subsection (3) or subsection 330 to use a recommended benchmark replacement or as to which a
302 (5), this section may not be interpreted as creating a negative 331 determining person elects to use a recommended benchmark
303 inference or negative presumption regarding the validity or 332 replacement before the occurrence of a LIBOR discontinuance
304 enforceability of any of the following: 333 event. However, the contract, security, or instrument is subject
305 (a) A benchmark replacement that is not a recommended 334 to subsection (4).
306 replacement benchmark. 335 (d) The application to a recommended benchmark replacement
307 (b) A spread adjustment, or method for calculating or 336 of any cap, floor, modifier, or spread adjustment to which LIBOR
308 determining a spread adjustment, which is not a recommended 337 had been subject pursuant to the terms of a contract, security,
309 spread adjustment. 338 or instrument.
310 (c) A change, alteration, or modification to or in respect 339 (13) Notwithstanding the Uniform Commercial Code or any
311 of a contract, security, or instrument which is not a benchmark 340 other law of this state, and except as otherwise provided in
312 replacement conforming change. 341 this section, this section applies to all contracts, securities,
313 (12) This section does not alter or impair any of the 342 and instruments, including contracts with respect to commercial
314 following: 343 transactions, and may not be superseded by any other law of this
315 (a) A written agreement by all requisite parties which, 344 state.
316 retrospectively or prospectively, provides that a contract, 345 Section 2. This act is remedial in nature and applies
317 security, or instrument is not subject to this section without 346 retroactively to all contracts, agreements, mortgages, deeds of
318 necessarily referring specifically to this section. As used in 347 trust, leases, instruments, obligations, or securities, whether
319 this paragraph, the term “requisite parties” means all parties 348 representing debt or equity, and including all interests in a
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349 corporation, partnership, or limited liability company, in
350 existence on December 31, 2021.
351 Section 3. This act shall take effect upon becoming a law.
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The Florida Senate
BILL ANALYSIS AND FISCAL IMPACT STATEMENT
(This document is based on the provisions contained in the legislation as of the latest date listed below.)
Prepared By: The Professional Staff of the Committee on Commerce and Tourism
BILL: SB 1316
INTRODUCER: Senator Hooper
SUBJECT: Resale of Tickets
DATE: February 4, 2022 REVISED:
ANALYST STAFF DIRECTOR REFERENCE ACTION
1. McMillan McKay CM Favorable
2. JU
3. RC
I. Summary:
SB 1316 requires any person or entity who offers specified nontransferable tickets for sale to
also offer the ticket in a transferrable format. The bill does not address whether a ticket seller can
charge an additional fee, or higher price for a transferrable ticket versus a nontransferable ticket.
The bill takes effect on July 1, 2022.
II. Present Situation:
Pricing of Resold Admission Tickets
The resale pricing of certain tickets is governed by Florida law. Section 817.36, F.S., provides
that a person or entity that offers for resale or resells any ticket (with the exception of travel
agencies under certain conditions1) may charge only $1.00 above the admission price charged by
the original ticket seller, for the following:
Passage or accommodations on any common carrier in this state;
Multiday or multievent tickets to a park or entertainment complex, or to a concert,
entertainment event, permanent exhibition, or recreational activity within such a park or
complex, including an entertainment/resort complex;2 and
1
To qualify for this exception, travel agencies must have an established place of business in Florida and pay state, county,
and city occupational license taxes. See s. 817.36(1)(a), F.S.
2
An “Entertainment/resort complex” means a theme park comprised of at least 25 acres of land with permanent exhibitions
and a variety of recreational activities, which has at least 1 million visitors annually who pay admission fees thereto, together
with any lodging, dining, and recreational facilities located adjacent to, contiguous to, or in close proximity to the theme
park, as long as the owner(s)/operators(s) of the theme park, or a parent or related company or subsidiary thereof, has an
equity interest in the lodging, dining, or recreational facilities or is in privity therewith. Close proximity shall include an area
within a 5-mile radius of the theme park complex. See s. 561.01(18), F.S.
BILL: SB 1316 Page 2
Event tickets originally issued by a tax-exempt charitable organization, when no more than
3,000 tickets are issued per performance. The following must be conspicuously printed on
the face or back of each such ticket: “Pursuant to s. 817.36, Florida Statutes, this ticket may
not be resold for more than $1 over the original admission price.” This provision does not
apply to tickets issued or sold by a third party ticketing service on behalf of a charitable
organization, unless the statement is on the ticket.
