Senate Bill sb0968

    Florida Senate - 2002                                   SB 968

    By Senator Silver





    38-604-02

  1                      A bill to be entitled

  2         An act relating to the Florida Healthy Kids

  3         Corporation; allowing the corporation to

  4         establish and manage an operating fund;

  5         providing purposes of the fund; providing

  6         limitations on the cash balance; providing for

  7         reversion of moneys to the state upon the

  8         dissolution of the corporation; providing an

  9         effective date.

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

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13         Section 1.  The Florida Healthy Kids Corporation may

14  establish and manage an operating fund for the purposes of

15  addressing the corporation's unique cash-flow needs and

16  facilitating the fiscal management of the corporation. The

17  corporation may accumulate and maintain in the operating fund

18  at any given time a cash balance equal to no more than 25

19  percent of annualized operating expenses. Upon the dissolution

20  of the corporation, any remaining cash balances of state funds

21  shall revert to the state General Revenue Fund.

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

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25                          SENATE SUMMARY

26     Allows the Florida Healthy Kids Corporation to establish
      and manage an operating fund in the amount of 25 percent
27    or less of annualized operating expenses. Provides that,
      upon dissolution of the corporation, any remaining cash
28    balances will revert to the state.

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