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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: 12/31/2008

Date of reporting period: 01/01/2008 – 03/31/2008

Item 1 – Schedule of Investments


BlackRock Florida Municipal 2020 Term Trust    
Schedule of Investments as of March 31, 2008 (Unaudited)   (Percentages shown are based on Net Assets)
      Par        
             (000)     Municipal Bonds   Value
Arizona - 1.3%     $ 1,000   Salt Verde Financial Corporation, Arizona, Senior Gas Revenue Bonds,    
          5.25%, 12/01/20 $ 983,050
Florida -     4,540   Crossings at Fleming Island Community Development District, Florida,    
152.2%         Utility Revenue Bonds, 6.75%, 10/01/09 (a)   4,888,536
      1,095   Deltona, Florida, Utility System Revenue Bonds, 5%, 10/01/23 (b)   1,109,169
      4,000   Escambia County, Florida, Environmental Improvement Revenue Refunding    
          Bonds (International Paper Company Projects), AMT, Series A, 5.75%,    
          11/01/27   3,560,680
      566   Escambia County, Florida, Health Facilities Authority, Health Facility    
          Revenue Bonds (Florida Health Care Facility Loan), 5.95%, 7/01/20 (c)   595,938
      2,495   Florida Housing Finance Corporation, Homeowner Mortgage Revenue Bonds,    
          AMT, Series 2, 4.70%, 7/01/22 (d)(e)   2,348,768
      4,000   Florida Municipal Loan Council Revenue Bonds, CABS, Series A, 5.03%,    
          4/01/20 (b)(l)   2,232,320
      6,150   Florida State Board of Education, GO (Public Education Capital Outlay),    
          Series J, 5%, 6/01/24 (c)   6,257,256
      2,500   Halifax Hospital Medical Center, Florida, Hospital Revenue Refunding and    
          Improvement Bonds, Series A, 5.25%, 6/01/26   2,368,100
      1,500   Highlands County, Florida, Health Facilities Authority, Hospital Revenue    
          Bonds (Adventist Health System), Series C, 5.25%, 11/15/36   1,415,250
      1,500   Hillsborough County, Florida, IDA, Hospital Revenue Bonds (H. Lee Moffitt    
          Cancer Center Project), Series A, 5.25%, 7/01/22   1,514,100
      1,955   Hillsborough County, Florida, IDA, PCR, Refunding (Tampa Electric    
          Company Project), 5.50%, 10/01/23   1,917,073
      1,000   Hillsborough County, Florida, IDA, PCR, Refunding (Tampa Electric    
          Company Project), Series A, 5.65%, 5/15/18   999,770
      500   Hillsborough County, Florida, IDA, PCR, Refunding (Tampa Electric    
          Company Project), Series B, 5.15%, 9/01/25   496,020
      1,000   Hillsborough County, Florida, School Board, COP, 5%, 7/01/27 (b)   1,001,290
      1,000   Jacksonville, Florida, HFA, Homeowner Mortgage Revenue Refunding Bonds,    
          AMT, Series A-1, 5.625%, 10/01/39 (d)(e)   1,012,990
      1,000   Lakeland, Florida, Water and Wastewater Revenue Refunding Bonds, 5%,    
          10/01/27   1,003,190
      1,500   Lee County, Florida, HFA, S/F Mortgage Revenue Bonds (Multi-County    
          Program), AMT, Series A-2, 6%, 9/01/40 (d)(e)   1,594,965
      1,500   Lee County, Florida, IDA, Health Care Facilities, Revenue Refunding Bonds    
          (Shell Point/Alliance Obligor Group), 5%, 11/15/22   1,366,125
Portfolio Abbreviations

To simplify the listings of BlackRock Florida Municipal 2020 Term Trust's portfolio holdings in the Schedule of Investments, we have abbreviated the names of many of the securities according to the list below.

  AMT Alternative Minimum Tax (subject to) IDA Industrial Development
  CABS Capital Appreciation Bonds IDR Industrial Development Revenue Bonds
  COP Certificates of Participation PCR Pollution Control Revenue
  HFA Housing Finance Agency S/F Single-Family
  GO General Obligation Bonds VRDN Variable Rate Demand


