House Bill 2395

    Florida House of Representatives - 2000                HB 2395

        By the Committee on General Appropriations and
    Representative Pruitt





  1                      A bill to be entitled

  2         An act relating to trust funds; creating s.

  3         121.465, F.S.; creating the Public Employee

  4         Optional Retirement Program Trust Fund, to be

  5         administered by the State Board of

  6         Administration; providing for sources of moneys

  7         and purposes; providing for exemption from the

  8         general revenue service charges; providing for

  9         annual carryforward of funds; providing for

10         future review and termination or re-creation of

11         the trust fund; providing a contingent

12         effective date.

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

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16         Section 1.  Section 121.465, Florida Statutes, is

17  created to read:

18         121.465  Public Employee Optional Retirement Program

19  Trust Fund.--

20         (1)  The Public Employee Optional Retirement Program

21  Trust Fund is created and shall be administered by the State

22  Board of Administration. Funds shall be credited to the trust

23  fund as provided in this part, to be used for the purposes of

24  this part. The trust fund is exempt from the service charges

25  imposed by s. 215.20.

26         (2)  Notwithstanding the provisions of s. 216.301 and

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

28  end of any fiscal year shall remain in the trust fund at the

29  end of the year and shall be available for carrying out the

30  purposes of the trust fund.

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






    Florida House of Representatives - 2000                HB 2395

    187-876-00






  1         (3)  Pursuant to the provisions of s. 19(f)(2), Art.

  2  III of the State Constitution, the trust fund shall, unless

  3  terminated sooner, be terminated on July 1, 2004. Prior to its

  4  scheduled termination, the trust fund shall be reviewed as

  5  provided in s. 215.3206(1) and (2).

  6         Section 2.  This act shall take effect July 1, 2000, if

  7  House Bill .... or similar legislation is adopted in the same

  8  legislative session or an extension thereof and becomes law.

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11                          HOUSE SUMMARY

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      Creates the Public Employee Optional Retirement Program
13    Trust Fund, to be administered by the State Board of
      Administration. Provides for sources of moneys and
14    purposes. Provides for exemption from the general revenue
      service charges. Provides for annual carryforward of
15    funds. Provides for future review and termination or
      re-creation of the trust fund.
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