Senate Bill 2144

    Florida Senate - 1998                                 SJR 2144

    By Senator Myers





    27-1109-98

  1                 Senate Joint Resolution No.     

  2         A joint resolution proposing the creation of

  3         Section 19 of Article VII of the State

  4         Constitution to provide for deposit and

  5         investment of moneys the state receives from

  6         settling the lawsuit against the tobacco

  7         industry.

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  9  Be It Resolved by the Legislature of the State of Florida:

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11         That the creation of Section 19 of Article VII of the

12  State Constitution is agreed to and shall be submitted to the

13  electors of this state for approval or rejection at the next

14  general election or at an earlier general election

15  specifically authorized by law for that purpose:

16                           ARTICLE VII

17                       FINANCE AND TAXATION

18         SECTION 19.  Tobacco lawsuit settlement proceeds; trust

19  fund; deposit; investment.--The tobacco settlement trust fund

20  is created.  All moneys received by the state as a result of

21  the settlement of its lawsuit against the tobacco industry

22  shall be deposited into the tobacco settlement trust fund. The

23  state board of administration shall invest the moneys in the

24  trust fund and shall deposit the annual interest earned from

25  such investment into the general revenue fund to be

26  appropriated by the legislature.

27         BE IT FURTHER RESOLVED that the following statement be

28  placed on the ballot:

29                     CONSTITUTIONAL AMENDMENT

30                     ARTICLE VII, SECTION 19

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






    Florida Senate - 1998                                 SJR 2144
    27-1109-98




  1         TOBACCO LAWSUIT SETTLEMENT PROCEEDS; DEPOSIT;

  2  INVESTMENT; USE OF PROCEEDS.--Proposing an amendment to the

  3  State Constitution to require the deposit of moneys that the

  4  state receives from settling its lawsuit against the tobacco

  5  industry into a trust fund that will be invested by the State

  6  Board of Administration, the proceeds of which investment will

  7  be deposited into the General Revenue Fund for use by the

  8  Legislature.

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