Senate Bill sb0026E
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Florida Senate - 2002 SB 26-E
By Senator Geller
29-2387-02
1 A bill to be entitled
2 An act relating to governmental reorganization;
3 creating the Department of Banking and
4 Insurance; repealing ss. 20.12, 20.13, F.S.;
5 abolishing the Department of Banking and
6 Finance and the Department of Insurance;
7 amending ss. 17.011, 17.02, 17.03, 17.031,
8 17.04, 17.0401, 17.041, 17.0415, 17.05, 17.06,
9 17.075, 17.076, 17.08, 17.09, 17.10, 17.11,
10 17.12, 17.13, 17.14, 17.16, 17.17, 17.20,
11 17.21, 17.22, 17.25, 17.26, 17.27, 17.28,
12 17.29, 17.30, 17.32, 17.325, 17.41, 17.43,
13 F.S.; conforming provisions; transferring,
14 renumbering, and amending ss. 18.01, 18.02,
15 18.021, 18.06, 18.07, 18.091, 18.10, 18.101,
16 18.103, 18.104, 18.125, 18.15, 18.17, 18.20,
17 18.23, 18.24, F.S.; conforming provisions;
18 repealing s. 18.03, F.S., relating to residence
19 and office of the Treasurer; repealing s.
20 18.05, F.S., relating to annual report to
21 Governor; repealing s. 18.08, F.S., relating to
22 warrants turned over to the Comptroller;
23 repealing s. 18.09, F.S., relating to annual
24 report to the Legislature; repealing s. 18.22,
25 F.S., relating to rulemaking authority of the
26 Department of Banking and Finance; providing
27 for the construction of the act in pari materia
28 with Laws enacted at the 2002 Regular Session;
29 providing an effective date.
30
31 Be It Enacted by the Legislature of the State of Florida:
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1 Section 1. Department of Banking and Insurance.--There
2 is created a Department of Banking and Insurance.
3 (1) The head of the Department of Banking and
4 Insurance is the Chief Financial Officer.
5 (2) The following divisions of the Department of
6 Banking and Insurance are established:
7 (a) Division of Insurer Services.
8 (b) Division of Insurance Consumer Services.
9 (c) Division of Agents and Agencies Services.
10 (d) Division of Rehabilitation and Liquidation.
11 (e) Division of Risk Management.
12 (f) Division of Financial Investigation.
13 (g) Division of Insurance Fraud.
14 (h) Division of Administration.
15 (i) Division of Treasury.
16 (j) Division of Legal Services.
17 (3)(a) The department shall have an assistant chief
18 financial officer.
19 (b) The Division of Insurer Services shall have at
20 least two deputy directors. All other divisions shall have a
21 director and may have an assistant director. The department
22 may change the name of any division, by rule, if the name
23 indicates the responsibilities of the division.
24 (4) The Division of Insurance Fraud shall enforce the
25 provisions of section 626.989, Florida Statutes. The division
26 shall establish a Bureau of Workers' Compensation Insurance
27 Fraud for the sole purpose of enforcing those provisions of
28 chapter 440, Florida Statutes, which, if violated, would
29 result in the commission of fraudulent insurance acts.
30 (5) A Bureau of Financial and Support Services is
31 created within the Division of Administration.
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1 (6)(a) The Division of Treasury, in addition to other
2 matters that may be assigned to or located within the
3 division, shall administer the Government Employees Deferred
4 Compensation Plan established under section 112.215, Florida
5 Statutes, for state employees.
6 (b) To carry out the purposes of paragraph (a), a
7 Section of Government Employee Deferred Compensation is
8 created within the Division of Treasury.
9 (7) There is created as a subunit within the
10 department the Office of Financial Investigation. The office
11 shall:
12 (a) Function as a criminal justice agency within the
13 meaning of section 943.045(10)(d), Florida Statutes; and
14 (b) Have a separate budget.
15 Section 2. Section 17.011, Florida Statutes, is
16 amended to read:
17 17.011 Chief Financial Officer Assistant
18 comptroller.--The Chief Financial Officer Comptroller of the
19 state may appoint an assistant Chief Financial Officer
20 comptroller to hold office at during the pleasure of the Chief
21 Financial Officer Comptroller.
22 Section 3. Section 17.02, Florida Statutes, is amended
23 to read:
24 17.02 Place of residence and office.--The Chief
25 Financial Officer Comptroller shall reside at the seat of
26 government of this state, and shall hold office in a room in
27 the Capitol.
28 Section 4. Section 17.03, Florida Statutes, is amended
29 to read:
30 17.03 Duty to audit claims against the state.--
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1 (1) The Chief Financial Officer Comptroller of this
2 state, using generally accepted auditing procedures for
3 testing or sampling, shall examine, audit, and settle all
4 accounts, claims, and demands, whatsoever, against the state,
5 arising under any law or resolution of the Legislature, and
6 shall issue a warrant to the Treasurer directing the Treasurer
7 to pay out of the State Treasury such amount as is shall be
8 allowed by law the Comptroller thereon.
9 (2) The Chief Financial Officer Comptroller may
10 establish dollar thresholds applicable to each invoice amount
11 and other criteria for testing or sampling invoices on a
12 preaudit and postaudit basis. The Chief Financial Officer
13 Comptroller may revise such thresholds and other criteria for
14 an agency or the unit of any agency as he or she deems
15 appropriate.
16 (3) The Chief Financial Officer Comptroller may adopt
17 and disseminate to the agencies procedural and documentation
18 standards for payment requests and may provide training and
19 technical assistance to the agencies for these standards.
20 (4) The Chief Financial Officer Comptroller shall have
21 the legal duty of delivering all state warrants and shall be
22 charged with the official responsibility of the protection and
23 security of the state warrants while in his or her custody.
24 The Chief Financial Officer Comptroller may delegate this
25 authority to other state agencies or officers.
26 Section 5. Section 17.031, Florida Statutes, is
27 amended to read:
28 17.031 Security of Chief Financial Officer's
29 Comptroller's office.--The Chief Financial Officer Comptroller
30 is authorized to engage the full-time services of two law
31 enforcement officers, with power of arrest, to prevent all
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1 acts of a criminal nature directed at the property in the
2 custody or control of the Chief Financial Officer Comptroller.
3 While so assigned, these said officers shall be under the
4 direction and supervision of the Chief Financial Officer
5 Comptroller, and their salaries and expenses shall be paid
6 from the general fund of the office of Chief Financial Officer
7 Comptroller.
8 Section 6. Section 17.04, Florida Statutes, is amended
9 to read:
10 17.04 To audit and adjust accounts of officers and
11 those indebted to the state.--The Department of Banking and
12 Insurance Finance of this state, using generally accepted
13 auditing procedures for testing or sampling, shall examine,
14 audit, adjust, and settle the accounts of all the officers of
15 this state, and any other person in anywise entrusted with, or
16 who may have received any property, funds, or moneys of this
17 state, or who may be in anywise indebted or accountable to
18 this state for any property, funds, or moneys, and require
19 such officers officer or persons to render full accounts
20 thereof, and to yield up such property or funds according to
21 law, or pay such moneys into the treasury of this state, or to
22 such officer or agent of the state as is may be appointed to
23 receive the same, and on failure so to do, to cause to be
24 instituted and prosecuted proceedings, criminal or civil, at
25 law or in equity, against such persons, according to law. The
26 Division of Financial Investigations may conduct
27 investigations within or outside of this state as it deems
28 necessary to aid in the enforcement of this section. If
29 during an investigation the division has reason to believe
30 that any criminal statute of this state has or may have been
31 violated, the division shall refer any records tending to show
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1 such violation to state or federal law enforcement or
2 prosecutorial agencies and shall provide investigative
3 assistance to those agencies as required.
4 Section 7. Section 17.0401, Florida Statutes, is
5 amended to read:
6 17.0401 Confidentiality of information relating to
7 financial investigations.--Except as otherwise provided by
8 this section, information relative to an investigation
9 conducted by the Division of Financial Investigations pursuant
10 to s. 17.04, including any consumer complaint, is confidential
11 and exempt from the provisions of s. 119.07(1) and s. 24(a),
12 Art. I of the State Constitution until the investigation is
13 completed or ceases to be active. Any information relating to
14 an investigation conducted by the division pursuant to s.
15 17.04 shall remain confidential and exempt from the provisions
16 of s. 119.07(1) and s. 24(a), Art. I of the State Constitution
17 after the division's investigation is completed or ceases to
18 be active if the division submits the information to any law
19 enforcement or prosecutorial agency for further investigation.
20 Such information shall remain confidential and exempt from the
21 provisions of s. 119.07(1) and s. 24(a), Art. I of the State
22 Constitution until that agency's investigation is completed or
23 ceases to be active. For purposes of this section, an
24 investigation shall be considered "active" so long as the
25 division or any law enforcement or prosecutorial agency is
26 proceeding with reasonable dispatch and has a reasonable good
27 faith belief that the investigation may lead to the filing of
28 an administrative, civil, or criminal proceeding. This
29 section shall not be construed to prohibit disclosure of
30 information that which is required by law to be filed with the
31 Department of Banking and Insurance Finance and that which,
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1 but for the investigation, would otherwise be subject to
2 public disclosure. Nothing in this section shall be construed
3 to prohibit the division from providing information to any law
4 enforcement or prosecutorial agency. Any law enforcement or
5 prosecutorial agency receiving confidential information from
6 the division in connection with its official duties shall
7 maintain the confidentiality of the information as provided
8 for in this section.