The limitation of an additional $1.00 above the original price of a ticket also applies to any
tickets that are resold or offered through an Internet website (except those described above),
unless the website:
Is authorized by the original ticket seller; or
Makes and posts the following guarantees and disclosures through Internet web pages, or
links to web pages, in text to which a prospective purchaser is directed before completion of
the resale transaction:
o The website operator guarantees a full refund of the ticket price including any servicing,
handling, or processing fees, if such fees are not disclosed, when:
o The ticketed event is canceled;
o The purchaser is denied admission to the ticketed event, unless such denial is due to the
action or omission of the purchaser;
o The ticket is not delivered to the purchaser as requested and pursuant to delivery
guarantees made by the reseller and such failure results in the purchaser’s being unable to
attend the event; and
o The website operator discloses that it is not the issuer, original seller, or reseller of the
ticket and does not control the pricing of the ticket, which may be resold for more than its
original value.
Individual or entities are not authorized to sell or purchase tickets at any price on property where
an event is being held (i.e., outside a stadium) without the prior express written consent of the
owner of the property.3
Sales tax is due on resold tickets.4
A person who knowingly resells a ticket or tickets in violation of the requirements in s. 817.36,
F.S., is liable to the state for a civil penalty equal to three times the amount of the price for which
the ticket or tickets were resold.5
Persons who intentionally use or sell software to circumvent a security measure, an access
control system, or any other control or measure on a ticket seller’s Internet website which is used
to ensure an equitable ticket-buying process, is liable to the state for a civil penalty equal to three
times the amount for which any ticket was sold.6
3
See s. 817.36(2), F.S.
4
See s. 817.36(3), F.S.
5
See s. 817.36(4), F.S.
6
Id. Section 817.36(5), F.S. See also s. 817.36(6), F.S., which defines the term “software” as “computer programs that are
primarily designed or produced for the purpose of interfering with the operation of any person or entity that sells, over the
Internet, tickets of admission to a sporting event, theater, musical performance, or place of public entertainment or
amusement of any kind.” Similar federal legislation was enacted in 2016 to prohibit circumvention of ticket website security
BILL: SB 1316 Page 3
Purchasers and resellers of tickets may also be subject to civil penalties under the Florida
Deceptive and Unfair Trade Practices Act (FDUTPA).7 In the absence of a contract with the
original ticket seller to distribute or sell tickets, a person who knowingly purchases from the
original ticket seller, with the intent of resale, a quantity of event tickets which exceeds the
posted8 maximum ticket limit per purchaser, violates FDUTPA.9
Effect of Proposed Changes:
The bill requires any person or entity who offers nontransferable tickets for sale to also offer the
ticket in a transferrable format.10 The bill does not address whether a ticket seller can charge an
additional fee, or higher price for a transferrable ticket versus a nontransferable ticket.
The bill defines “nontransferable ticket” as a ticket that may not be given away or resold in a
method of the ticketholder’s choosing, or requires the ticketholder and the purchaser to facilitate
the exchange exclusively through an application program by the original ticket seller.
The bill provides that the original ticket seller may not penalize, discriminate against, or deny
access to an event to a person who purchases or resells a ticket in a manner authorized.
The bill takes effect on July 1, 2022.
III. Constitutional Issues:
A. Municipality/County Mandates Restrictions:
None.
B. Public Records/Open Meetings Issues:
None.
C. Trust Funds Restrictions:
None.
D. State Tax or Fee Increases:
None.
or control measures and the subsequent sale of the fraudulently obtained tickets by someone who knew or should have known
about the violation. See The Better Online Ticket Sales Act, at 15 U.S.C. s. 45c.
7
See part II of ch. 501, F.S., relating to consumer protection (ss. 501.201-501.213, F.S.).
8
Posting of a quantity limit occurs at the point of original sale or is printed on the tickets by or on behalf of the original ticket
seller. See s. 817.357, F.S.
9
See s. 817.357, F.S.
