Florida § 288.80125 Triumph Gulf Coast Trust Fund

Florida Statutes

§ 288.80125 — Triumph Gulf Coast Trust Fund

Florida § 288.80125

TitleXIX

Ch. 288COMMERCIAL DEVELOPMENT AND CAPITAL IMPROVEMENTS

This text of Florida § 288.80125 (Triumph Gulf Coast Trust Fund) is published on Counsel Stack Legal Research, covering Florida primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Fla. Stat. § 288.80125 (2026).

Text

(1)The Triumph Gulf Coast Trust Fund is created within the department. The trust fund is established as a depository for funds transferred, as set forth in s. 288.8013, from the General Revenue Fund pursuant to the “Settlement Agreement Between the Gulf States and the BP Entities with Respect to Economic and Other Claims Arising from the Deepwater Horizon Incident,” which was entered into on October 5, 2015, in the case styled In re: Oil Spill by the Oil Rig “Deepwater Horizon” in the Gulf of Mexico, on April 20, 2010 , MDL 2179 in the United States District Court for the Eastern District of Louisiana. The trust fund is exempt from the general revenue service charge provided in s. 215.20.

(2)Funds from the trust fund shall be used for the purposes described in ss. 288.8011-288.8018. 1

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(1) The Triumph Gulf Coast Trust Fund is created within the department. The trust fund is established as a depository for funds transferred, as set forth in s. 288.8013, from the General Revenue Fund pursuant to the “Settlement Agreement Between the Gulf States and the BP Entities with Respect to Economic and Other Claims Arising from the Deepwater Horizon Incident,” which was entered into on October 5, 2015, in the case styled In re: Oil Spill by the Oil Rig “Deepwater Horizon” in the Gulf of Mexico, on April 20, 2010 , MDL 2179 in the United States District Court for the Eastern District of Louisiana. The trust fund is exempt from the general revenue service charge provided in s. 215.20.

(2) Funds from the trust fund shall be used for the purposes described in ss. 288.8011-288.8018.

1 (3) For the 2025-2026 fiscal year, funds shall be used for the Rebuild Florida Revolving Loan Fund program to provide assistance to businesses impacted by Hurricane Michael as provided in the General Appropriations Act. This subsection expires July 1, 2026.

Legislative History

s. 1, ch. 2017-64; s. 92, ch. 2020-114; s. 2, ch. 2021-4; s. 52, ch. 2021-37; s. 73, ch. 2022-157; s. 63, ch. 2023-240; s. 78, ch. 2024-228; s. 97, ch. 2025-199.