House Bill 0421

    Florida House of Representatives - 2000                 HB 421

        By Representatives Stansel, Casey and Harrington






  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 HB .... or similar

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

21         (2)  Notwithstanding the provisions of s. 216.301,

22  Florida Statutes, and pursuant to s. 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)  Pursuant to the provisions of s. 19(f)(2), Art.

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

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






    Florida House of Representatives - 2000                 HB 421

    712-108-00






  1  terminated sooner, be terminated on November 4, 2004. Prior to

  2  its scheduled termination, the trust fund shall be reviewed as

  3  provided in s. 215.3206(1) and (2), Florida Statutes.

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

  5  2000, if HB .... or similar legislation is adopted in the same

  6  legislative session or an extension thereof.

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  9                          HOUSE SUMMARY

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

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