• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • About
  • Advertise
  • Submit News
  • Contact Us

Capital Soup

Florida News Straight From the Source

  • Featured
  • Leaders
  • Government
  • Industry
  • Education
  • Opinion
You are here: Home / Featured / Senators Gainer, Broxson, and Montford File Legislation to Keep BP Oil Funds in Northwest Florida

Senators Gainer, Broxson, and Montford File Legislation to Keep BP Oil Funds in Northwest Florida

Posted on January 12, 2017

Senator George Gainer (R-Panama City), Senator Doug Broxson (R-Pensacola), and Senator Bill Montford (D-Tallahassee) today filed Senate Bill 364, The Recovery Fund for the Deepwater Horizon Incident, to ensure funds received in the settlement of the state’s economic damage claims caused by the 2010 Deepwater Horizon Oil Spill remain in Northwest Florida’s eight disproportionately affected counties.
“These funds represent a tremendous opportunity to make long-term investments in Northwest Florida’s economy. By sending settlement funds directly to Triumph Gulf Coast, Inc., we can ensure they are allocated in a transparent and accountable manner,” said Senator Gainer.
Under current law, the eight disproportionately affected counties are to receive 75 percent of all economic damage settlement funds received by the state. Senate Bill 364 clarifies that funds are to be directly appropriated to Triumph Gulf Coast Inc. no later than 30 days after they are received by the state.
“By clarifying the requirements under current law, this legislation ensures a smooth transfer of funds to Triumph Gulf Coast, Inc., not only for the funds the state recently received, but also for any future settlement payments,” said Senator Broxson.
The eight Florida counties disproportionately affected by the Deepwater Horizon Spill include: Bay County, Escambia County, Franklin County, Gulf County, Okaloosa County, Santa Rosa County, Walton County and Wakulla County.
“Nearly seven years after the spill began, on a daily basis, we are still hearing from constituents whose families and businesses were drastically impacted,” said Senator Montford. “This legislation affirms our longstanding commitment to keep these critical funds in Northwest Florida to provide for the ongoing economic recovery of our region.”
During the 2013 Legislative Session, under the leadership of then-Senate President Don Gaetz (R-Niceville) the Florida Senate developed legislation (Senate Bill 1024) sponsored by current Senate President Joe Negron (R-Stuart), which created Triumph Gulf Coast, Inc. to ensure that economic damage settlement funds coming to the state would both benefit the eight disproportionately affected counties and be properly accounted for. Under this legislation, the five-member Triumph Gulf Coast board, chaired by former Florida House Speaker Allen Bense, is responsible for utilizing the settlement proceeds to promote job creation through lasting economic development over a period of thirty years.
Triumph Gulf Coast, Inc. is tasked to work with local governments to make awards to programs and projects that meet the priorities for economic recovery, diversification, and enhancement of the disproportionately affected counties. This includes economic development projects, grants to support programs of excellence that prepare students for future occupations, as well as infrastructure projects.
The corporation is required to abide by the state’s public record laws and public meeting notice requirements. The Speaker of the House of Representatives, the President of the Senate, the Governor, the Attorney General, and the Chief Financial Officer each appoint one board member. The governing board will be responsible for evaluating the economic benefits provided by each proposed project and will approve or decline funding.

Share this article! Share on FacebookShare on Twitter

Filed Under: Featured Tagged With: BP, legislation, northwest Florida, Oil Funds, Sen. Bill Montford, Sen. Doug Broxson, Sen. George Gainer

Primary Sidebar

    Submit News    

Florida Democratic Party Launches “Defend Our Dems” Program

Tallahassee, FL — Today, the Florida Democratic Party is proud to launch the “Defend Our Dems” program, an … [Read More...] about Florida Democratic Party Launches “Defend Our Dems” Program

House Democratic Leader Fentrice Driskell, Representatives Kelly Skidmore and Allison Tant Request FLDOE to Release Critical Data

TALLAHASSEE, Fla. – Earlier today, House Democratic Leader Fentrice Driskell (D–Tampa), Representative Kelly … [Read More...] about House Democratic Leader Fentrice Driskell, Representatives Kelly Skidmore and Allison Tant Request FLDOE to Release Critical Data

Florida Department of Juvenile Justice and Pinellas Technical College Host Signing Day Event for Students

  St. Petersburg, Fla. – The Florida Department of Juvenile Justice (DJJ) joined together with Pinellas … [Read More...] about Florida Department of Juvenile Justice and Pinellas Technical College Host Signing Day Event for Students

Keep in Touch

  • Email
  • Facebook
  • Twitter

Footer

News

  • Featured
  • Leaders
  • Government
  • Industry
  • Education
  • Opinion

About Us 

  • About
  • Advertise
  • Submit News
  • Contact Us

Keep in Touch

  • Email
  • Facebook
  • Twitter

Copyright © 2021
Terms & Conditions

© Copyright 2025 Capital Soup · All Rights Reserved ·