Senate Bill sb1580c1

    Florida Senate - 2001                           CS for SB 1580

    By the Committee on Finance and Taxation; and Senator Burt





    314-1903-01

  1                      A bill to be entitled

  2         An act relating to proceeds from the tobacco

  3         settlement; amending s. 569.21, F.S.; requiring

  4         that the Comptroller receive representations

  5         from the tobacco industry which are used to

  6         calculate the annual payments; requiring the

  7         Comptroller to verify such representations;

  8         requiring that the Auditor General review the

  9         verification of representations from the

10         tobacco industry; redesignating the Comptroller

11         as the Chief Financial Officer to conform to a

12         revision of the State Constitution; providing

13         effective dates.

14

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

16

17         Section 1.  Present subsections (2) through (12) of

18  section 569.21, Florida Statutes, are redesignated as

19  subsections (3) through (13), respectively, and a new

20  subsection (2) is added to that section, to read:

21         569.21  Expenditure of tobacco settlement

22  proceeds.--The following guidelines shall be applied to the

23  expenditure of all funds paid to the State of Florida as a

24  result of litigation entitled The State of Florida et al. v.

25  American Tobacco Company et al., Case #95-1466AH, in the

26  Circuit Court of the Fifteenth Judicial Circuit, in and for

27  Palm Beach County:

28         (2)  The Comptroller shall receive representations from

29  the tobacco industry with respect to calculating the annual

30  tobacco-settlement payments. The Comptroller, in consultation

31  with the Governor's Office of Planning and Budgeting, shall

                                  1

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






    Florida Senate - 2001                           CS for SB 1580
    314-1903-01




  1  verify the representations from the tobacco industry and

  2  appropriately resolve inconsistencies. The Comptroller may

  3  obtain contractual services, funded by the Tobacco Settlement

  4  Trust Fund, necessary to verify the representations from the

  5  tobacco industry. The Auditor General shall annually review

  6  the Comptroller's verification of the representations from the

  7  tobacco industry.

  8         Section 2.  Effective January 7, 2003, subsection (2)

  9  of section 569.21, Florida Statutes, as amended by this act,

10  is amended to read:

11         569.21  Expenditure of tobacco settlement

12  proceeds.--The following guidelines shall be applied to the

13  expenditure of all funds paid to the State of Florida as a

14  result of litigation entitled The State of Florida et al. v.

15  American Tobacco Company et al., Case #95-1466AH, in the

16  Circuit Court of the Fifteenth Judicial Circuit, in and for

17  Palm Beach County:

18         (2)  The Chief Financial Officer Comptroller shall

19  receive representations from the tobacco industry with respect

20  to calculating the annual tobacco-settlement payments. The

21  Chief Financial Officer Comptroller, in consultation with the

22  Governor's Office of Planning and Budgeting, shall verify the

23  representations from the tobacco industry and appropriately

24  resolve inconsistencies. The Chief Financial Officer

25  Comptroller may obtain contractual services, funded by the

26  Tobacco Settlement Trust Fund, necessary to verify the

27  representations from the tobacco industry. The Auditor General

28  shall annually review the Chief Financial Officer's

29  Comptroller's verification of the representations from the

30  tobacco industry.

31

                                  2

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






    Florida Senate - 2001                           CS for SB 1580
    314-1903-01




  1         Section 3.  Except as otherwise expressly provided in

  2  this act, this act shall take effect upon becoming a law.

  3

  4          STATEMENT OF SUBSTANTIAL CHANGES CONTAINED IN
                       COMMITTEE SUBSTITUTE FOR
  5                             SB 1580

  6

  7  Removes the requirement that the Comptroller consult with the
    Attorney General to verify "representations" submitted by the
  8  tobacco industry.

  9  Authorizes the Comptroller to obtain contractual services,
    funded by the Tobacco Settlement Trust Fund, necessary to
10  verify the representations from the tobacco industry.

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

26

27

28

29

30

31

                                  3

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