SENATE AMENDMENT
    Bill No. SB 36-A
    Amendment No. 1   Barcode 181318
                            CHAMBER ACTION
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11  The Committee on Education recommended the following amendment
12  :
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14         Senate Amendment (with title amendment) 
15         On page 5, lines 26 through 31, delete those lines
16  
17  and insert:  
18         Section 5.  Subsection (5) of section 17.076, Florida
19  Statutes, is amended to read:
20         17.076  Direct deposit of funds.--
21         (5)  All direct deposit records made prior to October
22  1, 1986, are exempt from the provisions of s. 119.07(1). With
23  respect to direct deposit records made on or after October 1,
24  1986, the names of the authorized financial institutions and
25  the account numbers of the beneficiaries are confidential and
26  exempt from the provisions of s. 119.07(1) and s. 24(a), Art.
27  I of the State Constitution. Notwithstanding this exemption
28  and the provisions of s. 119.07(3)(dd), the department may
29  provide a state university, upon request, with that
30  university's employee or vendor direct deposit authorization
31  information on file with the department in order to
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SENATE AMENDMENT Bill No. SB 36-A Amendment No. 1 Barcode 181318 1 accommodate the transition to the university accounting 2 system. The state university shall maintain the 3 confidentiality of all such information provided by the 4 department. 5 Section 6. Subsection (2) of section 110.161, Florida 6 Statutes, is amended to read: 7 110.161 State employees; pretax benefits program.-- 8 (2) As used in this section, "employee" means any 9 individual filling an authorized and established position in 10 the executive, legislative, or judicial branch of the state, 11 including the employees of the State Board of Administration 12 and state universities . 13 Section 7. Subsection (2) of section 112.215, Florida 14 Statutes, is amended to read: 15 112.215 Government employees; deferred compensation 16 program.-- 17 (2) For the purposes of this section, the term 18 "employee" means any person, whether appointed, elected, or 19 under contract, providing services for the state; any state 20 agency or county or other political subdivision of the state; 21 any municipality; any state university board of trustees; or 22 any constitutional county officer under s. 1(d), Art. VIII of 23 the State Constitution for which compensation or statutory 24 fees are paid. 25 Section 8. Subsections (1) through (6) of section 26 287.064, Florida Statutes, are amended to read: 27 287.064 Consolidated financing of deferred-payment 28 purchases.-- 29 (1) The Division of Bond Finance of the State Board of 30 Administration and the Comptroller shall plan and coordinate 31 deferred-payment purchases made by or on behalf of the state 2 1:58 PM 05/15/03 s0036A.ed.01
SENATE AMENDMENT Bill No. SB 36-A Amendment No. 1 Barcode 181318 1 or its agencies or by or on behalf of state universities or 2 state community colleges participating under this section 3 pursuant to s. 1001.74(5) or s. 1001.64(26), respectively. The 4 Division of Bond Finance shall negotiate and the Comptroller 5 shall execute agreements and contracts to establish master 6 equipment financing agreements for consolidated financing of 7 deferred-payment, installment sale, or lease purchases with a 8 financial institution or a consortium of financial 9 institutions. As used in this act, the term "deferred-payment" 10 includes installment sale and lease-purchase. 11 (a) The period during which equipment may be acquired 12 under any one master equipment financing agreement shall be 13 limited to not more than 3 years. 14 (b) Repayment of the whole or a part of the funds 15 drawn pursuant to the master equipment financing agreement may 16 continue beyond the period established pursuant to paragraph 17 (a). 18 (c) The interest rate component of any master 19 equipment financing agreement shall be deemed to comply with 20 the interest rate limitation imposed in s. 287.063 so long as 21 the interest rate component of every interagency, state 22 university, or community college agreement entered into under 23 such master equipment financing agreement complies with the 24 interest rate limitation imposed in s. 287.063. Such interest 25 rate limitation does not apply when the payment obligation 26 under the master equipment financing agreement is rated by a 27 nationally recognized rating service in any one of the three 28 highest classifications, which rating services and 29 classifications are determined pursuant to rules adopted by 30 the Comptroller. 31 (2) Unless specifically exempted by the Comptroller, 3 1:58 PM 05/15/03 s0036A.ed.01
