CODING: Words stricken are deletions; words underlined are additions.
House Bill 0451




    Florida House of Representatives - 1997                 HB 451

        By Representative Ziebarth






  1                      A bill to be entitled

  2         An act relating to the Public Education Capital

  3         Outlay and Debt Service Trust Fund; amending

  4         ss. 212.20 and 235.42, F.S.; providing for

  5         deposit of a portion of the revenues from the

  6         tax on sales, use, and other transactions

  7         imposed by chapter 212, F.S., in the trust

  8         fund; providing an effective date.

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

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12         Section 1.  Paragraph (f) of subsection (6) of section

13  212.20, Florida Statutes, 1996 Supplement, is redesignated

14  paragraph (g), and a new paragraph (f) is added to said

15  subsection to read:

16         212.20  Funds collected, disposition; additional powers

17  of department; operational expense; refund of taxes

18  adjudicated unconstitutionally collected.--

19         (6)  Distribution of all proceeds under this part shall

20  be as follows:

21         (f)  An amount representing one-fifth of the proceeds

22  of the sixth cent of tax levied under this chapter shall be

23  reallocated to the Public Education Capital Outlay and Debt

24  Service Trust Fund.

25         Section 2.  Paragraph (a) of subsection (2) of section

26  235.42, Florida Statutes, is amended to read:

27         235.42  Educational and ancillary plant construction

28  funds; Public Education Capital Outlay and Debt Service Trust

29  Fund; allocation of funds.--

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






    Florida House of Representatives - 1997                 HB 451

    559-131-97






  1         (2)(a)  The Public Education Capital Outlay and Debt

  2  Service Trust Fund shall be comprised of the following

  3  sources, which are hereby appropriated to the trust fund:

  4         1.  Proceeds, premiums, and accrued interest from the

  5  sale of public education bonds and that portion of the

  6  revenues accruing from the gross receipts tax as provided by

  7  s. 9(a)(2), Art. XII of the State Constitution, as amended,

  8  interest on investments, and federal interest subsidies.

  9         2.  A portion of the proceeds of the tax imposed by

10  chapter 212, as specified in s. 212.20(6)(f).

11         3.2.  General revenue funds appropriated to the fund

12  for educational capital outlay purposes.

13         4.3.  All capital outlay funds previously appropriated

14  and certified forward pursuant to s. 216.301.

15         Section 3.  This act shall take effect July 1, 1997.

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18                          HOUSE SUMMARY

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      Provides for deposit of an amount equal to one-fifth of
20    the proceeds of the sixth cent of sales tax in the Public
      Education Capital Outlay and Debt Service Trust Fund.
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