9 Section 8. Section 17.041, Florida Statutes, is
10 amended to read:
11 17.041 County and district accounts and claims.--
12 (1) It shall be the duty of the Department of Banking
13 and Insurance Finance of this state to adjust and settle, or
14 cause to be adjusted and settled, all accounts and claims
15 heretofore or hereafter reported to it by the Auditor General,
16 the appropriate county or district official, or any person
17 against all county and district officers and employees, and
18 against all other persons entrusted with, or who may have
19 received, any property, funds, or moneys of a county or
20 district or who may be in anywise indebted to or accountable
21 to a county or district for any property, funds, moneys, or
22 other thing of value, and to require such officer, employee,
23 or person to render full accounts thereof and to yield up such
24 property, funds, moneys, or other thing of value according to
25 law to the officer or authority entitled by law to receive the
26 same.
27 (2) On the failure of such officer, employee, or
28 person to adjust and settle such account, or to yield up such
29 property, funds, moneys, or other thing of value, the
30 department shall direct the attorney for the board of county
31 commissioners, the district school board, or the district, as
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1 the case may be, entitled to such account, property, funds,
2 moneys, or other thing of value to represent such county or
3 district in enforcing settlement, payment, or delivery of such
4 account, property, funds, moneys, or other thing of value. The
5 department may enforce such settlement, payment, or delivery
6 pursuant to s. 17.20.
7 (3) If Should the attorney for the county or district
8 is aforesaid be disqualified or unable to act, and no other
9 attorney is be furnished by the county or district, or if
10 should the department otherwise considers deem it advisable,
11 such account or claim may be certified to the Department of
12 Legal Affairs by the department, to be prosecuted by the
13 Department of Legal Affairs at county or district expense, as
14 the case may be, including necessary per diem and travel
15 expense in accordance with s. 112.061, as now or hereafter
16 amended. Such expenses, when approved by the department,
17 shall be paid forthwith by such county or district.
18 (4) If Should it appears appear to the department that
19 any criminal statute of this state has been or may have been
20 violated by such defaulting officer, employee, or person, such
21 information, evidence, documents, and other things tending to
22 show such a violation, whether in the hands of the Chief
23 Financial Officer Comptroller, the Auditor General, the
24 county, or the district, shall be forthwith turned over to the
25 proper state attorney for inspection, study, and such action
26 as is may be deemed proper, or the same may be brought to the
27 attention of the proper grand jury.
28 (5) No such account or claim, after it has been
29 certified to the department, may be settled for less than the
30 amount due according to law without the written consent of the
31 department, and any attempt to make settlement in violation of
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1 this subsection is shall be deemed null and void. A county or
2 district board seeking desiring to make such a settlement
3 shall incorporate the proposed settlement into a resolution,
4 stating that the proposed settlement is contingent upon the
5 Chief Financial Officer's Comptroller's approval, and shall
6 submit two copies of the resolution to the department. The
7 department shall return one copy with the Chief Financial
8 Officer's Comptroller's action endorsed thereon.
9 (6) No settlement of account of any such officer,
10 employee, or person, with the county or district, or any of
11 their officers or agents, made in an amount or manner other
12 than as authorized by law or for other than a lawful county or
13 district purpose, is shall be binding upon such county or
14 district unless and until approved by the department, or
15 unless more than 4 years shall have elapsed from the date of
16 such settlement.
17 (7) Nothing in this section shall supersede the
18 continuing duty of the proper county and district officers to
19 require any officer, employee, or person to render full
20 accounts of and to yield up according to law to the officer or
21 authority entitled by law to receive the same, any property,
22 funds, moneys, or other thing of value as to which such
23 officer, employee, or person is in anywise indebted to or
24 accountable to such county or district. The provisions of
25 this section provide for collections and recoveries that which
26 the proper county or district officers have failed to make,
27 and for correction of settlements made in an amount or manner
28 other than as authorized by law.
29 Section 9. Section 17.0415, Florida Statutes, is
30 amended to read:
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1 17.0415 Transfer and assignment of claims.--In order
2 to facilitate their collection from third parties, the Chief
3 Financial Officer Comptroller may authorize the assignment of
4 claims among the state, its agencies, and its subdivisions,
5 whether arising from criminal, civil, or other judgments in
6 state or federal court. The state, its agencies, and its
7 subdivisions, may assign claims under such terms as are
8 mutually acceptable to the Chief Financial Officer Comptroller
9 and the assignee and assignor. The assigned claim may be
10 enforced as a setoff to any claim against the state, its
11 agencies, or its subdivisions, by garnishment or in the same
12 manner as a judgment in a civil action. Claims against the
13 state, its agencies, and its subdivisions resulting from the
14 condemnation of property protected by the provisions of s. 4,
15 Art. X of the State Constitution are not subject to setoff
16 pursuant to this section.
17 Section 10. Section 17.05, Florida Statutes, is
18 amended to read:
19 17.05 Subpoenas; sworn statements; enforcement
20 proceedings.--
21 (1) The Chief Financial Officer Comptroller may demand
22 and require full answers on oath from any and every person
23 that is, party or privy to any account, claim, or demand
24 against or by the state which, such as it is may be the Chief
25 Financial Officer's Comptroller's official duty to examine
26 into, and the Chief Financial Officer which answers the
27 Comptroller may require that these answers to be in writing
28 and to be sworn to before the Chief Financial Officer
29 Comptroller or the department or before any judicial officer
30 or clerk of any court of the state so as to enable the Chief
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1 Financial Officer Comptroller to determine the justice or
2 legality of such account, claim, or demand.
3 (2) In exercising authority under this chapter, the
4 Chief Financial Officer Comptroller or his or her designee
5 may:
6 (a) Issue subpoenas, administer oaths, and examine
7 witnesses.
8 (b) Require or permit a person to file a statement in
9 writing, under oath or otherwise as the Chief Financial
10 Officer Comptroller or his or her designee requires, as to all
11 the facts and circumstances concerning the matter to be
12 audited, examined, or investigated.
13 (3) Subpoenas shall be issued by the Chief Financial
14 Officer Comptroller or his or her designee under seal
15 commanding such witnesses to appear before the Chief Financial
16 Officer Comptroller or the Chief Financial Officer's
17 Comptroller's representative or the department at a specified
18 time and place and to bring books, records, and documents as
19 specified or to submit books, records, and documents for
20 inspection. Such subpoenas may be served by an authorized
21 representative of the Chief Financial Officer Comptroller or
22 the department.
23 (4) In the event of noncompliance with a subpoena
24 issued pursuant to this section, the Chief Financial Officer
25 Comptroller or the department may petition the circuit court
26 of the county in which the person subpoenaed resides or has
27 his or her principal place of business for an order requiring
28 the subpoenaed person to appear and testify and to produce
29 books, records, and documents as specified in the subpoena.
30 The court may grant legal, equitable, or injunctive relief,
31 including, but not limited to, issuance of a writ of ne exeat
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1 or the restraint by injunction or appointment of a receiver of
2 any transfer, pledge, assignment, or other disposition of such
3 person's assets or any concealment, alteration, destruction,
4 or other disposition of subpoenaed books, records, or
5 documents, as the court deems appropriate, until such person
6 has fully complied with such subpoena and the Chief Financial
7 Officer Comptroller or the department has completed the audit,
8 examination, or investigation. The Chief Financial Officer
9 Comptroller or the department is entitled to the summary
10 procedure provided in s. 51.011, and the court shall advance
11 the cause on its calendar. Costs incurred by the Chief
12 Financial Officer Comptroller or the department to obtain an
13 order granting, in whole or in part, such petition for
14 enforcement of a subpoena shall be charged against the
15 subpoenaed person, and failure to comply with such order shall
16 be a contempt of court.
17 Section 11. Section 17.06, Florida Statutes, is
18 amended to read:
19 17.06 Disallowed items and accounts.--The Chief
20 Financial Officer Comptroller shall erase from any original
21 account all items disallowed by him or her; and when the Chief
22 Financial Officer Comptroller shall reject the whole of any
23 account he or she shall write across the face of it the word
24 "disallowed," and the date, and file the same in the Chief
25 Financial Officer's Comptroller's office or deliver it to the
26 claimant.
27 Section 12. Section 17.075, Florida Statutes, is
28 amended to read:
29 17.075 Form of state warrants and other payment
30 orders; rules.--
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1 (1) The Department of Banking and Insurance Finance is
2 authorized to establish the form or forms of state warrants
3 that which are to be drawn by it and of other orders for
4 payment or disbursement of moneys out of the State Treasury
5 and to change the form thereof from time to time as the
6 department may consider necessary or appropriate. Such orders
7 for payment may be in any form, but, regardless of form, each
8 order shall be subject to the accounting and recordkeeping
9 requirements applicable to state warrants.
