(1) The Implementing Solutions from Transportation Research and Evaluating Emerging Technologies Living Lab (I-STREET) is established within the University of Florida.
(2) At a minimum, I-STREET shall:

(a) Conduct and facilitate research on issues related to innovative transportation mobility and safety technology development and deployment in this state and serve as an information exchange and depository for the most current information pertaining to transportation research, education, workforce development, and related issues.
(b) Be a continuing resource for the Legislature, the department, local governments, the nation’s metropolitan regions, and the private sector in the area of transportation and related research.
(c) Promote intercampus transportation and related research activities among Florida universities to enhance the ability of these universities to attract federal and private sector funding for transportation and related research.
(d) Provide by July 1, 2024, and each July 1 thereafter, to the Governor, the President of the Senate, and the Speaker of the House of Representatives a comprehensive report that outlines its clearly defined goals and its efforts and progress on reaching those goals.
(3) An advisory board shall be created to periodically review and advise I-STREET concerning its research program. The board shall consist of nine members with expertise in transportation-related areas, as follows:

(a) A member appointed by the President of the Senate.
(b) A member appointed by the Speaker of the House of Representatives.
(c) The Secretary of Transportation or his or her designee.
(d) The Secretary of Economic Opportunity or his or her designee.
(e) A member of the Florida Transportation Commission.
(f) Four members nominated by the University of Florida’s College of Engineering and approved by the university’s president. The College of Engineering’s nominees may include representatives of the University of Florida, other academic and research institutions, or private entities.