SENATE AMENDMENT Bill No. SB 36-A Amendment No. 1 Barcode 181318 1 all deferred-payment purchases, including those made by a 2 state university or community college that is participating 3 under this section, shall be acquired by funding through 4 master equipment financing agreements. The Comptroller is 5 authorized to exempt any purchases from consolidated financing 6 when, in his or her judgment, alternative financing would be 7 cost-effective or otherwise beneficial to the state. 8 (3) The Comptroller may require agencies to enter into 9 interagency agreements and may require participating state 10 universities or community colleges to enter into systemwide 11 agreements for the purpose of carrying out the provisions of 12 this act. 13 (a) The term of any interagency or systemwide 14 agreement shall expire on June 30 of each fiscal year but 15 shall automatically be renewed annually subject to 16 appropriations and deferred-payment schedules. The period of 17 any interagency or systemwide agreement shall not exceed the 18 useful life of the equipment for which the agreement was made 19 as determined by the Comptroller. 20 (b) The interagency or systemwide agreements may 21 include, but are not limited to, equipment costs, terms, and a 22 pro rata share of program and issuance expenses. 23 (4) Each state university or community college may 24 choose to have its purchasing agreements involving 25 administrative and instructional materials consolidated under 26 this section. 27 (5) The Comptroller is authorized to automatically 28 debit each agency's or state university's funds and each 29 community college's portion of the Community College Program 30 Fund consistently with the deferred-payment schedules. 31 (6) There is created the Consolidated Payment Trust 4 1:58 PM 05/15/03 s0036A.ed.01
SENATE AMENDMENT Bill No. SB 36-A Amendment No. 1 Barcode 181318 1 Fund in the Comptroller's office for the purpose of 2 implementing the provisions of this act. All funds debited 3 from each agency, state university, and each community college 4 may be deposited in the trust fund and shall be used to meet 5 the financial obligations incurred pursuant to this act. Any 6 income from the investment of funds may be used to fund 7 administrative costs associated with this program. 8 Section 9. Subsection (6) of section 440.38, Florida 9 Statutes, is amended to read: 10 440.38 Security for compensation; insurance carriers 11 and self-insurers.-- 12 (6) The state and its boards, bureaus, departments, 13 and agencies and all of its political subdivisions which 14 employ labor, and the state universities, shall be deemed 15 self-insurers under the terms of this chapter, unless they 16 elect to procure and maintain insurance to secure the benefits 17 of this chapter to their employees; and they are hereby 18 authorized to pay the premiums for such insurance. 19 Section 10. Subsection (19) of section 1001.74, 20 Florida Statutes, is amended to read: 21 1001.74 Powers and duties of university boards of 22 trustees.-- 23 (19) Each board of trustees shall establish the 24 personnel program for all employees of the university, 25 including the president, pursuant to the provisions of chapter 26 1012 and, in accordance with rules and guidelines of the State 27 Board of Education, including: compensation and other 28 conditions of employment, recruitment and selection, 29 nonreappointment, standards for performance and conduct, 30 evaluation, benefits and hours of work, leave policies, 31 recognition and awards, inventions and works, travel, learning 5 1:58 PM 05/15/03 s0036A.ed.01
SENATE AMENDMENT Bill No. SB 36-A Amendment No. 1 Barcode 181318 1 opportunities, exchange programs, academic freedom and 2 responsibility, promotion, assignment, demotion, transfer, 3 tenure and permanent status, ethical obligations and conflicts 4 of interest, restrictive covenants, disciplinary actions, 5 complaints, appeals and grievance procedures, and separation 6 and termination from employment. The Department of Management 7 Services shall retain authority over state university 8 employees for programs established in ss. 110.123, 110.1232, 9 110.1234, and 110.1238, and 110.161 and in chapters 121, 122, 10 and 238. 11 Section 11. Paragraphs (a) and (b) of subsection (2) 12 of section 1009.21, Florida Statutes, are amended, and 13 paragraph (d) is added to said subsection, to read: 14 1009.21 Determination of resident status for tuition 15 purposes.--Students shall be classified as residents or 16 nonresidents for the purpose of assessing tuition in community 17 colleges and state universities. 18 (2)(a) To qualify as a resident for tuition purposes: 19 1. A person or, if that person is a dependent child, 20 his or her parent or parents must have established legal 21 residence in this state and must have maintained legal 22 residence in this state for at least 12 months immediately 23 prior to his or her initial enrollment at a Florida 24 postsecondary educational institution. For purposes of this 25 section, the term "initial enrollment" is defined as the first 26 day of class qualification. 27 2. Every applicant for admission to an institution of 28 higher education shall be required to make a statement as to 29 his or her length of residence in the state and, further, 30 shall establish that his or her presence or, if the applicant 31 is a dependent child, the presence of his or her parent or 6 1:58 PM 05/15/03 s0036A.ed.01
