House passes bills on Chinese investments, cybersecurity, demolition of historical structures
TALLAHASSEE, Fla. – The Florida House of Representatives passed several bills on Monday relating to enhancing bolstering cybersecurity, the illegal demolition of historical structures and foreign investments with Chinese companies.
HB 7071 – Foreign Investments by the State Board of Investment
Rep. Mike Caruso’s, R-Delray Beach, legislation prevents the State Board Administration from accepting direct holding of Chinese companies on behalf of the Florida Retirement System Trust Fund.
Additionally, the administration must initiate a review of all current direct holdings to determine which, if any, include securities of a Chinese company.
According to the bill analysis, the retirement system’s exposure to Chinese companies is estimated around $227 million, or 0.16% of the trust fund.
Caruso’s bill passed unanimously on the House floor.
The Senate Committee on Government Oversight and Accountability sponsored the Senate companion bill.
HB 1555 – Cybersecurity
The legislation, filed by Rep. Mike Giallombardo, R-Cape Coral, improves the state’s cybersecurity protection.
The bill redefines the responsibilities of the Florida Digital Service and establishes a chief technology officer for the state.
Giallombardo’s legislation also further defines the reporting requirements for cybersecurity attacks on businesses and individuals within the state.
The bill passed unanimously.
The Senate version is sponsored by Sen. Jay Collins, R-Tampa.
HB 1621 – Unlawful Demolition of Historical Structures
Rep. Mike Beltran, R-Riverview, sponsored the bill allowing for code enforcement boards to enhance penalties and fines for the illegal demolition of historical structures.
Current state law defines that the fines may not exceed $250 per day for a first violation, $500 per day for a repeat violation, and $5,000 for a violation that is irreparable or irreversible in nature.
Beltran’s legislation passed 112-1, with Rep. David Borrero, R-Sweetwater was the sole “nay” vote.
There is no Senate companion bill for the legislation.
