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

Name of Fund: BlackRock Florida Municipal 2020 Term Trust (BFO)

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service: Donald C. Burke, Chief Executive Officer, BlackRock Florida
          Municipal 2020 Term Trust, 800 Scudders Mill Road, Plainsboro, NJ, 08536. Mailing address: P.O.
          Box 9011, Princeton, NJ, 08543-9011

Registrant’s telephone number, including area code: (800) 882-0052, Option 4

Date of fiscal year end: 12/31/2007

Date of reporting period: 07/01/2007 – 09/30/2007

Item 1 – Schedule of Investments

PORTFOLIO OF INVESTMENTS (unaudited)
SEPTEMBER 30, 2007
 BlackRock Florida Municipal 2020 Term Trust (BFO) 
(Percentages shown are based on Net Assets)

Principal
           
Amount
                 
(000)
  Description    
Value
 
      LONG-TERM INVESTMENTS—150.8%        
      Florida—141.8%        
$ 6,150   Brd. of Ed., Sch. Impvts. Misc. GO, Ser. J,        
         5.00%, 6/01/24, AMBAC   $ 6,404,671  
  1,095   City of Deltona, Mult. Util. Impvts. RB,        
         5.00%, 10/01/23, MBIA     1,140,443  
  1,000   City of Lakeland, Wtr. RB, 5.00%, 10/01/27     1,023,090  
      City of Marco Island, Wtr. Util. Impvts.        
      Wtr. RB,        
  2,000      5.00%, 10/01/22, MBIA     2,090,440  
  1,375      5.00%, 10/01/23, MBIA     1,432,063  
  1,000      5.25%, 10/01/21, MBIA     1,065,620  
      City of Palm Coast, Wtr. Util. Impvts. Wtr.        
      RB,        
  1,770      5.00%, 10/01/22, MBIA     1,850,039  
  1,485      5.00%, 10/01/23, MBIA     1,546,628  
  1,500      5.00%, 10/01/24, MBIA     1,559,445  
  4,000   Cnty. of Escambia, Misc. RB, Intl. Paper        
         Co. Proj., 5.75%, 11/01/27, AMT     4,061,280  
      Cnty. of Miami-Dade,        
  5,365      Misc. Taxes RB, Ser. A, Zero Coupon,        
         10/01/19, MBIA     2,907,615  
  10,000      Misc. Taxes RB, Ser. A, Zero Coupon,        
         10/01/20, MBIA     5,122,000  
  7,560      Recreational Fac. Impvts. Misc. Taxes        
         RB, Ser. B, Zero Coupon, 10/01/32,        
         MBIA     1,953,202  
  2,760   Cnty. of Polk, Wtr. Util. Impvts. Wtr. RB,        
         5.00%, 10/01/23, FGIC     2,874,540  
  4,540 1 Crossings at Fleming Island Cmnty. Dev.        
         Dist., Swr. Impvts. RB, 6.75%, 10/01/09     4,862,385  
  566   Escambia Cnty. Hlth. Facs. Auth., Hlth.,        
         Hosp. & Nursing Home Impvts. RB,        
         5.95%, 7/01/20, AMBAC     587,167  
  2,500   Halifax Hosp. Med. Ctr., Hlth., Hosp. &        
         Nursing Home RB, Ser. A, 5.25%,        
         6/01/26     2,546,900  
  1,500 2 Highlands Cnty. Hlth. Facs. Auth., Hlth.,        
         Hosp. & Nursing Home RB, Adventist        
         Hlth. Sys./Sunbelt Proj., Ser. C, 5.25%,        
         11/15/36     1,532,640  
  1,955   Hillsborough Cnty. Indl. Dev. Auth., Elec.,        
         Pwr. & Lt. RB, Tampa Elec. Co. Proj.,        
         5.50%, 10/01/23     1,990,034  
  1,000   Hillsborough Cnty. Sch. Brd., Sch. Impvts.        
         Lease Approp. COP, 5.00%, 7/01/27,        
         MBIA     1,021,990  
  2,500   Hsg. Fin. Corp., Local or Gtd. Hsg. RB,        
         4.70%, 7/01/22, AMT     2,447,725  
  1,500   Lee Cnty. Hsg. Fin. Auth., Local Sngl. Fam.        
         Hsg. RB, Mult. Cnty. Proj., Ser. A-2,        
         6.00%, 9/01/40, AMT     1,634,070  
  1,500   Lee Cnty. Indl. Dev. Auth., Hlth., Hosp. &        
         Nursing Home RB, Shell Point/Alliance        
         Cmnty. Proj., 5.00%, 11/15/22     1,471,830  
  3,000   Lee Cnty., Trans. RB, Ser. B, 5.00%,        
         10/01/22, AMBAC     3,142,320  
  1,500   Marion Cnty. Hosp. Dist., Hlth., Hosp. &        
         Nursing Home RB, Munroe Regl. Hlth.        
         Sys. Proj., 5.00%, 10/01/22     1,528,395  
  2,500   Miami Beach Hlth. Facs. Auth., Hlth., Hosp.        
         & Nursing Home Impvts. RB, Mt. Sinai        
         Med. Ctr. Proj., 6.75%, 11/15/21     2,759,525  
  4,695 1 Miami-Dade Cnty. Edl. Facs. Auth., Univ.        
         & Coll. RB, Miami Univ. Proj., Ser. A,        
         5.00%, 4/01/14, AMBAC     5,047,970  
Principal
           
