Senate Bill sb1742er

    ENROLLED

    2003 Legislature                                CS for SB 1742



  1                                 

  2         An act relating to trust funds; creating the

  3         Transportation Revenue Bond Trust Fund within

  4         the Department of Transportation; providing for

  5         sources of funds and purposes; providing for

  6         use of the end-of-year balance of the trust

  7         fund; providing a contingent effective date.

  8  

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

10  

11         Section 1.  Transportation Revenue Bond Trust Fund.--

12         (1)  The Transportation Revenue Bond Trust Fund is

13  created within the Department of Transportation. The purpose

14  of the trust fund is for the deposit of funds received by the

15  department from the proceeds or issuance of revenue bonds

16  secured by state and federal revenues and credited to the

17  trust fund.

18         (2)  Net proceeds from revenue bonds issued for

19  eligible transportation projects shall be credited to the

20  trust fund to provide for the payment of eligible project

21  costs.

22         (3)  Notwithstanding the provisions of s. 216.301 and

23  pursuant to the requirements of s. 216.351, any balance in the

24  trust fund at the end of any fiscal year shall remain in the

25  trust fund at the end of the year and shall be available for

26  carrying out the purposes of the trust fund.

27         Section 2.  This act shall take effect July 1, 2003,

28  but it shall not take effect unless it is enacted by a

29  three-fifths vote of the membership of each house of the

30  Legislature.

31  


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