Senate Bill 0524

    Florida Senate - 1999                                   SB 524

    By the Committee on Fiscal Policy





    301-259A-99

  1                      A bill to be entitled

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

  3         Insurance Commissioner's Regulatory Trust Fund

  4         within the Department of Insurance without

  5         modification; carrying forward current balances

  6         and continuing current sources and uses

  7         thereof; providing an effective date.

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  9         WHEREAS, the Legislature wishes to extend the life of

10  the Insurance Commissioner's Regulatory Trust Fund within the

11  Department of Insurance, which is otherwise scheduled to be

12  terminated pursuant to constitutional mandate, and

13         WHEREAS, the Legislature has reviewed the Insurance

14  Commissioner's Regulatory 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 Insurance Commissioner's Regulatory

19  Trust Fund within the Department of Insurance sets adequate

20  parameters 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 Insurance Commissioner's

25  Regulatory Trust Fund within the Department of Insurance,

26  FLAIR number 46-2-393, which was created by section 624.523,

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

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

29  November 4, 2000, is re-created.

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






    Florida Senate - 1999                                   SB 524
    301-259A-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    Recreates the Insurance Commissioner's Regulatory Trust
      Fund.
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