SENATE AMENDMENT

    Bill No. CS for SB 1352

    Amendment No.    

                            CHAMBER ACTION
              Senate                               House
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11  Senator Gutman moved the following amendment:

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13         Senate Amendment (with title amendment) 

14         On page 1, lines 21-24, delete those lines

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16  and insert:

17         Section 1.  Subsections (1) and (6) of section 215.44,

18  Florida Statutes, are amended to read:

19         215.44  Board of Administration; powers and duties in

20  relation to investment of trust funds.--

21         (1)  Except when otherwise specifically provided by the

22  State Constitution and subject to any limitations of the trust

23  agreement relating to a trust fund, the Board of

24  Administration, hereinafter sometimes referred to as "board,"

25  composed of the Governor as chair, the Treasurer, and the

26  Comptroller, shall invest all the funds in the System Trust

27  Fund, as defined in s. 121.021(36), and all other funds

28  specifically required by law to be invested by the board

29  pursuant to ss. 215.44-215.53 to the fullest extent that is

30  consistent with the cash requirements, trust agreement, and

31  investment objectives of the fund. Notwithstanding any other

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                                                  SENATE AMENDMENT

    Bill No. CS for SB 1352

    Amendment No.    





 1  law to the contrary, the State Board of Administration may

 2  invest any funds of any state agency or any unit of local

 3  government pursuant to the terms of a trust agreement with the

 4  head of the state agency or the governing body of the unit of

 5  local government, which trust agreement shall govern the

 6  investment of such funds, provided that the board shall

 7  approve the undertaking of such investment before execution of

 8  the trust agreement by the State Board of Administration. The

 9  funds and the earnings therefrom are exempt from the service

10  charge imposed by s. 215.20. As used in this subsection, the

11  term "state agency" has the same meaning as that provided in

12  s. 216.001, and the terms "governing body" and "unit of local

13  government" have the same meaning as that provided in s.

14  218.403.

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17  ================ T I T L E   A M E N D M E N T ===============

18  And the title is amended as follows:

19         On page 1, line 3, after the semicolon,

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21  insert:

22         authorizing the State Board of Administration

23         to invest funds of a state agency or unit of

24         local government under certain circumstances;

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