Senate Bill sb0766

    Florida Senate - 2003                                   SB 766

    By Senator Carlton





    309-316-03

  1                      A bill to be entitled

  2         An act relating to trust funds; re-creating the

  3         Student Loan Operating Trust Fund within the

  4         Department of Education without modification

  5         and placing it on the standard review cycle;

  6         carrying forward current balances and

  7         continuing current sources and uses thereof;

  8         repealing s. 1009.86(3), F.S.; abrogating

  9         provisions relating to the termination of the

10         trust fund, to conform; providing an effective

11         date.

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13         WHEREAS, the Legislature wishes to extend the life of

14  the Student Loan Operating Trust Fund within the Department of

15  Education, which is otherwise scheduled to be terminated

16  pursuant to constitutional mandate, and

17         WHEREAS, the Legislature has reviewed the trust fund

18  before its scheduled termination date and has found that it

19  continues to meet an important public purpose, and

20         WHEREAS, the Legislature has found that existing public

21  policy concerning the trust fund sets adequate parameters for

22  its use, NOW, THEREFORE,

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

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26         Section 1.  (1)  The Student Loan Operating Trust Fund

27  within the Department of Education, FLAIR number 48-2-397,

28  which is to be terminated pursuant to Section 19(f), Article

29  III of the State Constitution on July 1, 2003, is re-created

30  for the period of July 1, 2003, to November 4, 2004.

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






    Florida Senate - 2003                                   SB 766
    309-316-03




 1         (2)  All current balances of the trust fund are carried

 2  forward, and all current sources and uses of the trust fund

 3  are continued.

 4         Section 2.  Subsection (3) of section 1009.86, Florida

 5  Statutes, as created by section 468 of chapter 2002-387, Laws

 6  of Florida, is repealed.

 7         Section 3.  This act shall take effect July 1, 2003.

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10                          SENATE SUMMARY

11    Re-creates the Student Loan Operating Trust Fund within
      the Department of Education and places it on the standard
12    review cycle.

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