10 (2) The department shall adopt rules establishing
11 accounting and recordkeeping procedures for all payments made
12 by electronic transfer of funds or by any other means. Such
13 procedures shall be consistent with the statutory requirements
14 applicable to payments by state warrant.
15 Section 13. Section 17.076, Florida Statutes, is
16 amended to read:
17 17.076 Direct deposit of funds.--
18 (1) As used in this section:
19 (a) "Beneficiary" means any person who is drawing
20 salary or retirement benefits from the state or who is the
21 recipient of any lawful payment from state funds.
22 (b) "Department" means the Department of Banking and
23 Insurance Finance.
24 (2) The department shall establish a program for the
25 direct deposit of funds to the account of the beneficiary of
26 such a payment or disbursement in any financial institution
27 equipped for electronic fund transfers, which institution is
28 designated in writing by such beneficiary and has lawful
29 authority to accept such deposits. Direct deposit of funds
30 shall be by any electronic or other transfer medium approved
31 by the department for such purpose.
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1 (3) The department may contract with an authorized
2 financial institution for the services necessary to operate
3 the program. In order to implement the provisions of this
4 section, the Chief Financial Officer Comptroller is authorized
5 to deposit with that financial institution the funds payable
6 to the beneficiaries, in lump sum, by Chief Financial
7 Officer's Comptroller's warrant to make the authorized direct
8 deposits.
9 (4) The written authorization of a beneficiary shall
10 be filed with the department or its designee. Such
11 authorization shall remain in effect until withdrawn in
12 writing by the beneficiary or dishonored by the designated
13 financial institution.
14 (5) All direct deposit records made prior to October
15 1, 1986, are exempt from the provisions of s. 119.07(1). With
16 respect to direct deposit records made on or after October 1,
17 1986, the names of the authorized financial institutions and
18 the account numbers of the beneficiaries are confidential and
19 exempt from the provisions of s. 119.07(1).
20 (6) The department shall implement local option direct
21 deposit of funds for local governmental entities by January 1,
22 1996.
23 (7) To cover the department's actual costs for
24 processing the direct deposit of funds other than salary or
25 retirement benefits, the department may charge the beneficiary
26 of the direct deposit a reasonable fee. The department may
27 collect the fee by direct receipt from the beneficiary or by
28 subtracting the amount of the fee from the funds due the
29 beneficiary. Such fees collected by the department shall be
30 deposited into the Department of Banking and Finance
31 Administrative Trust Fund.
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1 (8) Effective July 1, 2000, All new recipients of
2 retirement benefits from this state shall be paid by direct
3 deposit of funds. A retiree may request from the department an
4 exemption from the provisions of this subsection when such
5 retiree can demonstrate a hardship. The department may pay
6 retirement benefits by state warrant when deemed
7 administratively necessary.
8 Section 14. Section 17.08, Florida Statutes, is
9 amended to read:
10 17.08 Accounts, etc., on which warrants drawn, to be
11 filed.--All accounts, vouchers, and evidence, upon which
12 warrants have heretofore been, or shall hereafter be, drawn
13 upon the treasury by the Chief Financial Officer Comptroller
14 shall be filed and deposited in the office of the Chief
15 Financial Officer Comptroller or the office of the Chief
16 Financial Officer's Comptroller's designee, in accordance with
17 requirements established by law the Secretary of State.
18 Section 15. Section 17.09, Florida Statutes, is
19 amended to read:
20 17.09 Application for warrants for salaries.--All
21 public officers who are entitled to salaries in this state,
22 shall make their application for warrants in writing, stating
23 for what terms and the amount they claim, which written
24 application shall be filed by the Chief Financial Officer
25 Comptroller as vouchers for the warrants issued thereupon.
26 Section 16. Section 17.10, Florida Statutes, is
27 amended to read:
28 17.10 Record of warrants issued.--The Chief Financial
29 Officer Comptroller shall cause to be entered in the warrant
30 register a record of the warrants issued during the previous
31 month, and shall make such entry in the record so required to
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1 be kept as shall show the number of each warrant issued, in
2 whose favor drawn, and the date it was issued.
3 Section 17. Section 17.11, Florida Statutes, is
4 amended to read:
5 17.11 To report disbursements made.--
6 (1) The Chief Financial Officer Comptroller shall make
7 in all his or her future annual reports an exhibit stated from
8 the record of disbursements made during the fiscal year, and
9 the several heads of expenditures under which such
10 disbursements were made.
11 (2) The Chief Financial Officer Comptroller shall also
12 cause to have reported from the Florida Accounting Information
13 Resource Subsystem no less than quarterly the disbursements
14 that which agencies have made to small businesses, as defined
15 in the Florida Small and Minority Business Assistance Act of
16 1985; to certified minority business enterprises in the
17 aggregate; and to certified minority business enterprises
18 broken down into categories of minority persons, as well as
19 gender and nationality subgroups. This information shall be
20 made available to the agencies, the Minority Business Advocacy
21 and Assistance Office, the Governor, the President of the
22 Senate, and the Speaker of the House of Representatives. Each
23 agency shall be responsible for the accuracy of information
24 entered into the Florida Accounting Information Resource
25 Subsystem for use in this reporting.
26 Section 18. Section 17.12, Florida Statutes, is
27 amended to read:
28 17.12 Authorized to issue warrants to tax collector or
29 sheriff for payment.--Whenever it appears shall appear to the
30 satisfaction of the Chief Financial Officer Comptroller of
31 this state from examination of the books of his or her office
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1 that the tax collector or the sheriff for any county in this
2 state has paid into the State Treasury, through mistake or
3 otherwise, a larger or greater sum than is actually due from
4 the tax said collector or sheriff, then the Chief Financial
5 Officer Comptroller may issue a warrant to the tax said
6 collector or sheriff for the sum so found to be overpaid.
7 Section 19. Section 17.13, Florida Statutes, is
8 amended to read:
9 17.13 To duplicate warrants lost or destroyed.--
10 (1) The Chief Financial Officer Comptroller is
11 required to duplicate any Comptroller's warrants that may have
12 been lost or destroyed, or may hereafter be lost or destroyed,
13 upon the owner thereof or the owner's agent or attorney
14 presenting the Chief Financial Officer Comptroller the
15 statement, under oath, reciting the number, date, and amount
16 of any warrant or the best and most definite description in
17 his or her knowledge and the circumstances of its loss; if the
18 Chief Financial Officer Comptroller deems it necessary, the
19 owner or the owner's agent or attorney shall file in the
20 office of the Chief Financial Officer Comptroller a surety
21 bond, or a bond with securities, to be approved by one of the
22 judges of the circuit court or one of the justices of the
23 Supreme Court, in a penalty of not less than twice the amount
24 of any warrants so duplicated, conditioned to indemnify the
25 state and any innocent holders thereof from any damages that
26 may accrue from such duplication.
27 (2) The Chief Financial Officer Comptroller is
28 required to duplicate any Chief Financial Officer's
29 Comptroller's warrant that may have been lost or destroyed, if
30 it was or may hereafter be lost or destroyed, when sent to any
31 payee via any state agency and was when such warrant is lost
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1 or destroyed prior to being received by the payee and if
2 provided the director of the state agency to whom the warrant
3 was sent presents to the Chief Financial Officer Comptroller a
4 statement, under oath, reciting the number, date, and amount
5 of the warrant lost or destroyed, the circumstances
6 surrounding the loss or destruction of such warrant, and any
7 additional information that the Chief Financial Officer
8 requests Comptroller shall request in regard to such warrant.
9 (3) Any duplicate Chief Financial Officer's
10 Comptroller's warrant issued in pursuance of this section is
11 the above provisions shall be of the same validity as the
12 original was before its loss.
13 Section 20. Section 17.14, Florida Statutes, is
14 amended to read:
15 17.14 To prescribe forms.--The Department of Banking
16 and Insurance Finance may prescribe the forms of all papers,
17 vouchers, reports, and returns and the manner of keeping the
18 accounts and papers to be used by the officers of this state
19 or other persons having accounts, claims, or demands against
20 the state or entrusted with the collection of any of the
21 revenue thereof or any demand due the same, which form shall
22 be pursued by such officer or other persons.
23 Section 21. Section 17.16, Florida Statutes, is
24 amended to read:
25 17.16 Seal.--The seal of office of the Chief Financial
26 Officer Comptroller of the state shall be the same as the seal
27 heretofore used by the Comptroller for that purpose.
28 Section 22. Section 17.17, Florida Statutes, is
29 amended to read:
30 17.17 Examination by Governor and report.--The office
31 of Chief Financial Officer Comptroller of the state, and the
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1 associated books, files, documents, records, and papers, shall
2 always remain be subject to the examination of the Governor of
3 this state, or any person the Governor authorizes may
4 authorize to examine the same; and on the first day of January
5 of each and every year, or oftener if called for by the
6 Governor, the Chief Financial Officer Comptroller shall make a
7 full report of all his or her official acts and proceedings
8 for the last fiscal year to the Governor, to be laid before
9 the Legislature with the Governor's message, and shall make
10 such further report as the constitution requires may require.
