House Bill 1191

    Florida House of Representatives - 1999                HB 1191

        By the Committee on Education Appropriations and
    Representative Wise





  1                      A bill to be entitled

  2         An act relating to trust funds; re-creating the

  3         Student Loan Guaranty Reserve Fund within the

  4         Department of Education without modification;

  5         carrying forward current balances and

  6         continuing current sources and uses thereof;

  7         providing an effective date.

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  9         WHEREAS, the Legislature wishes to extend the life of

10  the Student Loan Guaranty Reserve Fund within the Department

11  of Education, which is otherwise scheduled to be terminated

12  pursuant to constitutional mandate, and

13         WHEREAS, the Legislature has reviewed the fund before

14  its scheduled termination date and has found that it continues

15  to meet an important public purpose, and

16         WHEREAS, the Legislature has found that existing public

17  policy concerning the fund sets adequate parameters for its

18  use, NOW, THEREFORE,

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

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22         Section 1.  (1)  The Student Loan Guaranty Reserve Fund

23  within the Department of Education, FLAIR number 48-2-718,

24  which was created by section 240.431, Florida Statutes, and

25  which is to be terminated pursuant to Section 19(f), Article

26  III of the State Constitution on November 4, 2000, is

27  re-created.

28         (2)  All current balances of the fund are carried

29  forward, and all current sources and uses of the fund are

30  continued.

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






    Florida House of Representatives - 1999                HB 1191

    609-126-99






  1         Section 2.  This act shall take effect November 4,

  2  2000.

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  5                          HOUSE SUMMARY

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      Re-creates the Student Loan Guaranty Reserve Fund within
  7    the Department of Education.

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