House Bill 4461
CODING: Words stricken are deletions; words underlined are additions.
Florida House of Representatives - 1998 HB 4461
By Representative Fasano
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 Commissioner of Education; providing for
6 sources of moneys and purposes; providing that
7 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 Commissioner of Education. Funds shall
18 be credited to the trust as provided in s. 240.555, to be used
19 for the purposes of the Florida Higher Education Savings
20 Program as set forth therein. Pursuant to s. (f)(3), Art. III
21 of the State Constitution, the trust is not subject to
22 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 House of Representatives - 1998 HB 4461
565-146A-98
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2 HOUSE SUMMARY
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Creates the Florida Higher Education Savings Trust, to be
4 administered by the Commissioner of Education, and
provides for its sources of moneys and purposes. Provides
5 that the trust is exempt from constitutional termination
requirements.
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