Senate Bill 1964e1

    CS for SB 1964                           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 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.

12

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

14

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.

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

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

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

29  remaining undisbursed on December 31 of the same calendar year

30  shall revert to the Department of Banking and Finance Tobacco

31  Settlement Clearing Trust Fund.


                                  1

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






    CS for SB 1964                           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.

  7

  8

  9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

26

27

28

29

30

31


                                  2