House Bill 1867

    Florida House of Representatives - 1999                HB 1867

        By the Committee on General Government Appropriations and
    Representative Sembler





  1                      A bill to be entitled

  2         An act relating to trust funds; creating s.

  3         569.205, F.S.; creating the Department of

  4         Business and Professional Regulation Tobacco

  5         Settlement Trust Fund; providing for sources of

  6         moneys and purposes; providing for reversion of

  7         funds to the Lawton Chiles Endowment Fund for

  8         Children and Elders; providing for future

  9         review and termination or re-creation of the

10         trust fund; providing an effective date.

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

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14         Section 1.  Section 569.205, Florida Statutes, is

15  created to read:

16         569.205  Department of Business and Professional

17  Regulation Tobacco Settlement Trust Fund.--

18         (1)  The Department of Business and Professional

19  Regulation Tobacco Settlement Trust Fund is hereby created

20  within that department. Funds to be credited to the trust fund

21  shall consist of funds disbursed, by nonoperating transfer,

22  from the Department of Banking and Finance Tobacco Settlement

23  Clearing Trust Fund in amounts equal to the annual

24  appropriations made from this trust fund. Funds shall be used

25  as appropriated for any of the purposes that are permitted or

26  required by the tobacco settlement.

27         (2)  Notwithstanding the provisions of s. 216.301 and

28  pursuant to s. 216.351, any unencumbered balance in the trust

29  fund at the end of any fiscal year and any encumbered balance

30  remaining undisbursed on December 31 of the same calendar year

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






    Florida House of Representatives - 1999                HB 1867

    610-229-99






  1  shall revert to the Lawton Chiles Endowment Fund for Children

  2  and Elders.

  3         (3)  The trust fund shall, unless terminated sooner, be

  4  terminated on July 1, 2003; however, prior to the trust fund's

  5  scheduled termination pursuant to the provisions of s.

  6  19(f)(2), Art. III of the State Constitution, the trust fund

  7  shall be reviewed as provided in s. 215.3206(1) and (2).

  8         Section 2.  This act shall take effect July 1, 1999.

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11                          HOUSE SUMMARY

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      Creates the Department of Business and Professional
13    Regulation Tobacco Settlement Trust Fund. Provides for
      its sources of moneys and purposes. Provides for
14    reversion of funds to the Lawton Chiles Endowment Fund
      for Children and Elders. Provides for future review and
15    termination or re-creation of the trust fund.

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