House Bill 2299

    Florida House of Representatives - 2000               HJR 2299

        By Representative Logan






  1                      House Joint Resolution

  2         A joint resolution proposing the creation of

  3         Section 19 of Article VII of the State

  4         Constitution to establish the Tobacco

  5         Settlement Endowment Trust Fund as a permanent

  6         endowment for the provision of vital services.

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  8  Be It Resolved by the Legislature of the State of Florida:

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10         That the creation of Section 19 of Article VII of the

11  State Constitution set forth below is agreed to and shall be

12  submitted to the electors of Florida for approval or rejection

13  at the general election to be held in November 2000:

14                           ARTICLE VII

15                       FINANCE AND TAXATION

16         SECTION 19.  Tobacco Settlement Endowment Trust Fund.--

17         (a)  There is hereby established the Tobacco Settlement

18  Endowment Trust Fund, which shall not be subject to

19  termination pursuant to Article III, Section 19(f). The

20  purpose of the Tobacco Settlement Endowment Trust Fund is to

21  create a permanent endowment for the provision of health care

22  and health insurance, health-related research and education,

23  child development, and other similar vital services, as

24  determined from year to year by the legislature.

25         (b)  No less than seventy percent of the net funds

26  received each year by the state from settlement of claims

27  related to the manufacture, sale, or distribution of tobacco

28  products shall be deposited into the Tobacco Settlement

29  Endowment Trust Fund.

30         (c)  Funds deposited into the Tobacco Settlement

31  Endowment Trust Fund shall be invested in accordance with

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






    Florida House of Representatives - 2000               HJR 2299

    238-307A-00






  1  general law, and the income derived therefrom shall be

  2  deposited no less than annually into the general revenue fund

  3  of the state. The corpus of the trust fund shall not be

  4  invaded, except as may be required by federal law.

  5         (d)  As used in this section, the term "net funds"

  6  shall not include any amounts paid prior to January 1, 2001,

  7  funds encumbered by the federal government, and funds paid for

  8  attorneys' fees and the costs of litigation.

  9         BE IT FURTHER RESOLVED that in accordance with the

10  requirements of section 101.161, Florida Statutes, the title

11  and substance of the amendment proposed herein shall appear on

12  the ballot as follows:

13             TOBACCO SETTLEMENT ENDOWMENT TRUST FUND

14         Proposes the establishment under the State Constitution

15  of the Tobacco Settlement Endowment Trust Fund. Requires 70

16  percent of the net funds recovered from tobacco manufacturers

17  by the state to be deposited in the fund. Prohibits

18  expenditure of the fund corpus, except as required by federal

19  law. Permits use of income from the fund for the provision of

20  health-related services, child development, and other similar

21  vital services, as determined by the Legislature.

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