10
The bill provides an exception for passage or accommodations on any common carrier in Florida, multiday or multievent
tickets to a park or entertainment complex or to a concert, entertainment event, permanent exhibition, or recreational activity,
and event tickets originally issued by a charitable organization exempt from taxation under s. 501(c)(3) or the Internal
Revenue Code for which no more than 3,000 tickets are issued per performance.
BILL: SB 1316 Page 4
E. Other Constitutional Issues:
None Identified.
IV. Fiscal Impact Statement:
A. Tax/Fee Issues:
None.
B. Private Sector Impact:
None.
C. Government Sector Impact:
None.
V. Technical Deficiencies:
None.
VI. Related Issues:
None.
VII. Statutes Affected:
This bill substantially amends section 817.36 of the Florida Statutes.
VIII. Additional Information:
A. Committee Substitute – Statement of Changes:
(Summarizing differences between the Committee Substitute and the prior version of the bill.)
None.
B. Amendments:
None.
This Senate Bill Analysis does not reflect the intent or official position of the bill’s introducer or the Florida Senate.
Florida Senate - 2022 SB 1316 Florida Senate - 2022 SB 1316
By Senator Hooper
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1 A bill to be entitled 30 program operated by the original ticket seller.
2 An act relating to resale of tickets; amending s. 31 (8) The original ticket seller may not penalize,
3 817.36, F.S.; providing that certain tickets may be 32 discriminate against, or deny access to an event to a person who
4 sold as nontransferable tickets only under certain 33 purchases or resells a ticket in a manner authorized by this
5 circumstances; providing exceptions; defining the term 34 section.
6 “nontransferable ticket”; prohibiting the original 35 Section 2. This act shall take effect July 1, 2022.
7 ticket seller from taking certain actions against a
8 person who purchases or resells a ticket; providing an
9 effective date.
10
11 Be It Enacted by the Legislature of the State of Florida:
12
13 Section 1. Present subsections (1) through (5) of section
14 817.36, Florida Statutes, are redesignated as subsections (2)
15 through (6), respectively, present subsection (6) of that
16 section is redesignated as new subsection (1), and subsections
17 (7) and (8) are added to that section, to read:
18 817.36 Resale of tickets.—
19 (7) Other than a ticket identified in paragraph (2)(a),
20 paragraph (2)(b), or paragraph (2)(c), any ticket may be sold as
21 a nontransferable ticket only if, at the time of sale, the
22 original ticket seller offers the option, prominently displayed,
23 to purchase the same ticket with no limit on transferability. As
24 used in this subsection, the term “nontransferable ticket” means
25 a ticket that:
26 (a) May not be given away or resold in a method of the
27 ticketholder’s choosing; or
28 (b) Requires the ticketholder and the purchaser to
29 facilitate the exchange exclusively through an application
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CourtSmart Tag Report
Room: SB 110 Case No.: Type:
Caption: Senate Commerce and Tourism Committee Judge:
Started: 2/7/2022 2:32:51 PM
Ends: 2/7/2022 4:07:28 PM Length: 01:34:38
2:33:13 PM A quorum is present
2:33:33 PM Tabs 6-8 are for appointees
2:34:01 PM we let them know that they were not required to be present
2:34:13 PM we'll take up 1 vote for all 3 appointees as part of the Board of Directors of Enterprise Fla, Inc.
2:34:25 PM any debate on Rodney Cruise, Sonya Deen Hartley, or Scott Ross?
2:34:26 PM Is there anyone in the audience wishing to speak on any of the appointees?
2:34:33 PM Is there any debate?
2:34:41 PM Vice Chair is recognized to speak
2:34:41 PM Sen. Wright mentions that Rodney Cruise is part of his constituency
2:34:56 PM Seeing none, Sen. Wright moves on all 3 appointees
2:35:13 PM Please call the roll
2:35:27 PM Confirmation of all 3 is recommended favorably
2:35:42 PM Tab 1 is SB 940 by Sen. Baxley
2:36:40 PM questions of sponsor?
2:36:45 PM seeing none, Chris Childers of BNI Engineers speaks in favor of the bill
2:37:39 PM is there debate?
2:37:44 PM Sen. Pizzo has a question for Mr. Childers
2:38:24 PM additional debate?
