State Senator Don gaetz says he joined Attorney General Pam Bondi to announce a $2 billion settlement of Florida's economic damages claims against BP.
Under the terms of the Oil Spill Economic Recovery Act, which Gaetz sponsored and which became law in 2011, three fourths of this money or $1.5 billion will become an endowment to diversify the economy of coastal Northwest Florida. These funds are above and separate from Restore Act monies appropriated by Congress to local governments and are apart from individual and business claims against BP.
Gaetz says Attorney General Bondi has achieved an historic and very favorable outcome for Florida. Because of her efforts, our state receives the largest share of economic damages. He says, because of the legislation he was fortunate enough to pass, Northwest Florida will receive three fourths of Florida's share. Gaetz says he didn't want any proceeds we could receive to be drained away in Washington or Tallahassee.
The Senator says Pam Bondi deserves the credit for resolving the state's claims in record time instead of having Florida mired in decades of litigation. The Exxon Valdez oil spill in Alaska has been dragging through the courts for more than 25 years.
The Oil Spill Economic Recovery Act establishes Triumph Gulf Coast, Inc. as a long term non-governmental endowment to manage and use the funds to diversify and strengthen our regional economy. Trustees have already been appointed and include Gulf Power CEO Stan Connally, Stephen Riggs IV, Dr. Pam Dana, Bob Bonezzi and Allan Bense.
Deepwater Horizon was the worst economic disaster to hit Northwest Florida in modern times. Gaetz says the agreement could be the best economic opportunity for Northwest Florida in our time.
Under the terms of the Oil Spill Economic Recovery Act, which Gaetz sponsored and which became law in 2011, three fourths of this money or $1.5 billion will become an endowment to diversify the economy of coastal Northwest Florida. These funds are above and separate from Restore Act monies appropriated by Congress to local governments and are apart from individual and business claims against BP.
Gaetz says Attorney General Bondi has achieved an historic and very favorable outcome for Florida. Because of her efforts, our state receives the largest share of economic damages. He says, because of the legislation he was fortunate enough to pass, Northwest Florida will receive three fourths of Florida's share. Gaetz says he didn't want any proceeds we could receive to be drained away in Washington or Tallahassee.
The Senator says Pam Bondi deserves the credit for resolving the state's claims in record time instead of having Florida mired in decades of litigation. The Exxon Valdez oil spill in Alaska has been dragging through the courts for more than 25 years.
The Oil Spill Economic Recovery Act establishes Triumph Gulf Coast, Inc. as a long term non-governmental endowment to manage and use the funds to diversify and strengthen our regional economy. Trustees have already been appointed and include Gulf Power CEO Stan Connally, Stephen Riggs IV, Dr. Pam Dana, Bob Bonezzi and Allan Bense.
Deepwater Horizon was the worst economic disaster to hit Northwest Florida in modern times. Gaetz says the agreement could be the best economic opportunity for Northwest Florida in our time.