Senate Bill 0662c1
CODING: Words stricken are deletions; words underlined are additions.
Florida Senate - 2000 CS for SB 662
By the Committee on Fiscal Policy and Senator Casas
309-689-00
1 A bill to be entitled
2 An act relating to trust funds; exempting from
3 termination or modifying specified trust funds
4 administered by state general-government
5 agencies; providing an effective date.
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7 Be It Enacted by the Legislature of the State of Florida:
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9 Section 1. The Legislature finds that the following
10 trust funds administered by the State Board of Administration
11 are exempt from termination pursuant to Section 19(f), Article
12 III of the State Constitution:
13 (1) The Florida Retirement Systems Trust Fund.
14 (2) The Local Government Surplus Funds Trust Fund.
15 (3) The Florida Hurricane Catastrophe Trust Fund.
16 (4) The Institute of Food and Agricultural Sciences
17 Supplemental Trust Fund.
18 (5) The Retiree Health Insurance Subsidy Trust Fund.
19 (6) The Bond Proceeds Trust Fund.
20 (7) The Florida Prepaid Postsecondary Education
21 Expense Trust Fund.
22 (8) The Department of the Lottery Fund pursuant to
23 section 24.120, Florida Statutes.
24 (9) The Debt Service Trust Fund.
25 (10) The Gas Tax Fund.
26 (11) The Police and Firefighters' Premium Tax Trust
27 Fund.
28 (12) The Lawton Chiles Endowment Fund.
29 (13) Funds of the Inland Protection Financing
30 Corporation created under section 376.3075, Florida Statutes.
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CODING: Words stricken are deletions; words underlined are additions.
Florida Senate - 2000 CS for SB 662
309-689-00
1 (14) Funds of the Investment Fraud Restoration
2 Financing Corporation created under section 517.1204, Florida
3 Statutes.
4 Section 2. Paragraph (c) of subsection (4) of section
5 413.615, Florida Statutes, is amended to read:
6 413.615 Florida Endowment for Vocational
7 Rehabilitation.--
8 (4) REVENUE FOR THE ENDOWMENT FUND.--
9 (c) The State Board of Administration shall invest and
10 reinvest moneys of the endowment fund in accordance with the
11 provisions of ss. 215.44-215.53. Moneys in the endowment fund
12 in excess of the endowment fund principal, or such lesser
13 amount as may be requested in writing by the foundation, shall
14 be annually transmitted to the foundation, based upon a fiscal
15 year which shall run from July 1 through June 30, and shall be
16 deposited in the foundation's operating account, for
17 distribution as provided in subsection (10). The endowment
18 fund principal shall be $5 million for the 1995-1996 fiscal
19 year and shall be increased by 5 percent in each subsequent
20 fiscal year. The endowment fund principal shall be $1 million
21 for the 2000-2001 fiscal year, and it shall be increased by 5
22 percent each year thereafter.
23 Section 3. Paragraph (v) is added to subsection (1) of
24 section 215.22, Florida Statutes, to read:
25 215.22 Certain income and certain trust funds
26 exempt.--
27 (1) The following income of a revenue nature or the
28 following trust funds shall be exempt from the deduction
29 required by s. 215.20(1):
30 (v) The Department of Banking and Finance Tobacco
31 Settlement Clearing Trust Fund.
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CODING: Words stricken are deletions; words underlined are additions.
Florida Senate - 2000 CS for SB 662
309-689-00
1 Section 4. This act shall take effect July 1, 2000.
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3 STATEMENT OF SUBSTANTIAL CHANGES CONTAINED IN
COMMITTEE SUBSTITUTE FOR
4 Senate Bill 662
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6 The committee substitute removes the Student Loan Escrow Fund
from the bill having previously been transferred to and under
7 the jurisdiction of the Department of Education.
8 The committee substitute also properly characterizes and
renames the Trust Fund for United States Zero Coupon Treasury
9 Bonds to the Department of Lottery Fund.
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