Senate Bill 1968e1

    CS for SB 1968                           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

  7         Department of Banking and Finance Tobacco

  8         Settlement Clearing Trust Fund; providing for

  9         future review and termination or re-creation of

10         the 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 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.

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 Department of Banking and Finance Tobacco

30  Settlement Clearing Trust Fund.

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






    CS for SB 1968                           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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