SB 2522-A                                        First Engrossed
       
       
       
       
       
       
       
       
       20152522Ae1
       
    1                        A bill to be entitled                      
    2         An act relating to trust funds; creating s. 20.106,
    3         F.S.; creating the Land Acquisition Trust Fund within
    4         the Department of State; providing for the purpose of
    5         the trust fund and sources of funds; requiring the
    6         department to maintain the integrity of such funds;
    7         providing for disposition of funds from reversions or
    8         reductions in budget authority from the trust fund;
    9         requiring that title to lands or related property
   10         interests acquired be vested in the Board of Trustees
   11         of the Internal Improvement Trust Fund; requiring the
   12         department or its designee to manage lands or related
   13         property interests in accordance with the purposes set
   14         forth in s. 28, Article X of the State Constitution;
   15         providing a restriction on how funds may be invested;
   16         providing for future review and termination or re
   17         creation of the trust fund; providing for contingent
   18         retroactive operation; providing effective dates.
   19          
   20  Be It Enacted by the Legislature of the State of Florida:
   21  
   22         Section 1. Section 20.106, Florida Statutes, is created to
   23  read:
   24         20.106Land Acquisition Trust Fund.—
   25         (1) The Land Acquisition Trust Fund is created within the
   26  Department of State. The trust fund is established for use as a
   27  depository for funds received from the Land Acquisition Trust
   28  Fund within the Department of Environmental Protection and for
   29  expenditure of such funds for the purposes set forth in s. 28,
   30  Art. X of the State Constitution.
   31         (2) The Department of State must maintain the integrity of
   32  such moneys transferred from the Department of Environmental
   33  Protection. Any transferred moneys available from reversions or
   34  reductions in budget authority shall be transferred back to the
   35  Land Acquisition Trust Fund within the Department of
   36  Environmental Protection within 15 days after such reversion or
   37  reduction and shall be available for future appropriation for
   38  the purposes set forth in s. 28, Art. X of the State
   39  Constitution.
   40         (3) If expenditures from the trust fund will result in
   41  state ownership of land or related property interests, title
   42  shall be vested in the Board of Trustees of the Internal
   43  Improvement Trust Fund as required under chapter 253. Such
   44  acquisition of land or related property interests shall be by
   45  voluntary, negotiated acquisition and, if title is to be vested
   46  in the Board of Trustees of the Internal Improvement Trust Fund,
   47  is subject to the acquisition procedures of s. 253.025.
   48  Acquisition costs include purchase prices and costs and fees
   49  associated with title work, surveys, and appraisals required to
   50  complete an acquisition. The Department of State or its designee
   51  shall manage such lands or related property interests in
   52  accordance with the purposes set forth in s. 28, Art. X of the
   53  State Constitution. Other uses, not contrary to such purposes,
   54  may be authorized.
   55         (4) Moneys in the trust fund may not be invested as
   56  provided in s. 17.61, but shall be retained in the trust fund
   57  for investment with interest appropriated to the General Revenue
   58  Fund as provided in s. 17.57.
   59         (5) In accordance with s. 19(f)(2), Art. III of the State
   60  Constitution, the Land Acquisition Trust Fund within the
   61  Department of State shall, unless terminated sooner, be
   62  terminated on July 1, 2019. Before its scheduled termination,
   63  the trust fund shall be reviewed as provided in s. 215.3206.
   64         Section 2. Except as otherwise expressly provided in this
   65  act and except for this section, which shall take effect upon
   66  this act becoming a law, this act shall take effect July 1,
   67  2015, or, if this act fails to become a law until after that
   68  date, it shall take effect upon becoming a law and operate
   69  retroactively to July 1, 2015.