House Bill 1867e1

                                      HB 1867, First Engrossed/ntc



  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.

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

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

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

28  remaining undisbursed on December 31 of the same calendar year

29  shall revert to the Lawton Chiles Endowment Fund for Children

30  and Elders.

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






                                      HB 1867, First Engrossed/ntc



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

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

  3  scheduled termination pursuant to the provisions of s.

  4  19(f)(2), Art. III of the State Constitution, the trust fund

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

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

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