Senate Bill 1964c1

    Florida Senate - 1999                           CS for SB 1964

    By the Committee on Fiscal Policy and Senator Casas





    309-1906-99

  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 Department of Banking and Finance

  8         Tobacco Settlement Clearing Trust Fund;

  9         providing for future review and termination or

10         re-creation of the trust fund; providing an

11         effective date.

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

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15         Section 1.  Section 569.205, Florida Statutes, is

16  created to read:

17         569.205  Department of Business and Professional

18  Regulation Tobacco Settlement Trust Fund.--

19         (1)  The Department of Business and Professional

20  Regulation Tobacco Settlement Trust Fund is hereby created

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

22  shall consist of funds disbursed, by nonoperating transfer,

23  from the Department of Banking and Finance Tobacco Settlement

24  Clearing Trust Fund in amounts equal to the annual

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

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

27  required by the tobacco settlement.

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

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

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

31  remaining undisbursed on December 31 of the same calendar year

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






    Florida Senate - 1999                           CS for SB 1964
    309-1906-99




  1  shall revert to the Department of Banking and Finance Tobacco

  2  Settlement Clearing Trust Fund.

  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.

  9

10          STATEMENT OF SUBSTANTIAL CHANGES CONTAINED IN
                       COMMITTEE SUBSTITUTE FOR
11                             SB 1964

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13  The bill creates the Department of Business and Professional
    Regulation Tobacco Settlement Trust Fund.
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    Funds credited to the trust fund are to consist of funds
15  disbursed, by nonoperating transfer, from the Department of
    Banking and Finance Tobacco Settlement Clearing Trust Fund in
16  amounts equal to the annual appropriations. Funds are to be
    used for the purposes that are permitted or required by the
17  tobacco settlement.

18  Provides for the reversion of funds to the Department of
    Banking and Finance Tobacco Settlement Clearing Trust Fund.
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    The trust fund will be terminated on July 1, 2003 unless
20  terminated sooner by action of the Legislature.

21  The act is effective July 1, 1999.

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