Senate Bill 0502

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



    Florida Senate - 1999                                   SB 502

    By the Committee on Fiscal Policy





    301-294A-99

  1                      A bill to be entitled

  2         An act relating to the re-creation of the

  3         Florida Investment Incentive Trust Fund without

  4         modification; re-creating the trust fund;

  5         carrying forward current balances and

  6         continuing current sources and uses thereof;

  7         providing an effective date.

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  9         WHEREAS, the Legislature wishes to extend the life of

10  the Florida Investment Incentive Trust Fund, which is

11  otherwise scheduled to be terminated pursuant to

12  constitutional mandate, and

13         WHEREAS, the Legislature has reviewed the trust fund

14  before its scheduled termination date and has found that it

15  continues to meet an important public purpose, and

16         WHEREAS, the Legislature has found that existing public

17  policy concerning the trust fund sets adequate parameters for

18  its use, NOW, THEREFORE,

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

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22         Section 1.  (1)  The Florida Investment Incentive Trust

23  Fund, FLAIR number 31-2-293, which was created within the

24  Executive Office of the Governor and which is to be terminated

25  pursuant to Section 19(f), Article III of the State

26  Constitution on November 4, 2000, is re-created.

27         (2)  All current balances of the trust fund are carried

28  forward and all current sources and uses of the trust fund are

29  continued.

30         Section 2.  This act shall take effect November 4,

31  2000.

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






    Florida Senate - 1999                                   SB 502
    301-294A-99




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  2                          SENATE SUMMARY

  3    Recreates the Florida Investment Incentive Trust Fund
      within the Executive Office of the Governor.
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