House Bill hb0583

    Florida House of Representatives - 2001                 HB 583

        By Representative Brutus






  1                      A bill to be entitled

  2         An act relating to trust funds; creating the

  3         Heir Finder Recovery Fund within the Department

  4         of Business and Professional Regulation;

  5         providing for sources of moneys and purposes;

  6         providing for future review and termination or

  7         re-creation of the fund; providing a contingent

  8         effective date.

  9

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

11

12         Section 1.  The Heir Finder Recovery Fund is hereby

13  created, to be administered by the Department of Business and

14  Professional Regulation.  Funds shall be credited to the fund

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

16  the 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 Heir Finder

19  Recovery Fund shall, unless terminated sooner, be terminated

20  on the same day in the year 2006 as the day of the effective

21  date of this act.

22         (2)  Prior to the regular legislative session

23  immediately preceding the date on which the fund is scheduled

24  to be terminated, the Department of Business and Professional

25  Regulation and the Governor shall recommend to the President

26  of the Senate and the Speaker of the House of Representatives

27  whether the fund should be allowed to terminate or should be

28  re-created.  These recommendations shall be based on a review

29  of the purpose and use of the fund and a determination of

30  whether the fund will continue to be necessary.  A

31  recommendation to re-create the fund may include suggested

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






    Florida House of Representatives - 2001                 HB 583

    755-108-01






  1  modifications to the purposes, sources of receipts, and

  2  allowable expenditures for the fund.  The department's

  3  recommendation shall be made as a part of its legislative

  4  budget request to the Legislature pursuant to s. 216.023,

  5  Florida Statutes.  The Governor's recommendation shall be made

  6  as a part of the recommended budget presented to the

  7  Legislature pursuant to s. 216.162, Florida Statutes.

  8         (3)  If the fund is terminated, the Department of

  9  Business and Professional Regulation shall pay any outstanding

10  debts or obligations of the fund as soon as practicable and

11  the Comptroller shall close out and remove the fund from the

12  various state accounting systems, using generally accepted

13  accounting practices concerning warrants outstanding, assets,

14  and liabilities.

15         Section 3.  This act shall take effect upon becoming a

16  law, if HB .... or similar legislation is adopted in the same

17  legislative session or an extension thereof.

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19            *****************************************

20                          HOUSE SUMMARY

21
      Creates the Heir Finder Recovery Fund within the
22    Department of Business and Professional Regulation, and
      provides for its sources of moneys and purposes.
23    Provides for future review and termination or re-creation
      of the fund.
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CODING: Words stricken are deletions; words underlined are additions.