House Bill 2077

    Florida House of Representatives - 1999               HJR 2077

        By Representative Putnam






  1                      House Joint Resolution

  2         A joint resolution creating Section 19 of

  3         Article VII of the State Constitution to

  4         establish the Lawton Chiles Endowment Fund for

  5         Children and Elders as a permanent endowment in

  6         support of certain programs benefiting children

  7         and the elderly.

  8

  9  Be It Resolved by the Legislature of the State of Florida:

10

11         That the creation of Section 19 of Article VII of the

12  State Constitution set forth below is agreed to and shall be

13  submitted to the electors of Florida for approval or rejection

14  at the general election to be held in November 2000:

15                           ARTICLE VII

16                       FINANCE AND TAXATION

17         SECTION 19.  Lawton Chiles Endowment Fund for Children

18  and Elders.--

19         (a)  There is hereby established the Lawton Chiles

20  Endowment Fund for Children and Elders, to be administered as

21  provided by general law. The purpose of the fund is to create

22  a permanent endowment to help fund the state children's health

23  insurance program, child welfare programs, and community-based

24  service initiatives for the elderly.

25         (b)  Funds from the endowment fund are to be used to

26  enhance the level of funding for such programs and initiatives

27  above the level of funding that would otherwise be available

28  but for the existence of the endowment fund.

29         (c)  Funds paid to the state from the settlement of

30  claims related to the manufacture, sale, or distribution of

31  tobacco products shall be deposited into the endowment fund

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






    Florida House of Representatives - 1999               HJR 2077

    584-140-99






  1  until the sum of $1,932,100,000 has been deposited in the

  2  endowment fund, which shall be accomplished not later than

  3  June 30, 2003. Thereafter, the proceeds of the tobacco

  4  settlement paid to the state that are nonrecurring, as

  5  determined by the legislature, shall be deposited into the

  6  endowment fund on an annual basis.

  7         (d)  Funds deposited into the endowment fund shall be

  8  invested in accordance with general law, and the income

  9  derived therefrom shall remain with the endowment fund.

10         (e)  Funds available from the endowment fund for

11  distribution shall only be earnings received on the endowment

12  fund and reversions to principal. Funds deposited pursuant to

13  subsection (c) shall not be expended, except as may be

14  required by federal law.

15         BE IT FURTHER RESOLVED that in accordance with the

16  requirements of section 101.161, Florida Statutes, the

17  substance of the amendment proposed herein shall appear on the

18  ballot as follows:

19                   LAWTON CHILES ENDOWMENT FUND

20                     FOR CHILDREN AND ELDERS

21         Creates the Lawton Chiles Endowment Fund for Children

22  and Elders as a permanent endowment to help fund the state

23  children's health insurance program, child welfare programs,

24  and community-based service initiatives for the elderly.

25  Provides for deposit into the fund of a portion of funds paid

26  to the state from the tobacco settlement. Prohibits

27  expenditure of endowment funds other than investment earnings

28  and reversions to principal, unless otherwise required by

29  federal law.

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