11 Section 23. Section 17.20, Florida Statutes, is
12 amended to read:
13 17.20 Assignment of claims for collection.--
14 (1) The Department of Banking and Insurance Finance
15 shall charge the state attorneys with the collection of all
16 claims that are placed in their hands for collection of money
17 or property for the state or any county or special district,
18 or that it otherwise requires them to collect. The charges
19 are evidence of indebtedness of a state attorney against whom
20 any charge is made for the full amount of the claim, until the
21 charges have been collected and paid into the treasury of the
22 state or of the county or special district or the legal
23 remedies of the state have been exhausted, or until the state
24 attorney demonstrates to the department that the failure to
25 collect the charges is not due to negligence and the
26 department has made a proper entry of satisfaction of the
27 charge against the state attorney.
28 (2) The department may assign the collection of any
29 claim to a collection agent who is registered and in good
30 standing pursuant to chapter 559, if the department determines
31 the assignation to be cost-effective. The department may pay
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1 an agent from any amount collected under the claim a fee that
2 the department and the agent have agreed upon; may authorize
3 the agent to deduct the fee from the amount collected; may
4 require the appropriate state agency, county, or special
5 district to pay the agent the fee from any amount collected by
6 the agent on its behalf; or may authorize the agent to add the
7 fee to the amount to be collected.
8 (3) Notwithstanding any other provision of law, in any
9 contract providing for the location or collection of unclaimed
10 property, the department may authorize the contractor to
11 deduct its fees and expenses for services provided under the
12 contract from the unclaimed property that the contractor has
13 recovered or collected under the contract. The department
14 shall annually report to the Governor, the President of the
15 Senate, and the Speaker of the House of Representatives the
16 total amount collected or recovered by each contractor during
17 the previous fiscal year and the total fees and expenses
18 deducted by each contractor.
19 Section 24. Section 17.21, Florida Statutes, is
20 amended to read:
21 17.21 Not to allow any claim of state attorney against
22 state until report made.--The Chief Financial Officer
23 Comptroller shall not audit or allow any claim that which any
24 state attorney may have against the state for services who
25 fails shall fail to make any report that which by law the
26 state attorney is required to make to the Chief Financial
27 Officer Comptroller of claims of the state which it is his or
28 her duty to collect.
29 Section 25. Section 17.22, Florida Statutes, is
30 amended to read:
31
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1 17.22 Notice to Department of Legal Affairs.--Whenever
2 the Department of Banking and Insurance Finance forwards any
3 bond or account or claim for suit to any state attorney, it
4 shall advise the Department of Legal Affairs of the fact,
5 giving it the amount of the claim and other necessary
6 particulars for its full information upon the subject.
7 Section 26. Section 17.25, Florida Statutes, is
8 amended to read:
9 17.25 May certify copies.--The Chief Financial Officer
10 Comptroller of this state may certify, under his or her seal
11 of office, copies of any record, paper, or document, by law
12 placed in the Chief Financial Officer's Comptroller's custody,
13 keeping, and care; and such certified copy shall have the same
14 force and effect as evidence as the original would have.
15 Section 27. Section 17.26, Florida Statutes, is
16 amended to read:
17 17.26 Cancellation of state warrants not presented
18 within 1 year.--
19 (1) If any state warrant issued by the Chief Financial
20 Officer Comptroller against any fund in the State Treasury is
21 not presented for payment within 1 year after the last day of
22 the month in which it was originally issued, the Chief
23 Financial Officer Comptroller may cancel the warrant and
24 credit the amount of the warrant to the fund upon which it is
25 drawn. If the warrant so canceled was issued against a fund
26 that is no longer operative, the amount of the warrant shall
27 be credited to the General Revenue Fund. The Chief Financial
28 Officer Treasurer shall not honor any state warrant after it
29 has been canceled.
30 (2) The funds represented by a warrant canceled under
31 subsection (1) are presumed abandoned by the payee or person
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1 entitled to the warrant and shall be reported and remitted as
2 unclaimed property under s. 717.117, except that written
3 notice to the apparent owner of the unclaimed property is not
4 required before filing of the report. An action may not be
5 commenced thereafter for recovery of funds represented by the
6 warrant, except as provided by chapter 717. This subsection
7 applies to all warrants issued on or after July 1, 1992.
8 (3) When a warrant canceled under subsection (1)
9 represents funds that are in whole or in part derived from
10 federal contributions and disposition of the funds under
11 chapter 717 would cause a loss of the federal contributions,
12 the Governor shall certify to the Chief Financial Officer
13 Comptroller that funds represented by such warrants are for
14 that reason exempt from treatment as unclaimed property.
15 Obligations represented by warrants are unenforceable after 1
16 year from the last day of the month in which the warrant was
17 originally issued. An action may not be commenced thereafter
18 on the obligation unless authorized by the federal program
19 from which the original warrant was funded and unless payment
20 of the obligation is authorized to be made from the current
21 federal funding. When a payee or person entitled to a warrant
22 subject to this paragraph requests payment, and payment from
23 current federal funding is authorized by the federal program
24 from which the original warrant was funded, the Chief
25 Financial Officer Comptroller may, upon investigation, issue a
26 new warrant to be paid out of the proper fund in the State
27 Treasury, provided the payee or other person executes under
28 oath the statement required by s. 17.13 or surrenders the
29 canceled warrant.
30 (4) If a valid obligation of the state is due, owing,
31 and unpaid and it becomes unenforceable for any reason because
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1 of the provisions and limitations contained in this section,
2 the person entitled to payment on the obligation may present a
3 claim for relief to the Legislature, provided the claim is
4 made within the time limitations presently provided by law.
5 (5) This section does not extend any applicable
6 statute of limitations or revive any barred claim with respect
7 to any state obligation outstanding and unpaid on July 1,
8 1995.
9 Section 28. Section 17.27, Florida Statutes, is
10 amended to read:
11 17.27 Microfilming and destroying records and
12 correspondence.--
13 (1) The Department of Banking and Insurance Finance
14 may destroy general correspondence files, and also any other
15 records that which the department considers to may deem no
16 longer require preservation, necessary to preserve in
17 accordance with retention schedules and destruction notices
18 established under rules of the Division of Library and
19 Information Services, records and information management
20 program, of the Department of State. Such schedules and
21 notices relating to financial records of the department shall
22 be subject to the approval of the Auditor General.
23 (2) The Department of Banking and Insurance Finance
24 may photograph, microphotograph, or reproduce on film any of
25 its such documents and records as it may select, in such
26 manner that each page will be exposed in exact conformity with
27 the original.
28 (3) The Department of Banking and Insurance Finance
29 may destroy any of such said documents after they have been
30 photographed and filed in accordance with the provisions of
31 subsection (1).
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1 (4) Photographs or microphotographs in the form of
2 film or prints of any records made in compliance with the
3 provisions of this section shall have the same force and
4 effect as the originals thereof would have, and shall be
5 treated as originals for the purpose of their admissibility in
6 evidence. Duly certified or authenticated reproductions of
7 such photographs or microphotographs shall be admitted in
8 evidence equally with the original photographs or
9 microphotographs.
10 Section 29. Section 17.28, Florida Statutes, is
11 amended to read:
12 17.28 Chief Financial Officer Comptroller may
13 authorize biweekly salary payments.--The Chief Financial
14 Officer Comptroller is authorized and may permit biweekly
15 salary payments to personnel upon written request by a
16 specific state agency. The Chief Financial Officer
17 Comptroller shall adopt promulgate reasonable rules and
18 regulations to carry out the intent of this section.
19 Section 30. Section 17.29, Florida Statutes, is
20 amended to read:
21 17.29 Authority to prescribe rules.--The Chief
22 Financial Officer may Comptroller has authority to adopt rules
23 pursuant to ss. 120.54 and 120.536(1) to implement duties
24 assigned by statute or the State Constitution. Such rules may
25 include, but are not limited to, the following:
26 (1) Procedures or policies relating to the processing
27 of payments from salaries, other personal services, or any
28 other applicable appropriation.
29 (2) Procedures for processing interagency and
30 intraagency payments that which do not require the issuance of
31 a state warrant.
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1 Section 31. Section 17.30, Florida Statutes, is
2 amended to read:
3 17.30 Dissemination of information.--The Chief
4 Financial Officer Comptroller may disseminate, in any form or
5 manner he or she considers appropriate, information regarding
6 the Chief Financial Officer's Comptroller's official duties.
7 Section 32. Section 17.32, Florida Statutes, is
8 amended to read:
9 17.32 Annual report of trust funds; duties of Chief
10 Financial Officer Comptroller.--
11 (1) On February 1 of each year, the Chief Financial
12 Officer Comptroller shall present to the President of the
13 Senate and the Speaker of the House of Representatives a
14 report listing all trust funds as defined in s. 215.32. The
15 report shall contain the following data elements for each fund
16 for the preceding fiscal year:
17 (a) The fund code.
