HB 1775, Engrossed 1 2003
1	A bill to be entitled
2	An act relating to trust funds; creating s. 215.6175,
3	F.S.; creating the Transportation Revenue Bond Trust Fund
4	within the Department of Transportation; providing for
5	sources of moneys and purposes; providing for annual
6	carryforward of unused funds; providing a contingent
7	effective date.
8
9	Be It Enacted by the Legislature of the State of Florida:
10
11	Section 1. Section 215.6175, Florida Statutes, is created
12	to read:
13	215.6175 Transportation Revenue Bond Trust Fund.--
14	(1) There is created the Transportation Revenue Bond Trust
15	Fund to be administered by the Department of Transportation. The
16	trust fund is created pursuant to s. 19, Art. III of the State
17	Constitution and s. 339.081(2), and by action of the Department
18	of Transportation in issuing, from time to time, revenue bonds
19	secured by state and federal revenues and credited to the trust
20	fund.
21	(2) Net proceeds from current and any future revenue bonds
22	issued for eligible transportation projects will be credited to
23	the Transportation Revenue Bond Trust Fund to provide for the
24	payment of eligible project costs.
25	(3) Notwithstanding the provisions of s. 216.301 and
26	pursuant to s. 216.351, any balance in the Transportation
27	Revenue Bond Trust Fund at the end of any fiscal year shall
28	remain in the trust fund at the end of the year and shall be
29	available for carrying out the purposes of the trust fund.
30	Section 2. This act shall take effect July 1, 2003, if
31	House Bill 1773 or similar legislation is adopted in the same
32	legislative session or an extension thereof and becomes law.