Senate Bill 0528

    Florida Senate - 1999                                   SB 528

    By the Committee on Fiscal Policy





    301-262A-99

  1                      A bill to be entitled

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

  3         Public Deposits 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 Public Deposits 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 Public

14  Deposits Trust Fund within the Department of Insurance before

15  its scheduled termination date and has found that it continues

16  to meet an important public purpose, and

17         WHEREAS, the Legislature has found that existing public

18  policy concerning the Public Deposits Trust Fund within the

19  Department of Insurance sets adequate parameters for its use,

20  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 Public Deposits Trust Fund within

25  the Department of Insurance, FLAIR number 46-2-545, which was

26  created by section 280.09, Florida Statutes, and which is to

27  be terminated pursuant to Section 19(f), Article III of the

28  State Constitution on November 4, 2000, is re-created.

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

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

31  are continued.

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






    Florida Senate - 1999                                   SB 528
    301-262A-99




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

  2  2000.

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  5                          SENATE SUMMARY

  6    Re-creates the Public Deposit Trust Fund within the
      Department of Insurance.
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