18 (b) The title.
19 (c) The fund type according to generally accepted
20 accounting principles.
21 (d) The statutory authority.
22 (e) The beginning cash balance.
23 (f) Direct revenues.
24 (g) Nonoperating revenues.
25 (h) Operating disbursements.
26 (i) Nonoperating disbursements.
27 (j) The ending cash balance.
28 (k) The department and budget entity in which the fund
29 is located.
30 (2) The report shall separately list all funds that
31 received no revenues other than interest earnings or transfers
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1 from the General Revenue Fund or from other trust funds during
2 the preceding fiscal year.
3 (3) The report shall separately list all funds that
4 had unencumbered balances in excess of $2 million in each of
5 the 2 preceding fiscal years.
6 Section 33. Section 17.325, Florida Statutes, is
7 amended to read:
8 17.325 Governmental efficiency hotline; duties of
9 Chief Financial Officer Comptroller.--
10 (1) By September 1, 1992, The Chief Financial Officer
11 Comptroller shall establish and operate a statewide toll-free
12 telephone hotline to receive information or suggestions from
13 the public citizens of this state on how to improve the
14 operation of government, increase governmental efficiency, and
15 eliminate waste in government. The Chief Financial Officer
16 Comptroller shall report each month to the Appropriations
17 Committee of the House of Representatives and of the Senate
18 the information or suggestions received through the hotline
19 and the evaluations and determinations made by the affected
20 agency, as provided in subsection (3), with respect to such
21 information or suggestions.
22 (2) The Chief Financial Officer Comptroller shall
23 operate the hotline 24 hours a day. The Chief Financial
24 Officer Comptroller shall advertise the availability of the
25 hotline in newspapers of general circulation in this state and
26 shall provide for the posting of notices in conspicuous places
27 in state agency offices, city halls, county courthouses, and
28 places in which there is exposure to significant numbers of
29 the general public, including, but not limited to, local
30 convenience stores, shopping malls, shopping centers, gasoline
31 stations, or restaurants. The Chief Financial Officer
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1 Comptroller shall use the slogan "Tell us where we can 'Get
2 Lean'" for the hotline and in advertisements for the hotline.
3 (3) Each telephone call on the hotline shall be
4 received by the office of the Chief Financial Officer
5 Comptroller, and the office of the Chief Financial Officer
6 Comptroller shall conduct an evaluation to determine whether
7 if it is appropriate for the telephone call to be processed as
8 a "Get Lean" telephone call. If it is determined that the
9 telephone call should be processed as a "Get Lean" telephone
10 call, a record of each suggestion or item of information
11 received shall be entered into a log kept by the Chief
12 Financial Officer Comptroller. A caller on the hotline may
13 remain anonymous, and, if the caller provides his or her name,
14 the name shall be confidential. If a caller discloses that he
15 or she is a state employee, the Chief Financial Officer
16 Comptroller, in addition to maintaining a record as required
17 by this section, may refer any information or suggestion from
18 the caller to an existing state awards program administered by
19 the affected agency. The affected agency shall conduct a
20 preliminary evaluation of the efficacy of any suggestion or
21 item of information received through the hotline and shall
22 provide the Chief Financial Officer Comptroller with a
23 preliminary determination of the amount of revenues the state
24 might save by implementing the suggestion or making use of the
25 information.
26 (4) Any person who provides any information through
27 the hotline is shall be immune from liability for any use of
28 such information and is shall not be subject to any
29 retaliation by any employee of the state for providing such
30 information or making such suggestion.
31
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1 (5) The Chief Financial Officer may Comptroller shall
2 adopt any rule necessary to implement the establishment,
3 operation, and advertisement of the hotline.
4 Section 34. Section 17.41, Florida Statutes, is
5 amended to read:
6 17.41 Department of Banking and Insurance Finance
7 Tobacco Settlement Clearing Trust Fund.--
8 (1) The Department of Banking and Insurance Finance
9 Tobacco Settlement Clearing Trust Fund is created within that
10 department.
11 (2) Funds to be credited to the Tobacco Settlement
12 Clearing Trust Fund shall consist of payments received by the
13 state from settlement of State of Florida v. American Tobacco
14 Co., No. 95-1466AH (Fla. 15th Cir. Ct. 1996). Moneys received
15 from the settlement and deposited into the trust fund are
16 exempt from the service charges imposed under s. 215.20.
17 (3)(a) Subject to approval of the Legislature, all or
18 any portion of the state's right, title, and interest in and
19 to the tobacco settlement agreement may be sold to the Tobacco
20 Settlement Financing Corporation created pursuant to s.
21 215.56005. Any such sale shall be a true sale and not a
22 borrowing.
23 (b) Any moneys received by the state pursuant to any
24 residual interest retained in the tobacco settlement agreement
25 or the payments to be made under the tobacco settlement
26 agreement shall be deposited into the Tobacco Settlement
27 Clearing Trust Fund.
28 (4) Net proceeds of the sale of the tobacco settlement
29 agreement received by the state shall be immediately deposited
30 into the Lawton Chiles Endowment Fund, created in s. 215.5601,
31 without deposit to the Tobacco Settlement Clearing Trust Fund.
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1 (5) The department shall disburse funds, by
2 nonoperating transfer, from the Tobacco Settlement Clearing
3 Trust Fund to the tobacco settlement trust funds of the
4 various agencies in amounts equal to the annual appropriations
5 made from those agencies' trust funds in the General
6 Appropriations Act.
7 (6) Pursuant to the provisions of s. 19(f)(3), Art.
8 III of the State Constitution, the Tobacco Settlement Clearing
9 Trust Fund is exempt from the termination provisions of s.
10 19(f)(2), Art. III of the State Constitution.
11 Section 35. Section 17.43, Florida Statutes, is
12 amended to read:
13 17.43 Chief Financial Officer's Comptroller's Federal
14 Equitable Sharing Trust Fund.--
15 (1) The Chief Financial Officer's Comptroller's
16 Federal Equitable Sharing Trust Fund is created within the
17 Department of Banking and Insurance Finance. The department
18 may deposit into the trust fund receipts and revenues received
19 as a result of federal criminal, administrative, or civil
20 forfeiture proceedings and receipts and revenues received from
21 federal asset-sharing programs. The trust fund is exempt from
22 the service charges imposed by s. 215.20.
23 (2) Notwithstanding the provisions of s. 216.301 and
24 pursuant to s. 216.351, any balance in the trust fund at the
25 end of any fiscal year shall remain in the trust fund at the
26 end of the year and shall be available for carrying out the
27 purposes of the trust fund.
28 Section 36. Section 18.01, Florida Statutes, is
29 transferred, renumbered as section 17.44, Florida Statutes,
30 and amended to read:
31
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1 17.44 18.01 Oath and certificate of Chief Financial
2 Officer Treasurer.--The Chief Financial Officer Treasurer
3 shall, within 10 days before he or she enters upon the duties
4 of office, take and subscribe an oath or affirmation
5 faithfully to discharge the duties of office, which oath or
6 affirmation must be deposited with the custodian of state
7 records Department of State. The Chief Financial Officer
8 Treasurer shall also file with the custodian of state records
9 Department of State a certificate from the retiring Chief
10 Financial Officer Comptroller attesting that the retiring
11 Chief Financial Officer Treasurer has turned over vouchers for
12 all payments made as required by law, and that the Chief
13 Financial Officer's Treasurer's account has been truly
14 credited with the same, and that he or she has filed receipts
15 from his or her successor for all vouchers paid since the end
16 of the last quarter, and for balance of cash, and for all
17 bonds and other securities held by the Chief Financial Officer
18 Treasurer as such, and a certificate from each board of which
19 he or she is made by law ex officio treasurer, that he or she
20 has satisfactorily accounted to such board as its treasurer.
21 Section 37. Section 18.02, Florida Statutes, is
22 transferred, renumbered as section 17.45, Florida Statutes,
23 and amended to read:
24 17.45 18.02 Moneys paid on warrants.--The Chief
25 Financial Officer Treasurer shall pay all warrants drawn on
26 the treasury drawn by the Comptroller and other orders by the
27 Comptroller for the disbursement of state funds by electronic
28 means or by means of a magnetic tape or any other transfer
29 medium. No moneys shall be paid out of the treasury except on
30 such warrants or other orders of the Chief Financial Officer
31 Comptroller.
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1 Section 38. Section 18.021, Florida Statutes, is
2 transferred, renumbered as section 17.46, Florida Statutes,
3 and amended to read:
4 17.46 18.021 Chief Financial Officer Treasurer to
5 operate personal check-cashing service.--
6 (1) The Chief Financial Officer Treasurer is
7 authorized to operate a personal check-cashing service or a
8 remote financial service unit at the capitol for the benefit
9 of state employees or other responsible persons who properly
10 identify themselves.
