Senate Bill 2466

    Florida Senate - 2000        (NP)                      SB 2466

    By Senator Mitchell





    4-1738-00                                           See HB 421

  1                      A bill to be entitled

  2         An act relating to trust funds; creating the

  3         Florida Indemnification and Community

  4         Revitalization Trust Fund; providing for

  5         sources of funds and purposes; providing for

  6         annual carryforward of funds until final

  7         authorized annual distribution and then for

  8         reversion of any unencumbered balance to the

  9         Department of Banking and Finance Tobacco

10         Settlement Clearing Trust Fund; providing for

11         future review and termination or re-creation of

12         the trust fund; providing a contingent

13         effective date.

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

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17         Section 1.  (1)  The Florida Indemnification and

18  Community Revitalization Trust Fund is created. Funds shall be

19  credited to the trust fund as provided in SB .... or similar

20  legislation, to be used for the purposes set forth therein.

21         (2)  Notwithstanding the provisions of section 216.301,

22  Florida Statutes, and pursuant to section 216.351, Florida

23  Statutes, any balance in the trust fund at the end of any

24  fiscal year shall remain in the trust fund at the end of the

25  year and shall be available for carrying out the purposes of

26  the trust fund; however, any unencumbered balance in the trust

27  fund after the last authorized annual distribution has been

28  made shall revert to the Department of Banking and Finance

29  Tobacco Settlement Clearing Trust Fund.

30         (3)  In accordance with Section 19(f)(2), Article III

31  of the State Constitution, the Florida Indemnification and

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






    Florida Senate - 2000        (NP)                      SB 2466
    4-1738-00                                           See HB 421




  1  Community Revitalization Trust Fund shall be terminated on

  2  July 1, 2004, unless terminated sooner. Before its scheduled

  3  termination, the trust fund shall be reviewed as provided in

  4  section 215.3206(1) and (2), Florida Statutes.

  5         Section 2.  This act shall take effect on the effective

  6  date of Senate Bill     , but it shall not take effect unless

  7  it is enacted by a three-fifths vote of the membership of each

  8  house of the Legislature and unless SB     , 2000 Regular

  9  Session, becomes a law.

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12                       LEGISLATIVE SUMMARY

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      Creates the Florida Indemnification and Community
14    Revitalization Trust Fund, and provides for its sources
      of funds and purposes. Provides for annual carryforward
15    of funds until final authorized distribution and then for
      reversion of any unencumbered balance to the Department
16    of Banking and Finance Tobacco Settlement Clearing Trust
      Fund. Provides for future review and termination or
17    re-creation of the trust fund.

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