Amount
                 
(000)
  Description    
Value
 
 
  Florida—(cont'd)        
$
4,000
  Mun. Loan Council, Pub. Impvts. RB, Ser.        
 
     A, Zero Coupon, 4/01/20, MBIA   $ 2,304,640  
 
  Northern Palm Beach Cnty. Impvt. Dist.,        
 
1,000
     SA, Wtr. Ctrl. & Impvt. Unit Dev. 43        
 
     Proj., Ser. B, 4.50%, 8/01/22, ACA     926,200  
 
1,000
     SA, Wtr. Ctrl. & Impvt. Unit Dev. 43        
 
     Proj., Ser. B, 5.00%, 8/01/31, ACA     953,090  
 
2,735
 1    Wtr. Util. Impvts. SA RB, Wtr. Ctrl. &        
 
     Impvt. Unit Dev. 43 Proj., 6.10%, 8/01/11     2,968,104  
 
710
     Wtr. Util. Impvts. SA RB, Wtr. Ctrl. &        
 
     Impvt. Unit Dev. 43 Proj., 6.10%, 8/01/21     735,752  
 
725
  Orange Cnty. Edl. Facs. Auth., Univ. &        
 
     Coll. Impvts. RB, Rollins Coll. Proj.,        
 
     5.25%, 12/01/22, AMBAC     781,231  
 
4,450
 1 Orange Cnty. Hlth. Facs. Auth., Hlth., Hosp.        
 
     & Nursing Home Impvts. RB, Adventist        
 
     Hlth. Sys. Proj., 5.625%, 11/15/12     4,892,374  
 
6,500
  Palm Beach Cnty. Sch. Brd., Lease Renewal        
 
     COP, Ser. D, 5.00%, 8/01/28, FSA     6,616,935  
 
4,455
  Sterling Hill Cmnty. Dev. Dist., SA, Ser. A,        
 
     6.10%, 5/01/23     4,781,329  
 
2,445
  Stevens Plantation Impvt. Proj. Dependent        
 
     Spl. Dist., Pub. Impvts. Misc. RB,        
 
     6.375%, 5/01/13     2,490,281  
 
1,185
  Sumter Cnty. Indl. Dev. Auth., Indl. Impvts.        
 
     RB, North Sumter Util. Co. LLC Proj.,        
 
     6.80%, 10/01/32, AMT     1,205,809  
 
  Tohopekaliga Wtr. Auth.,        
 
3,630
     Wtr. RB, Ser. A, 5.00%, 10/01/21, FSA     3,828,670  
 
3,810
     Wtr. RB, Ser. A, 5.00%, 10/01/22, FSA     3,982,288  
 
2,000
     Wtr. RB, Ser. A, 5.00%, 10/01/23, FSA     2,083,000  
 
1,975
     Wtr. Util. Impvts. Wtr. RB, Ser. B,        
 
     5.00%, 10/01/22, FSA     2,064,310  
 
1,180
     Wtr. Util. Impvts. Wtr. RB, Ser. B,        
 
     5.00%, 10/01/23, FSA     1,228,970  
 
1,550
  Vlg. Cmnty. Dev. Dist. No. 5, Pub. Impvts.        
 
     SA, Ser. A, 6.00%, 5/01/22     1,675,829  
 
  Vlg. Ctr. Cmnty. Dev. Dist.,        
 
2,000
     Recreational Fac. Impvts. RB, Ser. B,        
 
     6.35%, 1/01/18     2,198,540  
 
5,000
     Wtr. Util. Impvts. Wtr. RB, 5.25%,        
 
     10/01/23, MBIA     5,306,950  
 
1,000
  Watergrass Cmnty. Dev. Dist., Pub. Impvts.        
 
