House Bill 1293

    Florida House of Representatives - 1999                HB 1293

        By the Committee on General Government Appropriations and
    Representative Sembler





  1                      A bill to be entitled

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

  3         Securities Guaranty Fund within the Department

  4         of Banking and Finance 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 Securities Guaranty Fund within the Department of Banking

11  and Finance, 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 Securities Guaranty Fund within

23  the Department of Banking and Finance, FLAIR number 44-2-626,

24  which was created by section 517.131, 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 1293

    610-167-99






  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 Securities Guaranty Fund within the
  7    Department of Banking and Finance.

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