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House Bill 1271




    Florida House of Representatives - 1997                HB 1271

        By Representative Laurent






  1                      A bill to be entitled

  2         An act relating to trust funds; creating s.

  3         403.8533, F.S.; creating the Drinking Water

  4         Revolving Loan Trust Fund within the Department

  5         of Environmental Protection; specifying the

  6         purposes of the trust fund; providing source of

  7         moneys; providing for future review and

  8         termination or re-creation of the trust fund;

  9         providing an 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 403.8533, Florida Statutes, is

14  created to read:

15         403.8533  Drinking Water Revolving Loan Trust Fund.--

16         (1)  There is created the Drinking Water Revolving Loan

17  Trust Fund to be administered by the Department of

18  Environmental Protection for the purposes of:

19         (a)  Funding for low-interest loans for planning,

20  engineering design, and construction of public drinking water

21  systems and improvements to such systems;

22         (b)  Funding for compliance activities, operator

23  certification programs, and source water protection programs;

24  and

25         (c)  Funding for administering loans by the department.

26         (2)  The trust fund shall be used for the deposit of

27  all moneys awarded by the Federal Government to fund revolving

28  loan programs.  All moneys in the fund that are not needed on

29  an immediate basis for loans shall be invested pursuant to s.

30  215.49. The principal and interest of all loans repaid and

31  investment earnings shall be deposited into this fund.

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CODING: Words stricken are deletions; words underlined are additions.






    Florida House of Representatives - 1997                HB 1271

    103-161-97






  1         (3)(a)  Pursuant to the provisions of s. 19(f)(2), Art.

  2  III of the State Constitution, the trust fund shall, unless

  3  terminated sooner, be terminated on July 1, 2001.

  4         (b)  Prior to its scheduled termination, the trust fund

  5  shall be reviewed as provided in s. 215.3206(1) and (2).

  6         Section 2.  This act shall take effect July 1, 1997.

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  9                          HOUSE SUMMARY

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      Creates the Drinking Water Revolving Loan Trust Fund to
11    be administered by the Department of Environmental
      Protection, and provides its purposes and source of
12    moneys.  Provides for future review and termination or
      re-creation of the trust fund.
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