House Bill 0651

    Florida House of Representatives - 2000                 HB 651

        By Representative Gay






  1                      A bill to be entitled

  2         An act relating to trust funds; creating the

  3         Florida's Future Trust Fund, to be administered

  4         by the Department of Management Services;

  5         providing for sources of moneys and purposes;

  6         providing for future review and termination or

  7         re-creation of the trust fund; providing a

  8         contingent effective date.

  9

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

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12         Section 1.  The Florida's Future Trust Fund is hereby

13  created, to be administered by the Department of Management

14  Services. Funds shall be credited to the trust fund as

15  provided in HB .... or similar legislation, to be used for the

16  purposes set forth therein.

17         Section 2.  (1)  Pursuant to the provisions of s.

18  19(f)(2), Art. III of the State Constitution, the Florida's

19  Future Trust Fund shall, unless terminated sooner, be

20  terminated on July 1, 2004.

21         (2)  Prior to the regular legislative session

22  immediately preceding the date on which the trust fund is

23  scheduled to be terminated, the Department of Management

24  Services and the Governor shall recommend to the President of

25  the Senate and the Speaker of the House of Representatives

26  whether the trust fund should be allowed to terminate or

27  should be re-created. These recommendations shall be based on

28  a review of the purpose and use of the trust fund and a

29  determination of whether the trust fund will continue to be

30  necessary. A recommendation to re-create the trust fund may

31  include suggested modifications to the purpose, sources of

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






    Florida House of Representatives - 2000                 HB 651

    540-203-00






  1  receipts, and allowable expenditures for the trust fund. The

  2  department's recommendation shall be made as a part of its

  3  legislative budget request to the Legislature pursuant to s.

  4  216.023, Florida Statutes. The Governor's recommendation shall

  5  be made as a part of the recommended budget presented to the

  6  Legislature pursuant to s. 216.162, Florida Statutes.

  7         (3)  If the trust fund is terminated, the Department of

  8  Management Services shall pay any outstanding debts or

  9  obligations of the trust fund as soon as practicable and the

10  Comptroller shall close out and remove the trust fund from the

11  various state accounting systems, using generally accepted

12  accounting practices concerning warrants outstanding, assets,

13  and liabilities.

14         Section 3.  This act shall take effect July 1, 2000, if

15  HB .... or similar legislation is adopted in the same

16  legislative session or an extension thereof.

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18            *****************************************

19                          HOUSE SUMMARY

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      Creates the Florida's Future Trust Fund, to be
21    administered by the Department of Management Services,
      and provides for its sources of moneys and purposes.
22    Provides for future review and termination or re-creation
      of the trust fund.
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