11 (2) If a personal check is dishonored or a state
12 warrant is forged and the Chief Financial Officer Treasurer
13 has made diligent but unsuccessful effort to collect and has
14 forwarded the returned check for prosecution by the
15 appropriate state attorney, then he or she may include such
16 amount in his or her budget request to be considered during
17 the next legislative session.
18 Section 39. Section 18.06, Florida Statutes, is
19 transferred, renumbered as section 17.47, Florida Statutes,
20 and amended to read:
21 17.47 18.06 Examination by and monthly statements to
22 the Governor.--The office of the Treasurer of this state, and
23 the books, files, documents, records, and papers thereof,
24 shall always be subject to the examination of the Governor of
25 the state, or any person he or she may authorize to examine
26 same. The Chief Financial Officer Treasurer shall exhibit to
27 the Governor monthly a trial balance sheet from his or her
28 books and a statement of all the credits, moneys, or effects
29 on hand on the day for which the said trial balance sheet is
30 made, and the said statement accompanying the said trial
31 balance sheet shall particularly describe the exact character
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1 of funds, credits, and securities, and shall state in detail
2 the amount that which he or she may have representing cash,
3 including any not yet entered upon the books of his or her
4 office, and shall certify and sign the statement such
5 statement shall be certified and signed by the Treasurer
6 officially.
7 Section 40. Section 18.07, Florida Statutes, is
8 transferred, renumbered as section 17.48, F.S. and amended to
9 read:
10 17.48 18.07 Chief Financial Officer Treasurer to keep
11 record of warrants and of state funds and securities.--The
12 Chief Financial Officer Treasurer shall keep a record of the
13 warrants or other orders that of the Comptroller which the
14 Chief Financial Officer Treasurer pays and shall account for
15 all state funds and securities.
16 Section 41. Section 18.091, Florida Statutes, is
17 transferred, renumbered as section 17.49, Florida Statutes,
18 and amended to read:
19 17.49 18.091 Legislative sessions; additional
20 employees.--
21 (1) Whenever Hereafter during any period of time the
22 Legislature is of Florida may be in actual session, the Chief
23 Financial Officer Treasurer is empowered to employ additional
24 persons to assist in performing the services required of the
25 Chief Financial Officer Treasurer in connection with s.
26 18.021(1). The salary salaries to be paid to such an employee
27 employees of the Chief Financial Officer Treasurer shall not
28 exceed be in excess of the highest salary paid by the House of
29 Representatives or the state Senate for secretarial services;
30 and the salaries for such said employees shall begin with the
31 convening of the Legislature in session and shall continue for
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1 not more than 7 days after the close of the legislative
2 session; however, provided, that recesses of the Legislature
3 not in excess of 3 days shall be considered as time during
4 which the Legislature is actually in session.
5 (2) In addition to the regular annual appropriations
6 for the Chief Financial Officer Treasurer, there is hereby
7 appropriated for use of the Chief Financial Officer Treasurer
8 from the General Revenue Fund, from time to time as necessary,
9 sufficient sums to pay the salaries of the above-described
10 employees of the Chief Financial Officer Treasurer.
11 Section 42. Section 18.10, Florida Statutes, is
12 transferred, renumbered as section 17.50, Florida Statutes,
13 and amended to read:
14 17.50 18.10 Deposits and investments of state money.--
15 (1) The Chief Financial Officer Treasurer, or other
16 parties with the permission of the Chief Financial Officer
17 Treasurer, shall deposit the money of the state or any money
18 in the State Treasury in such qualified public depositories of
19 the state as will offer satisfactory collateral security for
20 such deposits, pursuant to chapter 280. It is the duty of the
21 Chief Financial Officer Treasurer, consistent with the cash
22 requirements of the state, to keep such money fully invested
23 or deposited as provided by law herein in order that the state
24 may realize maximum earnings and benefits.
25 (2) The Chief Financial Officer Treasurer shall make
26 funds available to meet the disbursement needs of the state.
27 Funds that which are not needed for this purpose shall be
28 placed in qualified public depositories that will pay rates
29 established by the Chief Financial Officer Treasurer at levels
30 not less than the prevailing rate for United States Treasury
31 securities with a corresponding maturity. If In the event
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1 money is available for interest-bearing time deposits or
2 savings accounts as provided herein and qualified public
3 depositories are unwilling to accept such money and pay
4 thereon the rates required established above, then such money
5 as which qualified public depositories are unwilling to accept
6 shall be invested in:
7 (a) Direct United States Treasury obligations.
8 (b) Obligations of the Federal Farm Credit Banks.
9 (c) Obligations of the Federal Home Loan Bank and its
10 district banks.
11 (d) Obligations of the Federal Home Loan Mortgage
12 Corporation, including participation certificates.
13 (e) Obligations guaranteed by the Government National
14 Mortgage Association.
15 (f) Obligations of the Federal National Mortgage
16 Association.
17 (g) Commercial paper of prime quality of the highest
18 letter and numerical rating as provided for by at least one
19 nationally recognized rating service.
20 (h) Time drafts or bills of exchange drawn on and
21 accepted by a commercial bank, otherwise known as "bankers
22 acceptances," which are accepted by a member bank of the
23 Federal Reserve System having total deposits of not less than
24 $400 million or which are accepted by a commercial bank which
25 is not a member of the Federal Reserve System with deposits of
26 not less than $400 million and which is licensed by a state
27 government or the Federal Government, and whose senior debt
28 issues are rated in one of the two highest rating categories
29 by a nationally recognized rating service and which are held
30 in custody by a domestic bank which is a member of the Federal
31 Reserve System.
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1 (i) Corporate obligations or corporate master notes of
2 any corporation within the United States, if the long-term
3 obligations of such corporation are rated by at least two
4 nationally recognized rating services in any one of the four
5 highest classifications. However, if such obligations are
6 rated by only one nationally recognized rating service, then
7 the obligations must shall be rated in any one of the two
8 highest classifications.
9 (j) Obligations of the Student Loan Marketing
10 Association.
11 (k) Obligations of the Resolution Funding Corporation.
12 (l) Asset-backed or mortgage-backed securities of the
13 highest credit quality.
14 (m) Any obligations not previously listed which are
15 guaranteed as to principal and interest by the full faith and
16 credit of the United States Government or are obligations of
17 United States agencies or instrumentalities which are rated in
18 the highest category by a nationally recognized rating
19 service.
20 (n) Commingled no-load investment funds or no-load
21 mutual funds in which all securities held by the funds are
22 authorized in this subsection.
23 (o) Money market mutual funds as defined and regulated
24 by the Securities and Exchange Commission.
25 (p) Obligations of state and local governments rated
26 in any of the four highest classifications by at least two
27 nationally recognized rating services. However, if such
28 obligations are rated by only one nationally recognized rating
29 service, then the obligations shall be rated in any one of the
30 two highest classifications.
31
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1 (q) Derivatives of investment instruments authorized
2 in paragraphs (a) through (m).
3 (r) Covered put and call options on investment
4 instruments authorized in this subsection for the purpose of
5 hedging transactions by investment managers to mitigate risk
6 or to facilitate portfolio management.
7 (s) Negotiable certificates of deposit issued by
8 financial institutions whose long-term debt is rated in one of
9 the three highest categories by at least two nationally
10 recognized rating services, the investment in which shall not
11 be prohibited by any provision of chapter 280.
12 (t) Foreign bonds denominated in United States dollars
13 and registered with the Securities and Exchange Commission for
14 sale in the United States, if the long-term obligations of
15 such issuers are rated by at least two nationally recognized
16 rating services in any one of the four highest
17 classifications. However, if such obligations are rated by
18 only one nationally recognized rating service, the obligations
19 must shall be rated in any one of the two highest
20 classifications.
21 (u) Convertible debt obligations of any corporation
22 domiciled within the United States, if the convertible debt
23 issue is rated by at least two nationally recognized rating
24 services in any one of the four highest classifications.
25 However, if such obligations are rated by only one nationally
26 recognized rating service, then the obligations must shall be
27 rated in any one of the two highest classifications.
28 (v) Securities not otherwise described in this
29 subsection. However, not more than 3 percent of the funds
30 under the control of the Treasurer shall be invested in
31 securities described in this paragraph.
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1
2 These investments may be in varying maturities and may be in
3 book-entry form. Investments made pursuant to this subsection
4 may be under repurchase agreement. The Chief Financial Officer
5 Treasurer is authorized to hire registered investment advisers
6 and other consultants to assist in investment management and
7 to pay fees directly from investment earnings. Investment
8 securities, proprietary investment services related to
9 contracts, performance evaluation services, investment-related
10 equipment or software used directly to assist investment
11 trading or investment accounting operations including bond
12 calculators, telerates, Bloombergs, special program
13 calculators, intercom systems, and software used in
14 accounting, communications, and trading, and advisory and
15 consulting contracts made under this section are exempt from
16 the provisions of chapter 287.
