Senate Bill 2106

    Florida Senate - 1998                                  SB 2106

    By Senator Williams





    4-1545-98

  1                      A bill to be entitled

  2         An act creating the Federal Equitable Sharing

  3         Trust Fund within the office of the

  4         Comptroller; providing for revenues received

  5         from the Federal Equitable Sharing Program to

  6         be deposited into the trust fund; providing for

  7         the administration of the trust fund;

  8         prohibiting the commingling of trust fund

  9         moneys with other state funds; providing that

10         the trust fund is established to meet the

11         requirements of the United States Department of

12         Justice and the United States Department of

13         Treasury; providing a contingent effective

14         date.

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16  Be It Enacted by the Legislature of the State of Florida:

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18         Section 1.  Federal Equitable Sharing Trust Fund.--

19         (1)  There is created the Federal Equitable Sharing

20  Trust Fund within the office of the Comptroller. Revenues

21  received from the Federal Equitable Sharing Program shall be

22  deposited into the trust fund to be used for the purposes

23  cited in the Federal Equitable Sharing Guides of the United

24  States Department of Justice and the United States Department

25  of Treasury.

26         (2)  The Division of Financial Investigations of the

27  Department of Banking and Finance shall administer the trust

28  fund, which shall be an interest-bearing account, and the

29  interest earned shall be used for the same purposes as the

30  principal funds. The trust fund shall contain only revenues

31  received from the Federal Equitable Sharing Program and

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






    Florida Senate - 1998                                  SB 2106
    4-1545-98




  1  interest on those revenues. Revenues in the trust fund may not

  2  be commingled with other state funds.

  3         (3)  The Federal Equitable Sharing Trust Fund is

  4  established to meet the requirement of the United States

  5  Department of Justice and the United States Department of

  6  Treasury to maintain the revenues received through the Federal

  7  Equitable Sharing Program separately from state revenues.

  8         Section 2.  This act shall take effect July 1, 1998,

  9  but it shall not take effect unless it is enacted by at least

10  a three-fifths vote of the membership of each house of the

11  Legislature.

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14                          SENATE SUMMARY

15    Creates the Federal Equitable Sharing Trust Fund within
      the office of the Comptroller for the deposit of revenues
16    received from the Federal Equitable Sharing Program.
      Provides for the Division of Financial Investigations of
17    the Department of Banking and Finance to administer the
      trust fund. Prohibits commingling trust fund moneys with
18    other state funds.

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