SB 1026 — Operating Trust Fund/Department of Education
by Budget Subcommittee on Education PreK-12 Appropriations
This summary is provided for information only and does not represent the opinion of any Senator, Senate Officer, or Senate Office.
Prepared by: Budget Subcommittee on Education Pre-K - 12 Appropriations Committee (BEA)
In accordance with s. 19(f)(2), Art. III. State Constitution, the Operating Trust Fund shall, unless terminated sooner, be terminated on July 1, 2012. Before its scheduled termination, the trust fund shall be reviewed as provided in s. 215.3206 (1) and (2), F.S.
The Operating Trust Fund is used as a depository for funds to be used for program operations funded by program revenues, as provided in s. 1001.281, F.S. Moneys to be credited to the trust fund include, but are not limited to, revenues received from fees for General Equivalency Diploma (GED) testing and the leasing of available time for the state’s satellite transponder resources. The revenue for this fund for the 2010-11 fiscal year is $1,538,201.
The effect of this bill (Chapter 2011-23, L.O.F.) is to recreate the Operating Trust Fund effective July 1, 2011, based on a review as required in s. 215.3206 (1) and (2), F.S., to be used as provided in s. 1001.281, F.S.
These provisions were approved by the Governor and take effect July 1, 2011.
Vote: Senate 40-0; House 117-0