UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number:__811-21184______

_______BlackRock Florida Municipal 2020 Term Trust_______
(Exact name of registrant as specified in charter)

100 Bellevue Parkway, Wilmington, DE
19809
(Address of principal executive offices)
(Zip code)

Robert S. Kapito, President

BlackRock Florida Municipal 2020 Term Trust

      40 East 52nd Street, New York, NY 10022      
(Name and address of agent for service)


Registrant’s telephone number, including area code:_888-825-2257__________________

Date of fiscal year end:___December 31, 2006
Date of reporting period:__September 30, 2006

Item 1. Schedule of Investments.

The Registrant’s unaudited schedule of investments as of the close of the reporting period pursuant to Rule 30b1-5 under the Investment Company Act of 1940 is as follows:


PORTFOLIO OF INVESTMENTS (unaudited)
SEPTEMBER 30, 2006

BlackRock Florida Municipal 2020 Term Trust (BFO)

      Principal            
        Amount       Option Call    
    Rating1   (000)   Description   Provisions2   Value  
          LONG-TERM INVESTMENTS—144.0%        
            Florida—123.7%        
    NR   $ 10   Brandy Creek Cmnty. Dev. Dist. SA, Ser. B, 5.40%, 5/01/09   No Opt. Call   $ 10,052  
    AAA   6,150   Brd. of Ed. GO, Ser. J, 5.00%, 6/01/24, AMBAC   06/13 @ 101   6,510,329  
    AAA   1,095   City of Deltona Util. Sys. RB, 5.00%, 10/01/23, MBIA   10/13 @ 100   1,157,787  
    AA   1,000   City of Lakeland Wtr. & Wstwtr. RB, 5.00%, 10/01/27   10/12 @ 100   1,047,920  
            City of Marco Island Util. Sys. RB,        
    AAA   2,000       5.00%, 10/01/22, MBIA   10/13 @ 100   2,120,920  
    AAA   1,375       5.00%, 10/01/23, MBIA   10/13 @ 100   1,453,843  
    AAA   1,000       5.25%, 10/01/21, MBIA   10/13 @ 100   1,081,280  
            City of Palm Coast Util. Sys. RB,        
    AAA   1,770       5.00%, 10/01/22, MBIA   10/13 @ 100   1,877,014  
    AAA   1,485       5.00%, 10/01/23, MBIA   10/13 @ 100   1,570,150  
    AAA   1,500       5.00%, 10/01/24, MBIA   10/13 @ 100   1,586,940  
    NR   4,665   Crossings at Fleming Island Cmnty. Dev. Dist. RB, 6.75%, 10/01/25   10/09 @ 102   4,849,174  
    AAA   566   Escambia Cnty. Hlth. Facs. Auth. RB, 5.95%, 7/01/20, AMBAC   No Opt. Call   608,594  
    BBB   4,000   Escambia Cnty. RB, Intl. Paper Co. Proj., 5.75%, 11/01/27, AMT   11/13 @ 100   4,205,920  
    BBB+   1,955   Hillsborough Cnty. Ind. Dev. Auth. PCRB, Tampa Elec. Co. Proj., 5.50%, 10/01/23   10/12 @ 100   2,058,771  
    AAA   1,000   Hillsborough Cnty. Sch. Brd. COP, 5.00%, 7/01/27, MBIA   07/13 @ 100   1,048,280  
    AAA   3,000   Lee Cnty. Transp. Fac. RB, Ser. B, 5.00%, 10/01/22, AMBAC   10/14 @ 100   3,192,930  