17 (3) If In the event the financial institutions in the
18 state do not make sufficient loan funds available for a
19 residential conservation program pursuant to any plan approved
20 by the Florida Public Service Commission under the Florida
21 Energy Efficiency and Conservation Act, the board may
22 authorize the investment of state funds, except retirement
23 trust funds, in such a loan program at rates not less than
24 prevailing United States Treasury bill rates. However, prior
25 to investment of such funds, the Florida Public Service
26 Commission shall develop a plan that is which must be approved
27 by the Legislature before implementation.
28 (4) All earnings on any investments made pursuant to
29 this section shall be credited to the General Revenue Fund,
30 except that earnings attributable to moneys made available
31
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1 pursuant to s. 17.54(3) s. 18.125(3) shall be credited pro
2 rata to the funds from which such moneys were made available.
3 (5) The fact that a municipal officer or a state
4 officer, including an officer of any municipal or state
5 agency, board, bureau, commission, institution, or department,
6 is a stockholder or an officer or director of a bank or
7 savings and loan association does will not bar such bank or
8 savings and loan association from being a depository of funds
9 coming under the jurisdiction of any such municipal officer or
10 state officer if it appears shall appear in the records of the
11 municipal or state office that the governing body of such
12 municipality or state agency has investigated and determined
13 that such municipal or state officer is not favoring such
14 banks or savings and loan associations over other qualified
15 banks or savings and loan associations.
16 (6) The Chief Financial Officer Treasurer is
17 designated the cash management officer for the state and is
18 charged with the coordination and supervision of procedures
19 providing for the efficient handling of financial assets under
20 the control of the State Treasury and each of the various
21 state agencies, and of the judicial branch, as defined in s.
22 216.011. This responsibility includes shall include the
23 supervision and approval of all banking relationships.
24 Pursuant to this responsibility, the Chief Financial Officer
25 Treasurer is authorized to obtain information from financial
26 institutions regarding depository accounts maintained by any
27 agency or institution of the State of Florida.
28 Section 43. Section 18.101, Florida Statutes, is
29 transferred, renumbered as section 17.51, Florida Statutes,
30 and amended to read:
31
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1 17.51 18.101 Deposits of public money outside the
2 State Treasury; revolving funds.--
3 (1) All moneys collected by state agencies, boards,
4 bureaus, commissions, institutions, and departments shall,
5 except as otherwise provided by law, be deposited in the State
6 Treasury. However, when the volume and complexity of
7 collections so justify, the Chief Financial Officer Treasurer
8 may give written approval for such moneys to be deposited in
9 clearing accounts outside the State Treasury in qualified
10 public depositories pursuant to chapter 280. Such deposits
11 shall only be made only in depositories designated by the
12 Chief Financial Officer Treasurer. No money may be maintained
13 in such clearing accounts for a period longer than approved by
14 the Chief Financial Officer Treasurer or 40 days, whichever is
15 shorter, prior to its being transmitted to the Chief Financial
16 Officer Treasurer or to an account designated by him or her,
17 distributed to a statutorily authorized account outside the
18 State Treasury, refunded, or transmitted to the Department of
19 Revenue. All depositories so designated shall pledge
20 sufficient collateral to constitute be security for such funds
21 as provided in chapter 280.
22 (2) Revolving funds authorized by the Chief Financial
23 Officer Comptroller for all state agencies, boards, bureaus,
24 commissions, institutions, and departments may be deposited by
25 such agencies, boards, bureaus, commissions, institutions, and
26 departments in qualified public depositories designated by the
27 Chief Financial Officer Treasurer for such revolving fund
28 deposits; and the depositories in which such deposits are made
29 must shall pledge collateral security as provided in chapter
30 280.
31
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1 (3) Notwithstanding the foregoing provisions, clearing
2 and revolving accounts may be established outside the state
3 when necessary to facilitate the authorized operations of any
4 agency, board, bureau, commission, institution, or department.
5 Any of such account accounts established in the United States
6 is shall be subject to the collateral security requirements of
7 chapter 280. Accounts established outside the United States
8 may be exempted from the requirements of chapter 280 as
9 provided in chapter 280; but before any unsecured account is
10 established, the agency requesting or maintaining the account
11 must shall recommend a financial institution to the Chief
12 Financial Officer Treasurer for designation to hold the
13 account and must shall submit evidence of the financial
14 condition, size, reputation, and relative prominence of the
15 institution from which the Chief Financial Officer Treasurer
16 can reasonably conclude that the institution is financially
17 sound before designating it to hold the account.
18 (4) Each department must shall furnish a statement to
19 the Chief Financial Officer Treasurer, on or before the 20th
20 of the month following the end of each calendar quarter,
21 listing each clearing account and revolving fund within that
22 department's jurisdiction. Such statement shall report, as of
23 the last day of the calendar quarter, the cash balance in each
24 revolving fund and that portion of the cash balance in each
25 clearing account that will eventually be deposited to the
26 State Treasury as provided by law. The Chief Financial
27 Officer Treasurer shall show the sum total of state funds in
28 clearing accounts and revolving funds, as most recently
29 reported to the Chief Financial Officer Treasurer by various
30 departments, in his or her monthly statement to the Governor,
31 pursuant to s. 18.06.
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1 Section 44. Section 18.103, Florida Statutes, is
2 transferred, renumbered as section 17.52, Florida Statutes,
3 and amended to read:
4 17.52 18.103 Safekeeping services of Chief Financial
5 Officer Treasurer.--
6 (1) The Chief Financial Officer Treasurer may accept
7 for safekeeping purposes, deposits of cash, securities, and
8 other documents or articles of value from any state agency as
9 defined in s. 216.011, or any county, municipality city, or
10 political subdivision thereof, or other public authority.
11 (2) The Chief Financial Officer Treasurer may, in his
12 or her discretion, establish a fee for processing, servicing,
13 and safekeeping deposits and other documents or articles of
14 value held in the Chief Financial Officer's Treasurer's vaults
15 as requested by the various entities or as provided for by
16 law. Such fee shall be equivalent to the fee charged by
17 financial institutions for processing, servicing, and
18 safekeeping the same types of deposits and other documents or
19 articles of value.
20 (3) The Chief Financial Officer Treasurer shall
21 collect in advance, and persons so served shall pay to the
22 Chief Financial Officer Treasurer in advance, the
23 miscellaneous charges as follows:
24 (a) For copies of documents or records on file with
25 the Treasurer, per page..................................$.50.
26 (b) For each certificate of the Chief Financial
27 Officer Treasurer, certified or under the Chief Financial
28 Officer's Treasurer's seal, authenticating any document or
29 other instrument........................................$5.00.
30 (4) All fees collected for the services described in
31 this section shall be deposited in the Chief Financial
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1 Officer's Treasurer's Administrative and Investment Trust
2 Fund.
3 Section 45. Section 18.104, Florida Statutes, is
4 transferred, renumbered as section 17.53, Florida Statutes,
5 and amended to read:
6 17.53 18.104 Treasury Cash Deposit Trust Fund.--
7 (1) There is hereby created in the State Treasury the
8 Treasury Cash Deposit Trust Fund. Cash deposits made pursuant
9 to s. 17.52 s. 18.103 shall be deposited into this fund.
10 (2) Interest earned on cash deposited into this fund
11 shall be prorated and paid to the depositing entities.
12 Section 46. Section 18.125, Florida Statutes, is
13 transferred, renumbered as section 17.54, Florida Statutes,
14 and amended to read:
15 17.54 18.125 Chief Financial Officer Treasurer; powers
16 and duties in the investment of certain funds.--
17 (1) The Chief Financial Officer Treasurer, acting with
18 the approval of a majority of the State Board of
19 Administration, shall invest all general revenue funds and all
20 the trust funds and all agency funds of each state agency, and
21 of the judicial branch, as defined in s. 216.011, and may,
22 upon request, invest funds of any statutorily created board,
23 association, or entity, except for the funds required to be
24 invested pursuant to ss. 215.44-215.53, by the procedure and
25 in the authorized securities prescribed in s. 17.50 s. 18.10;
26 for this purpose, the Chief Financial Officer Treasurer shall
27 be authorized to open and maintain one or more demand and
28 safekeeping accounts in any bank or savings association for
29 the investment and reinvestment and the purchase, sale, and
30 exchange of funds and securities in the accounts. Funds in
31 such accounts used solely for investments and reinvestments
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1 shall be considered investment funds and not funds on deposit,
2 and such funds shall be exempt from the provisions of chapter
3 280. In addition, the securities or investments purchased or
4 held under the provisions of this section and s. 17.50 s.
5 18.10 may be loaned to securities dealers and banks and may be
6 registered by the Chief Financial Officer Treasurer in the
7 name of a third-party nominee in order to facilitate such
8 loans, provided the loan is collateralized by cash or United
9 States government securities having a market value of at least
10 100 percent of the market value of the securities loaned. The
11 Chief Financial Officer Treasurer shall keep a separate
12 account, designated by name and number, of each fund.
13 Individual transactions and totals of all investments, or the
14 share belonging to each fund, shall be recorded in the
15 accounts.
16 (2) By and with the consent and approval of any
17 constitutional board, the judicial branch, or agency now
18 having the constitutional power to make investments and in
19 accordance with this section, the Chief Financial Officer
20 Treasurer shall have the power to make purchases, sales,
21 exchanges, investments, and reinvestments for and on behalf of
22 any such board.
