North Florida senators fight to keep BP money in North Florida

 Three North Florida state Senators have filed legisllation to ensure money received in the settlement of the state’s economic damage claims caused by the 2010 Deepwater Horizon Oil Spill remain in Northwest Florida’s eight disproportionately affected counties. 

Senator George Gainer of Panama City, Senator Doug Broxson of Pensacola, and Senator Bill Montford who represents our area, filed Senate Bill 364, called The Recovery Fund for the Deepwater Horizon Incident.

The bill is designed to make sure that BP oil spill money stays in the part of Florida that was hardest hit by the oil spill and that the money is appropriated withinn 30 days after they are received by the state.

Under current law, eight disproportionately affected counties in Northwest Florida are to receive 75 percent of all economic damage settlement funds received by the state.

Those eight counties include Franklin, Gulf and Wakulla counties.

The money will be distributed through a 5 member board called the Triumph Gulf Coast board, chaired by former Florida House Speaker Allen Bense.

That board is responsible for utilizing the settlement proceeds to promote job creation through lasting economic development over a period of thirty years.

Triumph Gulf Coast, will also work with local governments to make awards to programs and projects that meet the priorities for economic recovery, and diversification including economic development projects, grants that prepare students for future occupations, as well as infrastructure projects.

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