1


BlackRock Florida Municipal 2020 Term Trust    
Schedule of Investments as of March 31, 2008 (Unaudited)   (Percentages shown are based on Net Assets)
      Par        
               (000)     Municipal Bonds   Value
    $ 3,000   Lee County, Florida, Transportation Facilities Revenue Refunding Bonds,    
          Series B, 5%, 10/01/22 (c) $ 3,071,850
      1,000   Manatee County, Florida, HFA, Homeowner Revenue Bonds, AMT, Series A,    
          5.90%, 9/01/40 (d)(e)   1,025,520
      1,000   Marco Island, Florida, Utility System Revenue Bonds, 5.25%,    
          10/01/21 (b)   1,041,120
      2,000   Marco Island, Florida, Utility System Revenue Bonds, 5%, 10/01/22 (b)   2,043,360
      1,375   Marco Island, Florida, Utility System Revenue Bonds, 5%, 10/01/23 (b)   1,397,454
      1,500   Marion County, Florida, Hospital District, Revenue Refunding Bonds (Munroe    
          Regional Health System), 5%, 10/01/22   1,478,715
      2,500   Miami Beach, Florida, Health Facilities Authority, Hospital Revenue    
          Refunding Bonds (Mount Sinai Medical Center of Florida),    
          6.75%, 11/15/21   2,542,350
      4,695   Miami-Dade County, Florida, Educational Facilities Authority Revenue Bonds    
          (University of Miami), Series A, 5%, 4/01/14 (a)(c)   5,155,720
      7,560   Miami-Dade County, Florida, Special Obligation Revenue Bonds, Sub-Series    
          B, 5.622%, 10/01/32 (b)(l)   1,921,374
      5,365   Miami-Dade County, Florida, Special Obligation Revenue Refunding Bonds,    
          Sub-Series A, 5.277%, 10/01/19 (b)(l)   2,974,088
      10,000   Miami-Dade County, Florida, Special Obligation Revenue Refunding Bonds,    
          Sub-Series A, 5.244%, 10/01/20 (b)(l)   5,241,300
      2,735   Northern Palm Beach County Improvement District, Florida, Water Control    
          and Improvement Revenue Bonds (Unit of Development Number 43), 6.10%,    
          8/01/11 (a)   3,027,864
      710   Northern Palm Beach County Improvement District, Florida, Water Control    
          and Improvement Revenue Bonds (Unit of Development Number 43), 6.10%,    
          8/01/21   715,559
      1,000   Northern Palm Beach County Improvement District, Florida, Water Control    
          and Improvement, Revenue Refunding Bonds (Unit of Development Number    
          43), Series B, 4.50%, 8/01/22 (f)   834,980
      1,000   Northern Palm Beach County Improvement District, Florida, Water Control    
          and Improvement, Revenue Refunding Bonds (Unit of Development Number    
          43), Series B, 5%, 8/01/31 (f)   813,820
      725   Orange County, Florida, Educational Facilities Authority, Educational    
          Facilities Revenue Bonds (Rollins College Project), 5.25%, 12/01/22 (c)   755,646
      4,450   Orange County, Florida, Health Facilities Authority, Hospital Revenue Bonds    
          (Adventist Health System), 5.625%, 11/15/12 (a)   4,981,686
      100   Orange County, Florida, Health Facilities Authority, Hospital Revenue Bonds    
          (Orlando Regional Healthcare), VRDN,    
          Series A-10, 1.25%, 10/01/41 (g)(h)   100,000
      6,500   Palm Beach County, Florida, School Board, COP, Refunding, Series D, 5%,    
          8/01/28 (g)   6,491,355
      1,770   Palm Coast, Florida, Utility System Revenue Bonds, 5%, 10/01/22 (b)   1,808,374
      1,485   Palm Coast, Florida, Utility System Revenue Bonds, 5%, 10/01/23 (b)   1,509,250
      1,500   Palm Coast, Florida, Utility System Revenue Bonds, 5%, 10/01/24 (b)   1,517,235
      2,760   Polk County, Florida, Utility System Revenue Bonds, 5%, 10/01/23 (i)   2,797,067


2


BlackRock Florida Municipal 2020 Term Trust    
Schedule of Investments as of March 31, 2008 (Unaudited)   (Percentages shown are based on Net Assets)
      Par        
               (000)     Municipal Bonds   Value
    $ 4,285   Sterling Hill Community Development District, Florida, Capital Improvement    
          Revenue Refunding Bonds, Series A, 6.10%, 5/01/23 $ 4,332,349
      2,445   Stevens Plantation Improvement Project Dependent Special District,    
          Florida, Revenue Bonds, 6.375%, 5/01/13   2,401,797
      1,185   Sumter County, Florida, IDA, IDR (North Sumter Utility Company LLC), AMT,    
          6.80%, 10/01/32   1,189,337
      1,975   Tohopekaliga, Florida, Water Authority, Utility System Revenue Bonds,    
          Series B, 5%, 10/01/22 (g)   2,047,325
      1,180   Tohopekaliga, Florida, Water Authority, Utility System Revenue Bonds,    
          Series B, 5%, 10/01/23 (g)   1,209,500
      3,630   Tohopekaliga, Florida, Water Authority, Utility System Revenue Refunding    
          Bonds, Series A, 5%, 10/01/21 (g)   3,747,902
      3,810   Tohopekaliga, Florida, Water Authority, Utility System Revenue Refunding    
          Bonds, Series A, 5%, 10/01/22 (g)   3,949,522
      2,000   Tohopekaliga, Florida, Water Authority, Utility System Revenue Refunding    
          Bonds, Series A, 5%, 10/01/23 (g)   2,050,000
      1,300   Tolomato Community Development District, Florida, Special Assessment    
          Bonds, 6.375%, 5/01/17   1,286,259
      2,000   Village Center Community Development District, Florida, Recreational    
          Revenue Bonds, Sub-Series A, 6.35%, 1/01/18   2,073,660
      5,000   Village Center Community Development District, Florida, Utility Revenue    
          Bonds, 5.25%, 10/01/23 (b)   5,180,800
      1,425   Village Community Development District Number 5, Florida, Special    
          Assessment Bonds, Series A, 6%, 5/01/22   1,441,530
      1,000   Watergrass Community Development District, Florida, Special Assessment    
          Revenue Bonds, Series B, 5.125%, 11/01/14   904,820
              121,725,078
Puerto Rico -     2,740   Puerto Rico Public Finance Corporation, Commonwealth Appropriation    
3.7%         Revenue Bonds, Series E, 5.50%, 2/01/12 (a)   2,957,008
U.S. Virgin     1,500   Virgin Islands Public Finance Authority, Refinery Facilities Revenue Bonds    
Islands - 1.6%         (Hovensa Refinery), AMT, 4.70%, 7/01/22   1,272,030
          Total Municipal Bonds    
          (Cost - $126,033,559) - 158.8%   125,954,116
 
