HOUSE AMENDMENT

                                               Bill No. CS/HB 1937

    Amendment No. ___ (for drafter's use only)

                            CHAMBER ACTION
              Senate                               House
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  5                                           ORIGINAL STAMP BELOW

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10  ______________________________________________________________

11  Representative(s) Lynn offered the following:

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13         Amendment (with title amendment) 

14         On page 8, line 17

15

16  insert:

17         Section 2.  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 Board of Regents. All funds appropriated for the challenge

30  grants, new donors, major gifts, sales tax exemption matching

31  funds pursuant to s.212.05(5)(j),  or eminent scholars program

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    File original & 9 copies    03/13/02
    hap0001                     09:15 am         01937-0027-952959




                                                   HOUSE AMENDMENT

                                               Bill No. CS/HB 1937

    Amendment No. ___ (for drafter's use only)





  1  must be deposited into the trust fund and invested pursuant to

  2  s. 18.125 until the Board of Regents allocates the funds to

  3  universities to match private donations. Notwithstanding s.

  4  216.301 and pursuant to s. 216.351, any undisbursed balance

  5  remaining in the trust fund and interest income accruing to

  6  the portion of the trust fund which is not matched and

  7  distributed to universities must remain in the trust fund and

  8  be used to increase the total funds available for challenge

  9  grants.  Funds deposited to the trust fund for the sales tax

10  exemption matching program authorized in s.212.08(5)(j), and

11  interest earnings thereon, shall be maintained in a separate

12  account within the Trust Fund for Major Gifts, and may only be

13  used to match qualified sales tax exemptions which are pledged

14  by certified businesses to support eligible programs at state

15  universities. The Board of Regents may authorize any

16  university to encumber the state matching portion of a

17  challenge grant from funds available under s. 240.272.

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20  ================ T I T L E   A M E N D M E N T ===============

21  And the title is amended as follows:

22         On page 1, line 26, after the semicolon

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24  insert:

25         amending s. 240.2605, F.S.; creating an account

26         within the Trust Fund for Major Gifts for the

27         deposit of funds appropriated as state match

28         for qualified sales tax exemptions which are

29         pledged by certified business to support

30         eligible programs in the state universities

31         pursuant to s. 212.08(5)(j), F.S.;

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    File original & 9 copies    03/13/02
    hap0001                     09:15 am         01937-0027-952959