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The Florida Senate

1998 Florida Statutes

Title XVI EDUCATION
Chapter 236 FINANCE AND TAXATION; SCHOOLS Entire Chapter
SECTION 12295
Florida School Improvement and Academic Achievement Trust Fund.

1236.12295  Florida School Improvement and Academic Achievement Trust Fund.--The Florida School Improvement and Academic Achievement Trust Fund is hereby created, to be administered by the Department of Education. Funds shall be credited to the trust fund as provided in chapter 95-270, Laws of Florida, or similar legislation, to be used for the purposes set forth therein.

History.--s. 1, ch. 95-271.

1Note.--Section 2, ch. 95-271, provides that:

"(1)  Pursuant to the provisions of s. 19(f)(2), Art. III of the State Constitution, the Florida School Improvement and Academic Achievement Trust Fund shall, unless terminated sooner, be terminated on July 1, 1999.

"(2)  Prior to the regular legislative session immediately preceding the date on which the trust fund is scheduled to be terminated, the Department of Education and the Governor shall recommend to the President of the Senate and the Speaker of the House of Representatives whether the trust fund should be allowed to terminate or should be re-created. These recommendations shall be based on a review of the purpose and use of the trust fund and a determination of whether the trust fund will continue to be necessary. A recommendation to re-create the trust fund may include suggested modifications to the purpose, sources of receipts, and allowable expenditures for the trust fund. The Department of Education's recommendation shall be made as a part of its legislative budget request to the Legislature pursuant to s. 216.023, Florida Statutes. The Governor's recommendation shall be made as a part of the recommended budget presented to the Legislature pursuant to s. 216.162, Florida Statutes.

"(3)  If the trust fund is terminated, the Department of Education shall pay any outstanding debts or obligations of the trust fund as soon as practicable and the Comptroller shall close out and remove the trust fund from the various state accounting systems, using generally accepted accounting practices concerning warrants outstanding, assets, and liabilities."