Senate Bill 0516

    Florida Senate - 1999                                   SB 516

    By the Committee on Fiscal Policy





    301-263A-99

  1                      A bill to be entitled

  2         An act relating to trust funds; re-creating the

  3         State Property Insurance Trust Fund within the

  4         Department of Insurance without modification;

  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 State Property Insurance Trust Fund within the Department

11  of Insurance, which is otherwise scheduled to be terminated

12  pursuant to constitutional mandate, and

13         WHEREAS, the Legislature has reviewed the State

14  Property Insurance Trust Fund within the Department of

15  Insurance before its scheduled termination date and has found

16  that it continues to meet an important public purpose, and

17         WHEREAS, the Legislature has found that existing public

18  policy concerning the State Property Insurance Trust Fund

19  within the Department of Insurance sets adequate parameters

20  for its use, NOW, THEREFORE,

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

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24         Section 1.  (1)  The State Property Insurance Trust

25  Fund within the Department of Insurance, FLAIR number

26  46-2-291, which was created by section 284.01, Florida

27  Statutes, and which is to be terminated pursuant to Section

28  19(f), Article III of the State Constitution on November 4,

29  2000, is re-created.

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






    Florida Senate - 1999                                   SB 516
    301-263A-99




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

  2  forward, and all current sources and uses of the trust fund

  3  are continued.

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

  5  2000.

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  8                          SENATE SUMMARY

  9    Re-creates the State Property Insurance Trust Fund within
      the Department of Insurance.
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