The proposed bill introduces two new parts within Chapter 542 of the Florida Statutes: the Florida Antitrust Act of 1980 and the Florida Contracts Honoring Opportunity, Investment, Confidentiality, and Economic Growth (CHOICE) Act. It outlines specific provisions regarding garden leave and noncompete agreements, defining key terms such as "covered employee" and "covered employer." The bill clarifies that certain garden leave agreements will not be deemed a restraint of trade if they adhere to specified notice requirements. It also grants covered employers the right to enforce these agreements through preliminary injunctions, allowing for the recovery of damages and attorney fees in breach cases. Additionally, the bill addresses salary or benefit reductions for covered employees involved in gross misconduct, ensuring these actions do not breach the agreements.

Moreover, the bill amends various sections of Florida Statutes to replace the term "act" with "part" in relation to the Florida Antitrust Act of 1980, enhancing alignment with federal trade regulations. It establishes that injunctive relief is not the sole remedy for covered employers, who can seek monetary damages and reasonable attorney fees. The bill also clarifies the enforceability of noncompete agreements, requiring written acknowledgment of confidential information by employees. It ensures that contracts restraining trade are valid under certain conditions and that remedies provided are cumulative. The bill is set to take effect on July 1, 2025, and aims to improve the legal framework governing noncompete agreements and antitrust laws in Florida.

Statutes affected:
S 922 c2: 542.15, 542.16, 542.20, 542.22, 542.23, 542.235, 542.24, 542.25, 542.26, 542.27, 542.29, 542.30, 542.31, 542.32, 542.33, 542.35, 542.36