Senate Bill 2310c1

    Florida Senate - 1998                           CS for SB 2310

    By the Committee on Commerce and Economic Opportunities and
    Senator Myers




    310-1935-98

  1                      A bill to be entitled

  2         An act relating to trust funds; creating the

  3         Work and Gain Economic Self-sufficiency (WAGES)

  4         Trust Fund for the deposit of federal funds

  5         that support the WAGES Program; providing for

  6         the investment and appropriation of trust fund

  7         moneys; providing for future review and

  8         termination or re-creation of the trust fund;

  9         providing a 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.  (1)  The Work and Gain Economic

14  Self-sufficiency (WAGES) Trust Fund is created for the deposit

15  of all federal funds that support the WAGES Program,

16  established under chapter 414, Florida Statutes.

17         (2)  All funds transferred to and retained in the trust

18  fund shall be invested as provided in section 18.125, Florida

19  Statutes. All interest that accrues to the trust fund shall be

20  deposited into the trust fund and is subject to appropriation

21  by the Legislature.

22         (3)  Pursuant to Section 19(f)(2), Article III of the

23  State Constitution, the trust fund shall, unless terminated

24  sooner, be terminated on July 1, 2002. Prior to its scheduled

25  termination, the trust fund shall be reviewed as provided in

26  section 215.3206(1) and (2), Florida Statutes.

27         Section 2.  This act shall take effect upon becoming a

28  law, but it shall not take effect unless it is enacted by at

29  least a three-fifths vote of the membership of each house of

30  the Legislature.

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






    Florida Senate - 1998                           CS for SB 2310
    310-1935-98




  1          STATEMENT OF SUBSTANTIAL CHANGES CONTAINED IN
                       COMMITTEE SUBSTITUTE FOR
  2                         Senate Bill 2310

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  4  This committee substitute creates the Work and Gain Economic
    Self-sufficiency (WAGES) Trust Fund for the sole deposit of
  5  federal funds that support the WAGES Program.

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