288.9611  Capital development board; creation, purpose, membership.--

(1)  There is created within the nonprofit corporate structure of Enterprise Florida, Inc., a nonprofit public-private board the purpose of which shall be to create a Florida economy characterized by better employment opportunities leading to higher wages by building access to financial markets for firms critical to this mission. The board shall be comprised of members from the private and public sectors of Florida and shall use leadership, investment, and changes in public policy in formulating recommendations to ensure access to the most appropriate forms of finance for such firms on a scale sufficient to achieve the purpose of this board.

(2)  The capital development board shall be governed by a board of directors. The board of directors shall consist of the following members:

(a)  A member of the Senate, who shall be appointed by the President of the Senate as an ex officio member of the board and serve at the pleasure of the President.

(b)  A member of the House of Representatives, who shall be appointed by the Speaker of the House of Representatives as an ex officio member of the board and serve at the pleasure of the Speaker.

(c)  Nine to 11 members from the public and private sector consisting of, but not limited to, at least three representatives of the commercial banking industry, a representative of the venture capital industry, an economic development professional, and a manufacturing industry representative, who shall be appointed by the Governor from a list of nominees as provided herein, subject to Senate confirmation.

(3)  Members appointed by the Governor shall be appointed for terms of 4 years, except that in making the initial appointments, the Governor shall appoint three members for terms of 4 years, three members for terms of 3 years, and three members for terms of 2 years.

(4)  The chair and vice chair of Enterprise Florida, Inc., shall jointly select a list of nominees for appointment to the board of directors from a slate of candidates submitted by Enterprise Florida, Inc. The chair and vice chair of Enterprise Florida, Inc., may request that additional candidates be submitted by Enterprise Florida, Inc., if the chair and vice chair cannot agree on a list of nominees submitted. Appointments to the board of directors shall be made by the Governor from the list of nominees jointly selected by the chair and vice chair of Enterprise Florida, Inc. Appointees shall represent all geographic regions of the state, including both urban and rural regions. The importance of minority and gender representation shall be considered when making nominations for each position on the board of directors.

(5)  The Governor shall appoint the initial 9 to 11 members from the public and private sector to the board of directors within 30 days after receipt of the list of nominees from the chair and vice chair of Enterprise Florida, Inc.

(6)  A vacancy on the board of directors shall be filled for the remainder of the unexpired term.

(7)  Appointive members may be removed by the Governor for cause. Absence from three consecutive meetings results in automatic removal.