Senate Bill sb1370

    Florida Senate - 2003                                  SB 1370

    By Senator Wise





    5-1280-03

  1                      A bill to be entitled

  2         An act relating to the remuneration of state

  3         university presidents; defining the terms

  4         "public funds," "remuneration," and "cash

  5         equivalent compensation"; limiting the annual

  6         remuneration of a state university president to

  7         $225,000 from public funds; providing certain

  8         limitations on benefits for state university

  9         presidents under the Florida Retirement System;

10         authorizing a party to provide cash or

11         cash-equivalent compensation in excess of

12         annual limit from nonpublic funds; eliminating

13         any state obligation to provide cash or

14         cash-equivalent compensation for state

15         university presidents under certain

16         circumstances; providing for prospective

17         application; providing an effective date.

18  

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

20  

21         Section 1.  Remuneration of state university

22  presidents; limitations.--

23         (1)  DEFINITIONS.--As used in this section, the term:

24         (a)  "Public funds" means funds appropriated from the

25  General Revenue Fund, funds appropriated from state trust

26  funds, tuition and fees, or any funds from a state university

27  trust fund regardless of repository.

28         (b)  "Remuneration" means salary, bonuses, and

29  cash-equivalent compensation paid to a state university

30  president by his or her employer for work performed, excluding

31  health insurance benefits and retirement benefits.

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






    Florida Senate - 2003                                  SB 1370
    5-1280-03




 1         (c)  "Cash-equivalent compensation" means any benefit

 2  that may be assigned an equivalent cash value.

 3         (2)  LIMITATIONS ON COMPENSATION.--Notwithstanding any

 4  other law, resolution, or rule to the contrary, a state

 5  university president may not receive more than $225,000 in

 6  remuneration annually from public funds. Only compensation, as

 7  such term is defined in section 121.02(22), Florida Statutes,

 8  provided to a state university president may be used in

 9  calculating benefits under chapter 121, Florida Statutes.

10         (3)  EXCEPTIONS.--This section does not prohibit any

11  party from providing cash or cash-equivalent compensation from

12  funds that are not public funds to a state university

13  president in excess of the limit in subsection (2). If a party

14  is unable or unwilling to fulfill an obligation to provide

15  cash or cash-equivalent compensation to a state university

16  president as permitted under this subsection, public funds may

17  not be used to fulfill such obligation.

18         (4)  APPLICATION.--This section applies only to

19  contracts or contract extensions that are executed or have an

20  effective date on or after the effective date of this section.

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

22  law.

23  

24            *****************************************

25                          SENATE SUMMARY

26    Limits the annual remuneration of a state university
      president from public funds to $225,000. Requires that
27    salary compensation, as defined, be used to calculate
      benefits for state university presidents under the
28    Florida Retirement System. Authorizes cash or
      cash-equivalent compensation in excess of annual limit
29    from nonpublic funds. (See bill for details.)

30  

31  

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