2:38:30 PM Sen. Baxley is recognized to close
2:38:54 PM SB 940 is favorable
2:39:28 PM Sen. Baxley introduces CS/SB 942
2:39:37 PM Sen. Baxley closes after no questions, appearance cards, or debate
2:39:46 PM CS/SB 942 is reported favorably
2:40:00 PM tab 3, SB 1018, is being presented by Sen. Hutson for Sen. Burgess
2:40:59 PM there is a strike all - barcode 902328
2:41:11 PM Sen. Hutson explains amendment
2:41:25 PM Sen. Pizzo has a question on strike all
2:41:54 PM Sen. Hutson answers
2:42:14 PM follow up from Pizzo
2:42:39 PM Sen. Hutson responds
2:43:03 PM he has a follow up to his answer
2:43:13 PM follow up question from Pizzo
2:43:21 PM follow up from Pizzo
2:43:58 PM Jessie Hamsen, analyst on this bill, helps explain
2:45:40 PM any other questions on the strike all amendment?
2:45:51 PM there are none
2:45:59 PM amendment is adopted - back on bill as amended
2:46:11 PM are there questions on the bill as amended?
2:46:12 PM appearance cards
2:46:27 PM John Gaspar speaks in favor of bill
2:49:02 PM Sen. Pizzo has a question for Mr. Gaspar
2:50:14 PM Mr. Gaspar attempts to clear up what Sen. Pizzo asked
2:51:02 PM Sen. Pizzo has a follow up
2:52:02 PM Mr. Childers responds
2:52:28 PM next up is Mr. Ari Morse speaking in favor of bill
2:54:34 PM Sen. Pizzo has a question
2:55:11 PM Mr. Morse responds
2:55:43 PM follow up from Pizzo
2:56:14 PM Sen. Hutson answers
2:56:14 PM
2:56:25 PM Sen. Pizzo has another question
2:56:58 PM Mr. Morse responds
2:57:20 PM Sen. Pizzo has final question
2:57:51 PM Sen. Powell has a question
2:58:24 PM Mr. Morse responds
2:58:42 PM next is Mr. Barney Bishop III representing the Fla. Assn. of Private Investigators
3:03:17 PM Sen. Pizzo has a question
3:03:32 PM Mr. Bishop answers
3:03:42 PM follow up from Pizzo
3:04:01 PM Mr. Bishop answers
3:04:33 PM Sen. Pizzo asks if there's someone from DACS to speak
3:04:50 PM Mr. John Raymaker comes forward to speak
3:05:12 PM Sen. Pizzo addresses Mr. Raymaker
3:05:29 PM Mr. Raymaker explains
3:05:52 PM follow up from Pizzo
3:06:16 PM Mr. Raymaker speaks
3:06:40 PM another question from Sen. Pizzo
3:07:21 PM Mr. Raymaker answers question
3:07:56 PM Sen. Pizzo has another question
3:08:33 PM Mr. Raymaker responds
3:09:00 PM final question from Pizzo
3:09:11 PM Mr. Raymaker explains the class G license
3:09:33 PM Sen. Torres in debate
3:11:07 PM add'l debate from Sen. Pizzo
3:11:46 PM Chair Hooper mentions next stop is Judiciary
3:12:00 PM Sen. Taddeo in debate
3:12:22 PM Sen. Hutson closes for Sen. Burgess
3:13:03 PM CS/SB 1018 is reported favorably
3:13:40 PM Sen. Gruters is here to introduce SB 1246
3:14:25 PM strike all barcode 235134 is explained by Gruters
3:14:51 PM Sen. Powell has a question the amendment
3:15:02 PM Sen. Gruters explains
3:15:39 PM follow up from Sen. Powell
3:15:52 PM Sen. Gruters responds
3:16:19 PM 1 appearance card from Anthony DiMarco, waiving in support
3:16:35 PM no debate
3:16:37 PM Gruters waives close on the amendment
3:16:46 PM amendment is adopted - back on bill as amended
3:16:57 PM Sen. Gruters closes
3:17:05 PM CS/SB 1246 is reported favorably
3:17:34 PM Vice chair Wright takes over gavel
3:17:43 PM Sen. Hooper introduces SB 1316
3:19:55 PM any questions?
