Resilience Infrastructure Loans:
SB 1398 would create the Resilience Infrastructure Loan Program within the Florida Department of Commerce to provide loans for infrastructure projects that are based on resilience engineering principles and that also satisfy applicable requirements under the Florida Building Code, Florida Fire Prevention Code, or Life Safety Code. The bill defines key terms such as “infrastructure,” “district,” and “resilience engineering principles,” and limits the program to projects that help systems adapt to hazards and continue functioning after failures.
The program would be funded with state and federal grant funds, subject to legislative appropriation, and the Department of Commerce would be required to contract with the State Board of Administration to invest and manage the funds. The department could also issue bonds or take related actions without going through the Division of Bond Finance unless otherwise required by law. Loans would be awarded only to the district named in the application, would carry an interest rate capped by existing law unless a higher rate is authorized, and would have a term of 20 years or less. Repayment would begin immediately after project completion and be finished within three years after repayment starts.
The bill would add a new section to chapter 718, Florida Statutes, creating a state-administered loan program for resilience-related infrastructure projects. It would give the Department of Commerce new authority to identify eligible projects, set underwriting criteria by rule, manage loan awards, and coordinate fund investment and administration with the State Board of Administration. The bill also contemplates a contingent appropriation from the Indian Gaming Revenue Clearing Trust Fund for fiscal year 2025-2026 to finance the program.
The available record suggests limited public debate, as no committee transcript or vote details are provided, and the bill ultimately died in the Senate Commerce and Tourism Committee. Based on the text, the measure appears policy-driven and supportive of infrastructure resilience and structural safety, with an emphasis on financing rather than regulation. The lack of recorded votes or discussion makes it difficult to identify broader support or opposition beyond the committee outcome.
Potential points of contention include the use of public funds, especially the contingent appropriation from the Indian Gaming Revenue Clearing Trust Fund, and the creation of a new lending program administered by the Department of Commerce. The bill also gives the department broad discretion to set underwriting criteria and, in some cases, to act independently of the Division of Bond Finance, which could raise oversight concerns. Another possible issue is the narrow eligibility structure: loans may only be used for projects required by law or regulation to ensure structural safety, and only the district identified in the application may receive the funds.