Senate Bill 1318

    Florida Senate - 2000        (NP)                      SB 1318

    By Senator Cowin





    11-919-00                                           See HB 627

  1                      A bill to be entitled

  2         An act relating to trust funds; creating s.

  3         235.21955, F.S.; creating the Lottery Capital

  4         Outlay and Debt Service Trust Fund within the

  5         Department of Education; providing for sources

  6         of funds; providing purposes; providing for

  7         annual carryforward of funds; providing for

  8         transfer of certain funds to the trust fund;

  9         proclaiming that the trust fund is exempt from

10         constitutional termination; providing an

11         effective date.

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

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15         Section 1.  Section 235.21955, Florida Statutes, is

16  created to read:

17         235.21955  Lottery Capital Outlay and Debt Service

18  Trust Fund.--

19         (1)(a)  The Lottery Capital Outlay and Debt Service

20  Trust Fund is hereby created, to be administered by the

21  Department of Education. Funds shall be credited to the trust

22  fund from legislative appropriations and interest earnings.

23  The purpose of the trust fund is to maintain and account for

24  lottery funds appropriated for fixed capital outlay and debt

25  service separately from lottery funds appropriated for current

26  operations.

27         (b)  Notwithstanding the provisions of s. 216.301 and

28  pursuant to s. 216.351, any balance in the trust fund at the

29  end of any fiscal year shall remain in the trust fund and

30  shall be available for carrying out the purposes of the trust

31  fund.

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






    Florida Senate - 2000        (NP)                      SB 1318
    11-919-00                                           See HB 627




  1         (2)  Lottery funds appropriated for fixed capital

  2  outlay and debt service, along with any interest earned

  3  thereon, shall be transferred from the Educational Enhancement

  4  Trust Fund to the Lottery Capital Outlay and Debt Service

  5  Trust Fund.

  6         (3)  Pursuant to the provisions of s. 19(f)(3), Art.

  7  III of the State Constitution, the trust fund is not subject

  8  to termination under s. 19(f)(2), Art. III of the State

  9  Constitution.

10         Section 2.  This act shall take effect upon becoming a

11  law.

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14                       LEGISLATIVE SUMMARY

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      Creates the Lottery Capital Outlay and Debt Service Trust
16    Fund within the Department of Education. Provides for its
      sources of funds and purposes. Provides for annual
17    carryforward of funds. Provides for transfer to the trust
      fund of those lottery funds of the Educational
18    Enhancement Trust Fund appropriated for fixed capital
      outlay and debt service, along with any interest earned
19    thereon. Proclaims that the trust fund is exempt from
      constitutional termination.
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