Senate Bill 2020
CODING: Words stricken are deletions; words underlined are additions.
Florida Senate - 1998 SB 2020
By Senator Horne
6-1699-98 See HB
1 A bill to be entitled
2 An act relating to trust funds; creating s.
3 240.557, F.S.; creating the Florida Higher
4 Education Savings Trust, to be administered by
5 the State Board of Administration; providing
6 for sources of moneys and purposes; providing
7 that the trust is exempt from constitutional
8 termination requirements; providing a
9 contingent 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 240.557, Florida Statutes, is
14 created to read:
15 240.557 Florida Higher Education Savings Trust.--The
16 Florida Higher Education Savings Trust is hereby created, to
17 be administered by the State Board of Administration. Funds
18 shall be credited to the trust as provided in s. 240.555, to
19 be used for the purposes of the Florida Higher Education
20 Savings Program as set forth therein. Pursuant to s. (f)(3),
21 Art. III of the State Constitution, the trust is not subject
22 to termination under s. (f)(2), Art. III of the State
23 Constitution.
24 Section 2. This act shall take effect upon becoming a
25 law, if HB .... or similar legislation is adopted in the same
26 legislative session or an extension thereof.
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CODING: Words stricken are deletions; words underlined are additions.
Florida Senate - 1998 SB 2020
6-1699-98 See HB
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2 HOUSE SUMMARY
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Creates the Florida Higher Education Savings Trust, to be
4 administered by the State Board of Administration, and
provides for its sources of moneys and purposes. Provides
5 that the trust is exempt from constitutional termination
requirements.
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