23 (3)(a) It is the duty of each state agency, and of the
24 judicial branch, now or hereafter charged with the
25 administration of the funds referred to in subsection (1) to
26 make such moneys available for investment as fully as is
27 consistent with the cash requirements of the particular fund
28 and to authorize investment of such moneys by the Chief
29 Financial Officer Treasurer.
30 (b) Monthly, and more often as circumstances require,
31 such agency or judicial branch shall notify the Chief
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1 Financial Officer Treasurer of the amount available for
2 investment; and the moneys shall be invested by the Chief
3 Financial Officer Treasurer. Such notification shall include
4 the name and number of the fund for which the investments are
5 to be made and the life of the investment if the principal sum
6 is to be required for meeting obligations. This subsection,
7 however, shall not be construed to make available for
8 investment any funds other than those referred to in
9 subsection (1).
10 (4)(a) There is hereby created in the State Treasury
11 the Chief Financial Officer's Treasurer's Administrative and
12 Investment Trust Fund.
13 (b) The Chief Financial Officer Treasurer shall make
14 an annual assessment of 0.12 percent against the average daily
15 balance of those moneys made available pursuant to this
16 section and 0.2 percent against the average daily balance of
17 those funds requiring investment in a separate account. The
18 proceeds of this assessment shall be deposited in the Chief
19 Financial Officer's Treasurer's Administrative and Investment
20 Trust Fund.
21 (c) The moneys so received and deposited in the fund
22 shall be used by the Chief Financial Officer Treasurer to
23 defray the expense of his or her office in the discharge of
24 the administrative and investment powers and duties prescribed
25 by this section and this chapter, including the maintaining of
26 an office and necessary supplies therefor, essential equipment
27 and other materials, salaries and expenses of required
28 personnel, and all other legitimate expenses relating to the
29 administrative and investment powers and duties imposed upon
30 and charged to the Chief Financial Officer Treasurer under
31 this section and this chapter. The unencumbered balance in the
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1 trust fund at the close of each quarter may shall not exceed
2 $750,000. Any funds in excess of this amount shall be
3 transferred unallocated to the General Revenue Fund. However,
4 fees received from deferred compensation participants pursuant
5 to s. 112.215 shall not be transferred to the General Revenue
6 Fund and shall be used to operate the deferred compensation
7 program.
8 (5) The transfer of the powers, duties, and
9 responsibilities of existing state agencies and of the
10 judicial branch made by this section to the Chief Financial
11 Officer includes Treasurer shall include only the particular
12 powers, duties, and responsibilities hereby transferred, and
13 all other existing powers are shall in no way be affected by
14 this section.
15 Section 47. Section 18.15, Florida Statutes, is
16 transferred, renumbered as section 17.55, Florida Statutes,
17 and amended to read:
18 17.55 18.15 Interest on state moneys deposited; when
19 paid.--Interest on state moneys deposited in qualified public
20 depositories under s. 17.50 is s. 18.10 shall be payable to
21 the Chief Financial Officer Treasurer quarterly or
22 semiannually.
23 Section 48. Section 18.17, Florida Statutes, is
24 transferred, renumbered as section 17.56, Florida Statutes,
25 and amended to read:
26 17.56 18.17 Chief Financial Officer Treasurer not to
27 issue evidences of indebtedness.--It is not lawful for the
28 Chief Financial Officer Treasurer of this state to issue any
29 treasury certificates, or any other evidences of indebtedness,
30 for any purpose whatever, and the Chief Financial Officer
31 Treasurer is prohibited from issuing the same.
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1 Section 49. Section 18.20, Florida Statutes, is
2 transferred, renumbered as section 18.57, Florida Statutes,
3 and amended to read:
4 17.57 18.20 Chief Financial Officer Treasurer to make
5 reproductions of certain warrants, records, and documents.--
6 (1) All vouchers or checks heretofore or hereafter
7 drawn by appropriate court officials of the several counties
8 of the state against money deposited with the Chief Financial
9 Officer Treasurer under the provisions of s. 43.17, and paid
10 by the Chief Financial Officer Treasurer, may be photographed,
11 microphotographed, or reproduced on film by the Chief
12 Financial Officer Treasurer. Such photographic film must
13 shall be durable material, and the device used to so reproduce
14 such warrants, vouchers, or checks must shall be one that
15 which accurately reproduces the originals thereof in all
16 detail.; and Such photographs, microphotographs, or
17 reproductions on film must shall be placed in conveniently
18 accessible and identified files and must shall be preserved by
19 the Chief Financial Officer Treasurer as a part of the
20 permanent records of his or her office. When any such
21 warrants, vouchers, or checks have been so photographed,
22 microphotographed, or reproduced on film, and the photographs,
23 microphotographs, or reproductions on film thereof have been
24 placed in files as a part of the permanent records of the
25 office of the Chief Financial Officer Treasurer as aforesaid,
26 he or she the Treasurer is authorized to return such warrants,
27 vouchers, or checks to the offices of the respective county
28 officials who drew them, the same and such warrants, vouchers,
29 or checks shall be retained and preserved in the such offices
30 to which they have been returned as a part of the permanent
31 records of those such offices.
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1 (2) Such photographs, microphotographs, or
2 reproductions on film of said warrants, vouchers, or checks
3 shall be deemed to be original records for all purposes; and
4 any copy or reproduction thereof made from the such original
5 film, duly certified by the Chief Financial Officer Treasurer
6 as a true and correct copy or reproduction made from such
7 film, shall be considered deemed to be a transcript,
8 exemplification, or certified copy of the original warrant,
9 voucher, or check such copy represents, and shall in all cases
10 and in all courts and places be admitted and received in
11 evidence with the same like force and effect as the original
12 thereof might be.
13 (3) The Chief Financial Officer Treasurer is also
14 hereby authorized to photograph, microphotograph, or reproduce
15 on film, all records and documents of his or her said office,
16 as the Chief Financial Officer Treasurer may, in his or her
17 discretion, select; and the said Chief Financial Officer
18 Treasurer is hereby authorized to destroy any of the said
19 documents or records after they have been photographed and
20 filed and after audit of the Chief Financial Officer's
21 Treasurer's office has been completed for the period embracing
22 the dates of the said documents and records.
23 (4) Photographs or microphotographs in the form of
24 film or prints of any records made in compliance with the
25 provisions of this section shall have the same force and
26 effect as the originals thereof would have, and shall be
27 treated as originals for the purpose of their admissibility in
28 evidence. Duly certified or authenticated reproductions of
29 such photographs or microphotographs shall be admitted in
30 evidence equally with the original photographs or
31 microphotographs.
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1 Section 50. Section 18.23, Florida Statutes, is
2 transferred, renumbered as section 17.58, Florida Statutes,
3 and amended to read:
4 17.58 18.23 Chief Financial Officer Treasurer to
5 prescribe forms.--The Chief Financial Officer Treasurer may
6 prescribe the forms, and the manner of keeping such forms the
7 same, for all receipts, credit advices, abstracts, reports,
8 and other papers furnished the Chief Financial Officer
9 Treasurer by the officers of this state or other persons or
10 entities as a result of their having, or depositing, state
11 moneys.
12 Section 51. Section 18.24, Florida Statutes, is
13 transferred, renumbered as section 17.59, Florida Statutes,
14 and amended to read:
15 17.59 18.24 Securities in book-entry form.--Any
16 security that which:
17 (1)(a) Is eligible to be held in book-entry form on
18 the books of the Federal Reserve Book-Entry System; or
19 (b) Is eligible for deposit in a depository trust
20 clearing system established to hold and transfer securities by
21 computerized book-entry systems; and that which
22 (2)(a) Is held in the name of the State Chief
23 Financial Officer Treasurer or in the name of the State
24 Insurance Commissioner; or
25 (b) Is pledged to the State Chief Financial Officer,
26 Treasurer or to the State Insurance Commissioner;
27
28 under any state law for any purpose whatsoever, may be held in
29 book-entry form on the books of the Federal Reserve Book-Entry
30 System or on deposit in a depository trust clearing system.
31
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1 Section 52. Sections 18.03, 18.05, 18.08, 18.09,
2 18.22, 20.12, and 20.13, Florida Statutes, are repealed.
3 Section 53. If any law that is amended by this act was
4 also amended by a law enacted at the 2002 Regular Session of
5 the Legislature, such laws shall be construed as if they had
6 been enacted at the same session of the Legislature, and full
7 effect should be given to each if that is possible.
8 Section 54. This act shall take effect January 7,
9 2003.
10
11 *****************************************
12 SENATE SUMMARY
13 Creates the Department of Banking and Insurance and
transfers to it the powers, duties, functions, property,
14 personnel, records, unexpended balances of
appropriations, and other funds of the Department of
15 Insurance and of the Department of Banking and Finance.
Abolishes the Department of Insurance and the Department
16 of Banking and Finance.
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18
19
20
21
22
23
24
25
26
27
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