House Bill 1893e1

                                      HB 1893, First Engrossed/ntc



  1                      A bill to be entitled

  2         An act relating to trust funds; creating s.

  3         430.42, F.S.; creating the Department of

  4         Elderly Affairs Tobacco Settlement Trust Fund;

  5         providing for sources of moneys and purposes;

  6         providing for reversion of funds to the Lawton

  7         Chiles Endowment Fund for Children and Elders;

  8         providing for future review and termination or

  9         re-creation of the trust fund; providing an

10         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 430.42, Florida Statutes, is

15  created to read:

16         430.42  Department of Elderly Affairs Tobacco

17  Settlement Trust Fund.--

18         (1)  The Department of Elderly Affairs Tobacco

19  Settlement Trust Fund is hereby created within that

20  department. Funds to be credited to the trust fund shall

21  consist of funds disbursed, by nonoperating transfer, from the

22  Department of Banking and Finance Tobacco Settlement Clearing

23  Trust Fund in amounts equal to the annual appropriations made

24  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 1893, 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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