The bill amends various sections of Florida Statutes to enhance the confidentiality of trade secrets held by state agencies and to eliminate the scheduled repeal of the exemption for such trade secrets under the Open Government Sunset Review Act. Specifically, it amends Section 119.0715 to remove the provision that would have allowed the exemption to expire on October 2, 2026. The bill also makes conforming changes by removing references to trade secrets in contexts where they were previously defined or mentioned, thereby reinforcing the protection of proprietary business information. Additionally, it introduces new language requiring the deposit of proceeds from the sale of products related to patents, copyrights, or trademarks into the State Transportation Trust Fund for research and development projects.

Furthermore, the bill establishes the Florida Commission on Hurricane Loss Projection Methodology, which will operate independently within the State Board of Administration. This commission is responsible for developing guidelines and standards for projecting hurricane losses, which must be used by the State Board in setting reimbursement premium rates for the Florida Hurricane Catastrophe Fund. Insurers are required to adhere to these standards in their rate filings unless they can demonstrate an error. The bill also includes provisions to protect the confidentiality of trade secrets related to hurricane and flood loss models, ensuring that discussions involving sensitive information are exempt from public meeting laws. Additionally, it mandates the commission to revise its standards for hurricane loss projections every odd-numbered year and for flood loss projections at least every four years.

Statutes affected:
S 7026 Filed: 119.0715, 287.137, 334.049, 408.185, 409.91196, 440.108, 497.172, 501.171, 501.1735, 501.2041, 501.722, 520.9965, 548.062, 559.5558, 569.215, 627.0628