Senate Bill sb1720

    Florida Senate - 2001                                  SB 1720

    By Senator King





    8-1406A-01

  1                      A bill to be entitled

  2         An act relating to trust funds; creating an

  3         Administrative Trust Fund to be administered by

  4         the Agency for Workforce Innovation; providing

  5         for purposes of the trust fund; providing for

  6         the sources for and expenditure of funds from

  7         the trust fund; providing for the disposition

  8         of trust fund balances; providing for future

  9         review and termination or re-creation of the

10         trust fund; providing a contingent effective

11         date.

12

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

14

15         Section 1.  Administrative Trust Fund; Agency for

16  Workforce Innovation.--

17         (1)  There is created an Administrative Trust Fund to

18  be administered by the Agency for Workforce Innovation created

19  under section 20.50, Florida Statutes.

20         (2)  The purpose of the trust fund is to facilitate the

21  general administrative activities of the Agency for Workforce

22  Innovation.

23         (3)  Funds to be credited to the trust fund shall

24  consist of appropriations from the Legislature to the trust

25  fund, any indirect earnings from grants or similar sources,

26  indirect charges to units within the agency, any funds

27  transferred to the trust fund as a result of the termination

28  of another trust fund administered by the Agency for Workforce

29  Innovation, and funds from other sources that facilitate the

30  general administrative activities of the agency.

31

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






    Florida Senate - 2001                                  SB 1720
    8-1406A-01




  1         (4)  Funds credited to the trust fund shall be expended

  2  only pursuant to legislative appropriation or an approved

  3  amendment to the operating budget of the agency under the

  4  provisions of chapter 216, Florida Statutes.

  5         (5)  All funds transferred to and retained in the trust

  6  fund shall be invested pursuant to section 18.125, Florida

  7  Statutes. Any interest accruing to the trust fund shall be for

  8  the benefit of the general administrative activities of the

  9  agency. Notwithstanding section 216.301, Florida Statutes, and

10  pursuant to section 216.351, Florida Statutes, any undisbursed

11  balance remaining in the trust fund and interest accruing to

12  the trust fund not distributed at the end of the fiscal year

13  shall remain in the trust fund and shall increase the total

14  funds available to implement the general administrative

15  activities of the agency.

16         Section 2.  Under section 19(f)(2), Article III of the

17  State Constitution, the Administrative Trust Fund of the

18  Agency for Workforce Innovation shall, unless terminated

19  sooner, be terminated on July 1, 2005. Before its scheduled

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

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

22         Section 3.  This act shall take effect July 1, 2001,

23  but it shall take effect only if it is enacted by at least a

24  three-fifths vote of the membership of each house of the

25  Legislature.

26

27            *****************************************

28                          SENATE SUMMARY

29    Creates an Administrative Trust Fund to facilitate
      administrative activities of the Agency for Workforce
30    Innovation and provides sources of funding. Provides for
      carryover of unexpended moneys. Terminates the fund after
31    4 years.

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