3:20:04 PM Sen. Pizzo has a question
3:20:04 PM
3:20:19 PM Sen. Hooper explains answer
3:21:03 PM follow up from Sen. Pizzo
3:22:04 PM Sen. Hooper answers
3:23:45 PM Sen. Hutson has some questions
3:24:41 PM Sen. Hooper answers
3:24:48 PM Sen. Hutson asks another question
3:24:55 PM Sen. Hooper answers
3:25:32 PM Sen. Hutson asks follow up question
3:25:45 PM Sen. Hooper answers
3:26:45 PM 1 more question from Sen. Hutson
3:27:07 PM Sen. Hooper answers
3:27:07 PM 1 more question from Sen. Hutson
3:27:22 PM final question from Sen. Hutson
3:27:30 PM Sen. Hooper answers
3:27:49 PM Sen. Powell has a question
3:28:53 PM Sen. Hooper answers
3:31:15 PM follow up from Powell
3:31:52 PM Sen. Hooper responds
3:32:09 PM Sen. Taddeo has a question
3:32:43 PM Sen. Hooper responds
3:32:56 PM 1 more question from Sen. Taddeo
3:33:15 PM Sen. Hooper answers
3:34:06 PM There's no other questions; there is testimony
3:34:12 PM Ms. Laura Dooley w/ Stub Hub would like to speak in favor
3:38:37 PM question from Sen. Pizzo
3:38:55 PM Ms. Dooley anwers
3:39:42 PM follow up from Sen. Pizzo
3:39:52 PM Ms. Dooley answers
3:40:05 PM Sen. Pizzo
3:40:34 PM Ms. Dooley
3:40:52 PM Sen. Pizzo
3:40:59 PM Ms. Dooley
3:41:31 PM Sen. Pizzo
3:42:04 PM Ms. Dooley
3:42:09 PM Sen. Pizzo has a follow up
3:42:43 PM Ms. Dooley
3:42:53 PM Sen. Pizzo
3:42:57 PM Ms. Dooley
3:43:10 PM Sen. Hutson has a question
3:43:53 PM Ms. Dooley responds
3:44:51 PM we need to limit to 5 minutes per speaker since there are many cards
3:45:04 PM Mr. Bruce Morris, who represents Ticket Network, speaks in favor
3:48:28 PM Sen. Pizzo has a question of Mr. Morris, who used to be a member of the Conn. legislature
3:48:43 PM Mr. Morris responds
3:49:15 PM Sen. Pizzo asks about the Connecticut bill
3:49:42 PM Mr. Morris responds
3:49:49 PM Mr. Carl Szabo, VP of Net Choice, speaks in favor
3:52:10 PM Sen. Pizzo interrupts to ask that Mr. Szabo explain what Net Choice does
3:52:45 PM Mr. Szabo explains they want to knock down barriers to commerce
3:53:19 PM Sen. Pizzo asks a question
3:53:36 PM Mr. Szabo responds
3:54:00 PM Sen. Pizzo asks another question
3:54:13 PM Mr. Szabo
3:54:19 PM Sen. Pizzo
3:54:22 PM Mr. Szabo
3:54:29 PM Sen. Wright mentions we're almost out of time
3:55:18 PM Mr. Szabo closes out his testimony
3:55:42 PM Mr. Earl Ash represents...speaks in favor
3:57:20 PM no questions
3:57:36 PM Michael O'Neil waives in support
3:57:51 PM Mr. Sal Nuzzo waives in support
3:58:06 PM Chris Van De Hoff waives in support
3:58:22 PM any debate?
3:58:27 PM Sen. Pizzo speaks in debate
4:00:11 PM
4:00:13 PM Sen. Diaz in debate
4:00:36 PM Sen. Powell in debate
4:01:23 PM Sen. Hutson in debate
4:02:29 PM Sen. Taddeo in debate
4:03:21 PM Sen. Torres is recognized to debate
4:03:47 PM Sen. Hooper closes on bill
4:05:50 PM roll call on SB 1316
4:05:56 PM SB 1316 is reported favorably
4:06:15 PM chair is yielded back to Chair Hooper
4:06:25 PM Sen. Gruters wants to be recorded as a yes vote on tabs 1, 2, & 6-8
4:06:35 PM Sen. Pizzo recognizes a couple of attorneys from his district in the audience
4:07:08 PM Sen. Hooper welcomes them to the Committee
4:07:14 PM Vice Chair Wright moves we adjourn
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