Senate Bill sb0226

    Florida Senate - 2003                                   SB 226

    By Senator Wasserman Schultz





    34-225-03

  1                      A bill to be entitled

  2         An act relating to the School District Capital

  3         Outlay Trust Fund; amending s. 1013.03, F.S.;

  4         providing for administration of the trust fund

  5         by the Department of Education; creating the

  6         trust fund within the department and specifying

  7         the moneys that comprise the fund; exempting

  8         the trust fund from service charges imposed by

  9         s. 215.20, F.S.; providing that balances

10         remaining at the end of a fiscal year shall

11         remain in the trust fund; providing for future

12         review and termination or re-creation of the

13         trust fund; providing a contingent effective

14         date.

15  

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

17  

18         Section 1.  Subsection (5) of section 1013.03, Florida

19  Statutes, is amended to read:

20         1013.03  Functions of the department.--The functions of

21  the Department of Education as it pertains to educational

22  facilities shall include, but not be limited to, the

23  following:

24         (5)  Administer, under the supervision of the

25  Commissioner of Education, the Public Education Capital Outlay

26  and Debt Service Trust Fund, and the School District and

27  Community College District Capital Outlay and Debt Service

28  Trust Fund, and the School District Capital Outlay Trust Fund.

29         Section 2.  School District Capital Outlay Trust

30  Fund.--

31  

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






    Florida Senate - 2003                                   SB 226
    34-225-03




 1         (1)  The School District Capital Outlay Trust Fund is

 2  created within the Department of Education. The trust fund

 3  shall be comprised of moneys deposited pursuant to section

 4  199.292(2), Florida Statutes, and otherwise appropriated by

 5  the Legislature for school district capital outlay purposes,

 6  including school construction, renovation, and repair and

 7  other uses set out in section 1011.71(2) and (5), Florida

 8  Statutes. The trust fund is exempt from the service charges

 9  imposed by section 215.20, Florida Statutes.

10         (2)  Notwithstanding the provisions of section 216.301,

11  Florida Statutes, and pursuant to the provisions of section

12  216.351, Florida Statutes, any balance in the trust fund at

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

14  the end of that year and shall be available for carrying out

15  the purposes of the trust fund.

16         (3)  Pursuant to the provisions of s. 19(f)(2), Art.

17  III of the State Constitution, the trust fund shall, unless

18  terminated sooner, be terminated on July 1, 2007. Prior to its

19  scheduled termination, the trust fund shall be reviewed as

20  provided in section 215.3206(1) and (2), Florida Statutes.

21         Section 3.  This act shall take effect on the same date

22  as Senate Bill     or similar legislation amending section

23  199.292, Florida Statutes, to provide for deposit of funds in

24  the School District Capital Outlay Trust Fund takes effect if

25  such legislation is adopted in the same legislative session or

26  an extension thereof and becomes law.

27  

28            *****************************************

29                          SENATE SUMMARY

30    Creates the School District Capital Outlay Trust Fund
      within the Department of Education.
31  

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