Senate Bill sb1332

    Florida Senate - 2007                                  SB 1332

    By Senator Wise





    5-1825-07

  1                      A bill to be entitled

  2         An act relating to trust funds; creating s.

  3         1001.281, F.S.; creating the Operating Trust

  4         Fund within the Department of Education;

  5         providing for sources of funds and purposes;

  6         providing for annual carryforward of funds;

  7         providing for future review and termination or

  8         re-creation of the trust fund; providing an

  9         effective date.

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11  Be It Enacted by the Legislature of the State of Florida:

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13         Section 1.  Section 1001.281, Florida Statutes, is

14  created to read:

15         1001.281  Operating Trust Fund.--

16         (1)  The Operating Trust Fund, FLAIR number 48-2-510,

17  is created within the Department of Education.

18         (2)  The fund is established for use as a depository

19  for funds to be used for program operations funded by program

20  revenues. Moneys to be credited to the trust fund include, but

21  are not limited to, revenues received from the leasing of

22  available transponder time for the state's satellite

23  transponder resources.

24         (3)  Notwithstanding s. 216.301 and pursuant to s.

25  216.351, any balance in the trust fund at the end of any

26  fiscal year shall remain in the trust fund at the end of the

27  year and shall be available for carrying out the purpose of

28  the trust fund.

29         (4)  In accordance with s. 19(f)(2), Art. III of the

30  State Constitution, the Operating Trust Fund shall, unless

31  terminated sooner, be terminated on July 1, 2012. Before its

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    Florida Senate - 2007                                  SB 1332
    5-1825-07




 1  scheduled termination, the trust fund shall be reviewed as

 2  provided in s. 215.3206(1) and (2).

 3         Section 2.  This act shall take effect July 1, 2008.

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 6                          SENATE SUMMARY

 7    Creates the Operating Trust Fund within the Department of
      Education for the purpose of funding program operations.
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CODING: Words stricken are deletions; words underlined are additions.