Senate Bill 0520

    Florida Senate - 1999                                   SB 520

    By the Committee on Fiscal Policy





    301-270A-99

  1                      A bill to be entitled

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

  3         Deferred Compensation 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 Deferred Compensation Trust Fund within the Department of

11  Insurance, which is otherwise scheduled to be terminated

12  pursuant to constitutional mandate, and

13         WHEREAS, the Legislature has reviewed the Deferred

14  Compensation Trust Fund within the Department of Insurance

15  before its scheduled termination date and has found that it

16  continues to meet an important public purpose, and

17         WHEREAS, the Legislature has found that existing public

18  policy concerning the Deferred Compensation Trust Fund within

19  the Department of Insurance sets adequate parameters for its

20  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 Deferred Compensation Trust Fund

25  within the Department of Insurance, FLAIR number 46-2-155,

26  which was created by section 112.215, Florida Statutes, and

27  which is to be terminated pursuant to Section 19(f), Article

28  III of the State Constitution on November 4, 2000, is

29  re-created.

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






    Florida Senate - 1999                                   SB 520
    301-270A-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.

  6

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  8                          SENATE SUMMARY

  9    Re-creates the Deferred Compensation Trust Fund within
      the Department of Insurance.
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