     SA, Ser. B, 5.125%, 11/01/14     944,480  
 
        117,572,809  
 
  Puerto Rico—7.3%        
 
2,015
  Children's Trust Fund, Tobacco Settlement        
 
     Funded RB, 5.50%, 5/15/39     2,016,148  
 
3,740
1 Pub. Fin. Corp., Cash Flow Mgmt. Misc.        
 
     RB, Ser. E, 5.50%, 2/01/12     4,023,081  
 
        6,039,229  
 
  U.S. Virgin Islands—1.7%        
 
1,500
  Pub. Fin. Auth., Swr. Impvts. RB, Hovensa        
 
     LLC Proj., 4.70%, 7/01/22, AMT     1,403,580  
 
  Total Long-Term Investments        
 
  (cost $121,308,354)     125,015,618  
 
  SHORT-TERM INVESTMENTS—5.8%        
 
  Florida—5.8%        
 
1,000
3 Higher Edl. Facs. Fing. Auth., Univ. & Coll.        
 
     Impvts. RB, Saint Thomas Univ. Proj.,        
 
     4.02%, 10/01/07, FRDD     1,000,000  


1

 BlackRock Florida Municipal 2020 Term Trust (BFO) (continued) 
(Percentages shown are based on Net Assets)

Principal
           
Amount
               
(000)
  Description      
Value
 
      Florida—(cont'd)        
$ 680 3 Jacksonville Hlth. Facs. Auth., Hlth., Hosp.        
         & Nursing Home RB, Daughters of        
         Charity Proj., 4.00%, 10/01/07, MBIA,        
         FRDD   $ 680,000  
  500 3 Lee Cnty. Hosp. Brd. of Directors, Hlth.,        
         Hosp. & Nursing Home RB, Mem. Hlth.        
         Sys. Proj., 4.09%, 10/01/07, FRDD     500,000  
      Orange Cnty. Hlth. Facs. Auth., Hlth., Hosp.        
      & Nursing Home Impvts. RB, Orlando Regl.        
      Hlth. Care Proj.,        
  1,550 3    4.00%, 10/01/07, FSA, FRDD     1,550,000  
  1,100 3    4.02%, 10/01/07, FGIC, FRDD     1,100,000  
            4,830,000  
Shares
           
      Money Market Fund—0.0%        
  457 4,5 CMA Florida Mun. Money Fund, 3.25%     457  
      Total Short-Term Investments        
      (cost $4,830,457)     4,830,457  
Total Investments —156.6% (cost $126,138,8116)   $ 129,846,075  
Other assets in excess of liabilities—2.4%     1,991,125  
Preferred shares at redemption value, including dividends        
payable—(59.0)%     (48,936,108
)
Net Assets Applicable to Common Shareholders—100%   $ 82,901,092  
 

 
1     

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.
 
2

Variable rate security. Rate shown is interest rate as of September 30, 2007.
 
3

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, 2007.
 
4

Represents an investment in an affiliate.
 
5

Represents current yield as of September 30, 2007.
 
6

Cost for federal income tax purposes is $126,104,521. The net unrealized appreciation on a tax basis is $3,741,554, consisting of $4,203,920 gross unrealized appreciation and $462,366 gross unrealized depreciation.
 
 
KEY TO ABBREVIATIONS
ACA
  — American Capital Access
AMBAC
 — American Municipal Bond Assurance Corp.
AMT
 — Subject to Alternative Minimum Tax
COP
 — Certificate of Participation
FGIC
 — Financial Guaranty Insurance Co.
FRDD
 — Floating Rate Daily Demand
FSA
 — Financial Security Assurance
GO
 — General Obligation
MBIA
 — Municipal Bond Insurance Assoc.
RB
 — Revenue Bond
SA
 — Special Assessment


 

 

2

Item 2 – Controls and Procedures
   
2(a) – The registrant’s principal executive and principal financial officers or persons performing similar functions have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”)) are effective as of a date within 90 days of the filing of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13a-15(b) under the Securities and Exchange Act of 1934, as amended.
   
2(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) 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
   
  Certifications – Attached hereto
   
  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.
   
  BlackRock Florida Municipal 2020 Term Trust
   
  By: /s/ Donald C. Burke          
  Donald C. Burke,
President & Chief Executive Officer of
BlackRock Florida Municipal 2020 Term Trust
   
  Date: November 20, 2007
   
  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/ Donald C. Burke          
  Donald C. Burke,
President & Chief Executive Officer (principal executive officer) of
BlackRock Florida Municipal 2020 Term Trust
   
  Date: November 20, 2007
   
  By: /s/ Neal J. Andrews          
  Neal J. Andrews,
Chief Financial Officer (principal financial officer) of
BlackRock Florida Municipal 2020 Term Trust
   
  Date: November 20, 2007