      Shares Short-Term Securities    
      465   CMA Florida Municipal Money Fund, 1.57% (j)(k)   465
          Total Short-Term Securities    
          (Cost - $465) - 0.0%   465
          Total Investments (Cost - $126,034,024*) - 158.8%   125,954,581
          Other Assets Less Liabilities - 2.9%   2,325,005
          Preferred Shares, at Redemption Value - (61.7%)   (48,935,611)
          Net Assets Applicable to Common Shares - 100.0% $ 79,343,975

3


BlackRock Florida Municipal 2020 Term Trust    
Schedule of Investments as of March 31, 2008 (Unaudited)   (Percentages shown are based on Net Assets)

*          The cost and unrealized appreciation (depreciation) of investments as of March 31, 2008, as computed for federal income tax purposes, were as follows:

Aggregate cost   $ 126,034,024  
Gross unrealized appreciation   $ 2,161,958  
Gross unrealized depreciation     (2,241,401 )
Net unrealized depreciation   $ (79,443 )

(a)      

Prerefunded.

 
(b)

MBIA Insured.

 

(c)

AMBAC Insured.

 
(d)

FHLMC Collateralized.
 
(e)

FNMA/GNMA Collateralized.

 
(f)

ACA Insured.

 
(g)

FSA Insured.

 
(h)

Variable rate security. Rate shown is as of the report date.

 
(i)

FGIC Insured.

 
(j)

Investments in companies considered to be an affiliate of the Trust, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, were as follows:
         
Affiliate   Net   
Activity 		  Dividend Income
CMA Florida Municipal Money Fund   3   $        4

(k)      

Represents the current yield as of report date.

 
(l)

Represents a zero coupon bond; the interest rate shown reflects the effective yield at the time of purchase.
 

4


BlackRock Florida Municipal 2020 Term Trust

•

Effective January 1, 2008, the BlackRock Florida Municipal 2020 Term Trust (the “Trust”) adopted FASB Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). FAS 157 clarifies the definition of fair value, establishes a framework for measuring fair values and requires additional disclosures about the use of fair value measurements. Various inputs are used in determining the fair value of investments, which are as follows:
 
   

•

Level 1 – price quotations in active markets/exchanges for identical securities
 
   

•

Level 2 – other observable inputs (including, but not limited to: quoted prices for similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, and default rates) or other market–corroborated inputs)
 
   

•

Level 3 – unobservable inputs based on the best information available in the circumstance, to the extent observable inputs are not available (including the Trust’s own assumptions used in determining the fair value of investments)
 
 

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For information about the Trust’s policy regarding valuation of investments and other significant accounting policies, please refer to the Trust’s most recent financial statements as contained in its annual report.
 
 

The following table summarizes the inputs used as of March 31, 2008 in determining the fair valuation of the Trust’s investments:
 
         
  Valuation
Inputs 		  Investments in
Securities 		 
  Level 1   0  
  Level 2   $125,954,581  
  Level 3   0  
  Total   $125,954,581  

5

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 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
  Chief Executive Officer of
  BlackRock Florida Municipal 2020 Term Trust
 
Date: May 22, 2008

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
  Chief Executive Officer (principal executive officer) of 
  BlackRock Florida Municipal 2020 Term Trust
 
Date: May 22, 2008

 

By: /s/ Neal J. Andrews  
  Neal J. Andrews
  Chief Financial Officer (principal financial officer) of 
  BlackRock Florida Municipal 2020 Term Trust
   
Date: May 22, 2008