Senate Bill sb0502

    Florida Senate - 2001                                   SB 502

    By Senator Wasserman Schultz





    32-327-01

  1                      A bill to be entitled

  2         An act relating to the School District Capital

  3         Outlay Trust Fund; amending s. 235.014, F.S.;

  4         providing for administration of the trust fund

  5         by the Department of Education; creating s.

  6         235.45, F.S.; creating the trust fund within

  7         the department and specifying the moneys that

  8         comprise the fund; exempting the trust fund

  9         from service charges imposed by s. 215.20,

10         F.S.; providing that balances remaining at the

11         end of a fiscal year shall remain in the trust

12         fund; providing for future review and

13         termination or re-creation of the trust fund;

14         providing a contingent effective date.

15

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

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18         Section 1.  Subsection (5) of section 235.014, Florida

19  Statutes, is amended to read:

20         235.014  Functions of the department.--The functions of

21  the department shall include, but not be limited to, the

22  following; it shall:

23         (5)  Administer, under the supervision of the

24  commissioner, the Public Education Capital Outlay and Debt

25  Service Trust Fund, and the School District and Community

26  College District Capital Outlay and Debt Service Trust Fund,

27  and the School District Capital Outlay Trust Fund.

28         Section 2.  Section 235.45, Florida Statutes, is

29  created to read:

30         235.45  School District Capital Outlay Trust Fund.--

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






    Florida Senate - 2001                                   SB 502
    32-327-01




  1         (1)  The School District Capital Outlay Trust Fund is

  2  created within the Department of Education. The trust fund

  3  shall be comprised of moneys deposited pursuant to s.

  4  199.292(2) and otherwise appropriated by the Legislature for

  5  school district capital outlay purposes, including school

  6  construction, renovation, and repair and other uses set out in

  7  s. 236.25(2) and (5). The trust fund is exempt from the

  8  service charges imposed by s. 215.20.

  9         (2)  Notwithstanding the provisions of s. 216.301 and

10  pursuant to the provisions of s. 216.351, any balance in the

11  trust fund at the end of any fiscal year shall remain in the

12  trust fund at the end of that year and shall be available for

13  carrying out the purposes of the trust fund.

14         (3)  Pursuant to the provisions of s. 19(f)(2), Art.

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

16  terminated sooner, be terminated on July 1, 2005. Prior to its

17  scheduled termination, the trust fund shall be reviewed as

18  provided in s. 215.3206(1) and (2).

19         Section 3.  This act shall take effect on the same date

20  as Senate Bill     or similar legislation amending section

21  199.292, Florida Statutes, to provide for deposit of funds in

22  the School District Capital Outlay Trust Fund, takes effect if

23  such legislation is adopted in the same legislative session or

24  an extension thereof and becomes law.

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26            *****************************************

27                          SENATE SUMMARY

28    Creates the School District Capital Outlay Trust Fund
      within the Department of Education.
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30

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