Senate Bill 1968

    Florida Senate - 1999                                  SB 1968

    By Senator Casas





    39-1495-99

  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.

11

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

13

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 created within that department. Funds

20  to be credited to the trust fund shall consist of funds

21  disbursed, by nonoperating transfer, from the Department of

22  Banking and Finance Tobacco Settlement Clearing Trust Fund in

23  amounts equal to the annual appropriations made from this

24  trust fund. Funds shall be used as appropriated for any of the

25  purposes that are permitted or required by the tobacco

26  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

31

                                  1

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






    Florida Senate - 1999                                  SB 1968
    39-1495-99




  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.

  9

10            *****************************************

11                       LEGISLATIVE SUMMARY

12
      Creates the Department of Elderly Affairs Tobacco
13    Settlement Trust Fund. Provides for its sources of moneys
      and purposes. Provides for reversion of funds to the
14    Lawton Chiles Endowment Fund for Children and Elders.
      Provides for future review and termination or re-creation
15    of the trust fund.

16

17

18

19

20

21

22

23

24

25

26

27

28

29

30

31

                                  2