CODING: Words stricken are deletions; words underlined are additions.
SENATE AMENDMENT
Bill No. CS for SB 1844
Amendment No. ___ Barcode 952350
CHAMBER ACTION
Senate House
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11 Senator Lee moved the following amendment:
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13 Senate Amendment (with title amendment)
14 On page 8, between lines 16 and 17,
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17 Section 3. Subsection (1) of section 240.2605, Florida
18 Statutes, is amended to read:
19 240.2605 Trust Fund for Major Gifts.--
20 (1) There is established a Trust Fund for Major Gifts.
21 The purpose of the trust fund is to enable the Board of
22 Regents Foundation, each university, and New College to
23 provide donors with an incentive in the form of matching
24 grants for donations for the establishment of permanent
25 endowments and sales tax exemption matching funds received
26 pursuant to s. 212.08(5)(j), which must be invested, with the
27 proceeds of the investment used to support libraries and
28 instruction and research programs, as defined by procedure of
29 the State Board of Education Regents. All funds appropriated
30 for the challenge grants, new donors, major gifts, sales tax
31 exemption matching funds pursuant to s. 212.08(5)(j), or
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SENATE AMENDMENT
Bill No. CS for SB 1844
Amendment No. ___ Barcode 952350
1 eminent scholars program must be deposited into the trust fund
2 and invested pursuant to s. 18.125 until the State Board of
3 Education Regents allocates the funds to universities to match
4 private donations. Notwithstanding s. 216.301 and pursuant to
5 s. 216.351, any undisbursed balance remaining in the trust
6 fund and interest income accruing to the portion of the trust
7 fund which is not matched and distributed to universities must
8 remain in the trust fund and be used to increase the total
9 funds available for challenge grants. Funds deposited in the
10 trust fund for the sales tax exemption matching program
11 authorized in s. 212.08(5)(j), and interest earnings thereon,
12 shall be maintained in a separate account within the Trust
13 Fund for Major Gifts, and may be used only to match qualified
14 sales tax exemptions that a certified business designates for
15 use by state universities and community colleges to support
16 research and development projects requested by the certified
17 business. The State Board of Education Regents may authorize
18 any university to encumber the state matching portion of a
19 challenge grant from funds available under s. 240.272.
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21 (Redesignate subsequent sections.)
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25 And the title is amended as follows:
26 On page 1, line 26, after the semicolon
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29 amending s. 240.2605, F.S.; creating an account
30 within the Trust Fund for Major Gifts for the
31 deposit of funds appropriated as state match
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SENATE AMENDMENT
Bill No. CS for SB 1844
Amendment No. ___ Barcode 952350
1 for qualified sales tax exemptions that a
2 certified business designates for use by state
3 universities and community colleges to support
4 research and development projects requested by
5 the certified business pursuant to s.
6 212.08(5)(j), F.S.;
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