Florida in-state investment bill awaits governor

The Florida House on Wednesday night overwhelmingly approved a bill encouraging the Florida State Board of Administration, Tallahassee, to invest up to 1.5% of its $184 billion in assets in Florida-based technology and other high-wage, high-growth investments to stimulate the economy and job growth in the state. The bill passed 117-1 and now awaits the signature of Gov. Charlie Crist, said Wallace Eccleston Jr., legislative assistant to state Sen. Jeremy Ring, sponsor of the legislation. “We’re hopeful and confident he’ll sign it,” Mr. Eccleston said. Mr. Crist has 60 days to sign the bill. A representative of the governor’s media relations office couldn’t be reached for comment. If enacted, the bill would take effect July 1. Robert Milligan, interim executive director of the FSBA, said the board supported the legislation.