House Bill hb1517e1

                                       CS/HB 1517, First Engrossed



  1                      A bill to be entitled

  2         An act relating to the Water Management Lands

  3         Trust Fund; amending s. 373.59, F.S.; providing

  4         for the interest received from investments of

  5         the Water Management Lands Trust Fund to be

  6         credited to the Florida Keys and Key West Areas

  7         of Critical State Concern Wastewater and

  8         Stormwater Trust Fund for a specified number of

  9         years; providing for contingent effect;

10         providing an effective date.

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

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14         Section 1.  Subsection (9) of section 373.59, Florida

15  Statutes, is amended to read:

16         373.59  Water Management Lands Trust Fund.--

17         (9)  Moneys in the Water Management Lands Trust Fund

18  not needed to meet current obligations incurred under this

19  section shall be transferred to the State Board of

20  Administration, to the credit of the fund, to be invested in

21  the manner provided by law.  For fiscal years 2003-2004

22  through 2011-2012, interest received on such investments shall

23  be credited to the Florida Keys and Key West Areas of Critical

24  State Concern Wastewater and Stormwater Trust Fund within the

25  Department of Community Affairs.  Beginning with fiscal year

26  2012-2013, interest received on such investments shall be

27  credited to the Water Management Lands Trust Fund.

28         Section 2.  The amendment of s. 373.59(9), Florida

29  Statutes, by this act is contingent on House Bill 1653 or

30  similar legislation being adopted during the 2002 Regular

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                                       CS/HB 1517, First Engrossed



  1  Session of the Legislature or any extension thereof and

  2  becoming law.

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

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