House Bill hb1159

    Florida House of Representatives - 2002                HB 1159

        By Representative Fiorentino






  1                      A bill to be entitled

  2         An act relating to trust funds; creating s.

  3         236.12265, F.S.; creating the Florida Academic

  4         Improvement Trust Fund within the Department of

  5         Education; providing sources of funds;

  6         specifying uses of funds; providing for annual

  7         carryforward of funds; providing for future

  8         review and termination or re-creation of the

  9         trust fund; providing a contingent effective

10         date.

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

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14         Section 1.  Section 236.12265, Florida Statutes, is

15  created to read:

16         236.12265  Florida Academic Improvement Trust Fund.--

17         (1)  The Florida Academic Improvement Trust Fund is

18  hereby created, to be administered by the Department of

19  Education.

20         (2)  Funds to be credited to the trust fund shall

21  consist of funds appropriated annually by the Legislature and

22  interest earnings. Such funds shall be used solely for the

23  purposes set forth in s. 236.1226.

24         (3)  Notwithstanding the provisions of s. 216.301, and

25  pursuant to s. 216.351, any balance in the trust fund at the

26  end of the fiscal year shall remain in the trust fund and

27  shall be available for carrying out the purposes of the trust

28  fund.

29         (4)  In accordance with s. 19(f)(2), Art. III of the

30  State Constitution, the Florida Academic Improvement Trust

31  Fund shall, unless terminated sooner, be terminated on July 1,

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






    Florida House of Representatives - 2002                HB 1159

    730-121A-02






  1  2006. Before its scheduled termination, the trust fund shall

  2  be reviewed as provided in s. 215.3206(1) and (2).

  3         Section 2.  This act shall take effect July 1, 2002, if

  4  HB     or similar legislation is adopted in the same

  5  legislative session, or an extension thereof, and becomes law.

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  8                          HOUSE SUMMARY

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      Creates the Florida Academic Improvement Trust Fund
10    within the Department of Education. Provides sources of
      funds. Specifies uses of funds. Provides for the annual
11    carryforward of funds. Provides for future review and
      termination or re-creation of the trust fund.
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CODING: Words stricken are deletions; words underlined are additions.