    BB+   2,500   Miami Beach Hlth. Facs. Auth. RB, Mt. Sinai Med. Ctr. Proj., 6.75%, 11/15/21   11/14 @ 100   2,827,000  
    AAA   4,695   Miami-Dade Cnty. Edl. Facs. Auth. RB, Univ. of Miami Proj., Ser. A, 5.00%, 4/01/24, AMBAC   04/14 @ 100   4,968,296  
            Miami-Dade Cnty. RB,        
    AAA   5,365       Ser. A, Zero Coupon, 10/01/19, MBIA   04/08 @ 55.413   2,842,162  
    AAA   10,000       Ser. A, Zero Coupon, 10/01/20, MBIA   04/08 @ 52.398   4,994,600  
    AAA   7,560       Ser. B, Zero Coupon, 10/01/32, MBIA   04/08 @ 26.494   1,920,618  
    AAA   4,000   Mun. Loan Council RB, Ser. A, Zero Coupon, 4/01/20, MBIA   No Opt. Call   2,241,200  
    NR   3,595   North Palm Beach Cnty. Impvt. Dist. RB, Wtr. Ctrl. & Impvt. Unit Dev. 43 Proj., 6.10%, 8/01/21   08/11 @ 101   3,761,233  
    A+   4,450   Orange Cnty. Hlth. Facs. Auth. RB, Adventist Hlth. Sys. Proj., 5.625%, 11/15/32   11/12 @ 101   4,788,200  
    AAA   6,500   Palm Beach Cnty. Sch. Brd. COP, Ser. D, 5.00%, 8/01/28, FSA   08/12 @ 100   6,762,470  
    AAA   2,760   Polk Cnty. Util. Sys. RB, 5.00%, 10/01/23, FGIC   10/13 @ 100   2,918,258  
    NR   4,615   Sterling Hill Cmnty. Dev. Dist. SA, 6.10%, 5/01/23   05/13 @ 101   4,807,723  
    NR   2,765   Stevens Plantation Impvt. Proj. RB, 6.375%, 5/01/13   No Opt. Call   2,859,867  
    NR   1,205   Sumter Cnty. Indl. Dev. Auth. RB, North Sumter Util. Co. LLC Proj., 6.80%, 10/01/32, AMT   10/09 @ 100   1,256,526  
            Tohopekaliga Wtr. Auth. RB,        
    AAA   3,630       Ser. A, 5.00%, 10/01/21, FSA   10/13 @ 100   3,851,757  
    AAA   3,810       Ser. A, 5.00%, 10/01/22, FSA   10/13 @ 100   4,035,590  
    AAA   2,000       Ser. A, 5.00%, 10/01/23, FSA   10/13 @ 100   2,114,680  
    AAA   1,975       Ser. B, 5.00%, 10/01/22, FSA   10/13 @ 100   2,091,940  
    AAA   1,180       Ser. B, 5.00%, 10/01/23, FSA   10/13 @ 100   1,247,661  
    NR   1,740       Vlg. Cmnty. Dev. Dist. No. 5 SA, Ser. A, 6.00%, 5/01/22   05/13 @ 101   1,838,554  
                Vlg. Ctr. Cmnty. Dev. Dist. RB,        
    AAA   5,000       5.25%, 10/01/23, MBIA   10/13 @ 101   5,428,550  
    NR3   2,000       Ser. B, 6.35%, 1/01/18   01/14 @ 100   2,132,120  
                    104,068,909  
            Puerto Rico—20.3%        
            Children’s Trust Fund Tobacco Settlement RB,        
    BBB   2,015       5.50%, 5/15/39   05/12 @ 100   2,086,069  
    BBB   10,500       5.625%, 5/15/43   05/12 @ 100   10,908,135  
    Aaa   3,740 4      Pub. Fin. Corp. RB, Ser. E, 5.50%, 2/01/12   N/A   4,083,257  
                    17,077,461  
            Total Long-Term Investments (cost $114,813,961)       121,146,370  

1

BlackRock Florida Municipal 2020 Term Trust (BFO) (continued)

