Senate Bill sb1712

    Florida Senate - 2002                                  SB 1712

    By Senator Clary





    7-1742-02

  1                      A bill to be entitled

  2         An act relating to trust funds; amending s.

  3         288.095, F.S.; establishing the Rural Economic

  4         Development Account within the Economic

  5         Development Trust Fund for certain purposes;

  6         specifying nonreversion of moneys in the

  7         account; providing an effective date.

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

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11         Section 1.  Subsection (2) of section 288.095, Florida

12  Statutes, is amended to read:

13         288.095  Economic Development Trust Fund.--

14         (2)(a)  There is created, within the Economic

15  Development Trust Fund, the Economic Development Incentives

16  Account. The Economic Development Incentives Account consists

17  of moneys appropriated to the account for purposes of the tax

18  incentives programs authorized under ss. 288.1045 and 288.106,

19  and local financial support provided under ss. 288.1045 and

20  288.106. Moneys in the Economic Development Incentives Account

21  shall be subject to the provisions of s. 216.301(1)(a).

22         (b)  There is created, within the Economic Development

23  Trust Fund, the Rural Economic Development Account. The Rural

24  Economic Development Account consists of moneys appropriated

25  to the account for the purposes of ss. 288.018, 288.065, and

26  288.0655, all repayments provided for under ss. 288.018,

27  288.065, and 288.0655, and any income associated with the

28  account. Notwithstanding s. 216.301, funds in the Rural

29  Economic Development Account are not subject to reversion.

30         Section 2.  This act shall take effect upon becoming a

31  law, but it shall not take effect unless it is enacted by at

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






    Florida Senate - 2002                                  SB 1712
    7-1742-02




  1  least a three-fifths vote of the membership of each house of

  2  the Legislature.

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  5                          SENATE SUMMARY

  6    Establishes the Rural Economic Development Account within
      the Economic Development Trust Fund for purposes of the
  7    Regional Rural Development Grants Program, the Rural
      Community Development Revolving Loan Fund, and the Rural
  8    Infrastructure Fund. Specifies nonreversion of moneys in
      the account.
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CODING: Words stricken are deletions; words underlined are additions.