1. (1) The rural fund shall submit to the Department a report on or before the 15th business day after the second and third Credit Certification Dates. The reports shall be submitted electronically to RCIP@commerce.fl.gov in the format specified on Form COM-73-009 (effective date 04/2026), Annual and Final Report, which is incorporated by reference and available online at: HYPERLINK "http://flrules.org/Gateway/reference.asp?No=Ref-19151"http://flrules.org/Gateway/reference.asp?No=Ref-19151, and include the information required by section 288.062(11)(a), F.S. Such report shall include the following for each eligible business:

   1. (a) The name of each eligible business who received an eligible investment and the amount of eligible investment received;
   2. (b) The county of each eligible business receiving an eligible investment;
   3. (c) The percentage of eligible investments made in rural communities;
   4. (d) The names of the eligible businesses located in rural communities that received eligible investments and the amount of eligible investment received;
   5. (e) Financial documentation that the rural fund has invested the amounts required in section 288.062(7)(a), F.S. Acceptable financial documentation includes bank statements, wire transfers, or canceled checks.
   6. (f) Bank statements of such rural fund evidencing each eligible investment;
   7. (g) If requested of the Department, a copy of the written opinion of the Department that such business was an eligible business at the time of such eligible investment, or evidence that the Department failed to respond to a request for eligibility within 15 days of such request (as evidenced by a signed certification of the fund manager of such request and the Department’s failure to respond), as applicable;
   8. (h) The number of jobs created as a result of each eligible investment;
   9. (i) The number of jobs retained as a result of each eligible investment;
   10. (j) An affidavit, using Form COM-73-010 (effective date 04/2026), Affidavit for Jobs Retained, which is incorporated by reference and available online at: HYPERLINK "http://flrules.org/Gateway/reference.asp?No=Ref-19152"http://flrules.org/Gateway/reference.asp?No=Ref-19152, from each eligible business’s chief executive officer providing that the jobs retained would have been eliminated but for the initial eligible investment;
   11. (k) The average annual salary of jobs created as a result of each eligible investment;
   12. (l) The average annual salary of jobs retained as a result of each eligible investment;
   13. (m) The median salary of jobs created as a result of each eligible investment;
   14. (n) The median salary of jobs retained as a result of each eligible investment;
   15. (o) The salary range of jobs created as a result of each eligible investment;
   16. (p) The salary range of jobs retained as a result of each eligible investment;
   17. (q) The eligible businesses revenue or profit before the eligible investment;
   18. (r) The eligible businesses revenue or profit after the eligible investment;
   19. (s) Documentation of all distributions during the rural fund’s first two years related to the reasonable costs and expenses of forming, syndicating, managing, and operating the rural fund. Such distributions include reasonable and necessary fees paid for professional services, including legal and accounting services, related to the formation and operation of the rural fund; and
   20. (t) Any additional information requested by the Department.

2. (2) On or before the fourth Credit Certification Date and annually thereafter until Program exit the rural fund shall submit to the Department a report on or before the 15th business day after the second and third Credit Certification Dates. The reports shall be submitted electronically to RCIP@commerce.fl.gov in the format specified on Form COM-73-009 (effective date 04/2026), Annual and Final Report, which is incorporated by reference and available online at: HYPERLINK "http://flrules.org/Gateway/reference.asp?No=Ref-19151"http://flrules.org/Gateway/reference.asp?No=Ref-19151, and include the information required by section 288.062(11)(b), F.S. Such report shall include:

   1. (a) The name of each eligible business who received an eligible investment and the amount of eligible investment received;
   2. (b) The county of each eligible business receiving an eligible investment;
   3. (c) The percentage of eligible investments made in rural communities;
   4. (d) The names of the eligible businesses located in rural communities that received eligible investments and the amount of eligible investment received;
   5. (e) Financial documentation that the rural fund has invested the amounts required in section 288.062(7)(a), F.S. Acceptable financial documentation includes bank statements, wire transfers, or canceled checks;
   6. (f) Bank statements of such rural fund evidencing each eligible investment;
   7. (g) If requested of the Department, a copy of the written opinion of the Department that such business was an eligible business at the time of such eligible investment, or evidence that the Department failed to respond to a request for eligibility within 15 days of such request (as evidenced by a signed certification of the fund manager of such request and the Department’s failure to respond), as applicable;
   8. (h) The number of jobs created as a result of each eligible investment;
   9. (i) The number of jobs retained as a result of each eligible investment;
   10. (j) An affidavit from each eligible business’s chief executive officer providing that the jobs retained would have been eliminated but for the initial eligible investment;
   11. (k) The average annual salary of jobs created as a result of each eligible investment;
   12. (l) The average annual salary of jobs retained as a result of each eligible investment;
   13. (m) The median salary of jobs created as a result of each eligible investment;
   14. (n) The median salary of jobs retained as a result of each eligible investment;
   15. (o) The salary range of jobs created as a result of each eligible investment;
   16. (p) The salary range of jobs retained as a result of each eligible investment;
   17. (q) The eligible businesses revenue or profit before the eligible investment;
   18. (r) The eligible businesses revenue or profit after the eligible investment;
   19. (s) Documentation of all distributions during the rural fund’s third, fourth, and fifth years related to the reasonable costs and expenses of forming, syndicating, managing, and operating the rural fund. Such distributions include reasonable and necessary fees paid for professional services, including legal and accounting services, related to the formation and operation of the rural fund; and
   20. (t) Any additional information requested by the Department.

3. (3) A rural fund must, upon the Department’s request, provide the following to the Department:

   1. (a) A schedule showing compliance with the 60% and 100% investment thresholds as of the second and third anniversaries of the Credit Certification Date;
   2. (b) A maintenance schedule demonstrating that at least 70% of investment authority remains invested thereafter; and
   3. (c) If any eligible investment is repaid or sold, documentation showing reinvestment within 12 months after receipt of capital or by the end of the following calendar year, whichever is later. Acceptable documentation includes, but is not limited to, bank statements, wire confirmations, general ledger extracts, cap tables, payoff statements, or executed agreements.

Rulemaking Authority 288.062(13) FS. Law Implemented 288.062 FS. History–New 4-22-26.