      Principal            
        Amount       Option Call    
    Rating1   (000)   Description   Provisions2   Value  
          SHORT-TERM INVESTMENTS—11.6%        
            Florida—4.9%        
    A-1+   $ 630 5      Jacksonville Hlth. Facs. Auth. RB, Baptist Med. Ctr. Proj., 3.80%, 10/02/06, FRDD   N/A   $ 630,000  
    A-1+   3,500 5 Pinellas Cnty. Hlth. Fac. Auth. RB, All Children’s Hosp. Proj., 3.85%, 10/02/06, AMBAC, FRDD   N/A   3,500,000  
                    4,130,000  
            Puerto Rico—1.2%        
    A-1   950 5 Hwy. & Transp. Auth. RB, Ser. A, 3.60%, 10/04/06, AMBAC, FRWD   N/A   950,000  
       
Shares
           
       
(000)
           
            Money Market Funds—5.5%        
    NR   4,200   AIM Tax Free Cash Reserve Portfolio   N/A   4,200,000  
    NR   450   SSgA Tax Free Money Mkt. Fund   N/A   450,000  
                    4,650,000  
            Total Short-Term Investments (cost $9,730,000)       9,730,000  
            Total Investments—155.6% (cost $124,543,9616)       $130,876,370  
            Other assets in excess of liabilities—2.6%       2,183,450  
            Preferred shares at redemption value, including dividends payable—(58.2)%       (48,928,536)  
            Net Assets Applicable to Common Shareholders —100%       $ 84,131,284  

1   Using the highest of Standard & Poor’s, Moody’s Investors Services or Fitch’s ratings.  
2   Date (month/year) and price of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates.  
3   Security is deemed to be of investment grade quality by the investment advisor.  
4   This bond is prerefunded. U.S. government securities, held in escrow, are used to pay interest on this security, as well as retire the bond in full at the date indicated, typically at a premium to par.  
5   For purposes of amortized cost valuation, the maturity date of this instrument is considered to be the earlier of the next date on which the security can be redeemed at par, or the next date on which the rate of interest is adjusted. Rate shown is rate as of September 30, 2006.  
6   Cost for Federal income tax purposes is $124,522,343. The net unrealized appreciation on a tax basis is $6,354,027, consisting of $6,354,027 gross unrealized appreciation and $0 gross unrealized depreciation.  

KEY TO ABBREVIATIONS
AMBAC — American Municipal Bond Assurance Corp.   FSA — Financial Security Assurance
AMT — Subject to Alternative Minimum Tax   GO — General Obligation
COP — Certificate of Participation   MBIA — Municipal Bond Insurance Assoc.
FGIC — Financial Guaranty Insurance Co.   PCRB — Pollution Control Revenue Bond
FRDD — Floating Rate Daily Demand   RB — Revenue Bond
FRWD — Floating Rate Weekly Demand   SA — Special Assessment

2

Item 2. Controls and Procedures.

(a) The Registrant’s principal executive and principal financial officers have evaluated the Registrant’s disclosure controls and procedures within 90 days of this filing and have concluded, as of that date, that the Registrant’s disclosure controls and procedures were reasonably designed to ensure that information required to be disclosed by the Registrant in this Form N-Q was recorded, processed, summarized, and reported within the required time periods and that information to be disclosed by the Registrant in this Form N-Q was accumulated and communicated to the Registrant’s management, including its principal executive and principal financial officers, as appropriate, to allow timely decisions regarding required disclosure.

(b) There were no changes in the Registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a -3(d)) that occurred during the Registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant’s internal control over financial reporting.

Item 3. Exhibits.

Separate certifications of the Registrant’s Principal Executive and Financial Officers pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 are attached as EX-99.CERT.

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant)___BlackRock Florida Municipal 2020 Term Trust___

By: /s/ Donald C. Burke
_____________________________________________________________________
Name: Donald C. Burke
Title: Treasurer and Principal Financial Officer
Date: November 29, 2006

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

By: /s/ Robert S. Kapito
_____________________________________________________________________
Name: Robert S. Kapito
Title: President and Principal Executive Officer
Date: November 29, 2006

By: /s/ Donald C. Burke
_____________________________________________________________________
Name: Donald C. Burke
Title: Treasurer and Principal Financial Officer
Date: November 29, 2006