Vote Smart's Synopsis:

Vote to pass a bill that would allow the Board of Trustees of the Internal Improvement Trust Fund to accept bids from corporations to extract oil and natural gas at least 3 miles from shore.

Highlights:

-Provides 90 days after the publication of the initial lease offer for the submission of competing bids, and requires a $1 million nonrefundable fee for submitting a bid (Sec.1). -Requires that companies making bids for land be headquartered in the United States, and that all extracted oil or gas be refined and sold within the United States (Sec.1) -Allocates money from leases and other financial exchanges to the state to the Florida Forever land acquisition program, beach restoration/nourishment projects, the Florida Energy and Climate Commission, alternative energy research in universities, environmental science classes in elementary and middle school, oil/gas training academies, veterans programs, and the Florida Renewable Energy Production Credit (Sec.3). -Reps. Abruzzo, Aubuchon, Nehr, Robaina, and Schultz voted 'nay' after the roll call. -Rep. Tom Anderson is not listed on our vote breakdown because his vote did not accurately reflect his intentions; he initially voted 'yea' but changed his vote to 'nay' after the roll call. -Committee Substitute bill was offered by the Policy Council.

Full Bill Text