SENATE AMENDMENT Bill No. SB 36-A Amendment No. 1 Barcode 181318 1 parents in the state currently is, and during the requisite 2 12-month qualifying period was, for the purpose of maintaining 3 a bona fide domicile, rather than for the purpose of 4 maintaining a mere temporary residence or abode incident to 5 enrollment in an institution of higher education. 6 (b) However, with respect to a dependent child living 7 with an adult relative other than the child's parent, such 8 child may qualify as a resident for tuition purposes if the 9 adult relative is a legal resident who has maintained legal 10 residence in this state for at least 12 months immediately 11 prior to the child's initial enrollment at a Florida 12 postsecondary educational institution qualification, provided 13 the child has resided continuously with such relative for the 14 5 years immediately prior to the child's initial enrollment 15 qualification, during which time the adult relative has 16 exercised day-to-day care, supervision, and control of the 17 child. 18 (d) A person who is classified as a nonresident for 19 tuition purposes may become eligible for reclassification as a 20 resident for tuition purposes if that person, or if that 21 person is a dependent child, his or her parent, presents 22 documentation that supports permanent residency in this state, 23 such as documentation of permanent full-time employment for 24 the previous 12 months or the purchase of a home in this state 25 and residence therein for the prior 12 months. 26 Section 12. Effective upon this act becoming a law and 27 applicable retroactive to January 7, 2003, section 1010.10, 28 Florida Statutes, is created to read: 29 1010.10 Florida Uniform Management of Institutional 30 Funds Act.-- 31 (1) SHORT TITLE.--This section may be cited as the 7 1:58 PM 05/15/03 s0036A.ed.01
SENATE AMENDMENT Bill No. SB 36-A Amendment No. 1 Barcode 181318 1 "Florida Uniform Management of Institutional Funds Act." 2 (2) DEFINITIONS.--As used in this section, the term: 3 (a) "Endowment fund" means an institutional fund, or 4 any part thereof, not wholly expendable by the institution on 5 a current basis under the terms of the applicable gift 6 instrument. 7 (b) "Governing board" means the body responsible for 8 the management of an institution or of an institutional fund. 9 (c) "Institution" means an incorporated or 10 unincorporated organization organized and operated exclusively 11 for the advancement of educational purposes, or a governmental 12 entity to the extent that it holds funds exclusively for 13 educational purposes. 14 (d) "Institutional fund" means a fund held by an 15 institution for its exclusive use, benefit, or purposes. The 16 term excludes a fund held for an institution by a trustee that 17 is not an institution. The term also excludes a fund in which 18 a beneficiary that is not an institution has an interest, 19 other than possible rights that could arise upon violation or 20 failure of the purposes of the fund. 21 (e) "Instrument" means a will; deed; grant; 22 conveyance; agreement; memorandum; electronic record; writing; 23 or other governing document, including the terms of any 24 institutional solicitations from which an institutional fund 25 resulted, under which property is transferred to or held by an 26 institution as an institutional fund. 27 (3) EXPENDITURE OF ENDOWMENT FUNDS.-- 28 (a) A governing board may expend so much of an 29 endowment fund as the governing board determines to be prudent 30 for the uses and purposes for which the endowment fund is 31 established, consistent with the goal of conserving the 8 1:58 PM 05/15/03 s0036A.ed.01
SENATE AMENDMENT Bill No. SB 36-A Amendment No. 1 Barcode 181318 1 purchasing power of the endowment fund. In making its 2 determination the governing board shall use reasonable care, 3 skill, and caution in considering the following: 4 1. The purposes of the institution; 5 2. The intent of the donors of the endowment fund; 6 3. The terms of the applicable instrument; 7 4. The long-term and short-term needs of the 8 institution in carrying out its purposes; 9 5. The general economic conditions; 10 6. The possible effect of inflation or deflation; 11 7. The other resources of the institution; and 12 8. Perpetuation of the endowment. 13 14 Expenditures made under this paragraph will be considered 15 prudent if the amount expended is consistent with the goal of 16 preserving the purchasing power of the endowment fund. 17 (b) A restriction upon the expenditure of an endowment 18 fund may not be implied from a designation of a gift as an 19 endowment or from a direction or authorization in the 20 instrument to use only "income," "interest," "dividends," or 21 "rents, issues or profits," or "to preserve the principal 22 intact," or words of similar import. 23 (c) The provisions of paragraph (a) shall not apply to 24 instruments if the instrument so indicates by stating, "I 25 direct that the expenditure provision of paragraph (a) of 26 subsection (3) of the Florida Uniform Management of 27 Institutional Funds Act not apply to this gift" or words of 28 similar import. 29 (d) This subsection does not limit the authority of a 30 governing board to expend funds as permitted under other law, 31 the terms of the instrument, or the charter of the 9 1:58 PM 05/15/03 s0036A.ed.01
SENATE AMENDMENT Bill No. SB 36-A Amendment No. 1 Barcode 181318 1 institution. 2 (e) Except as otherwise provided, this subsection 3 applies to instruments executed or in effect before or after 4 the effective date of this section. 5 (4) STANDARD OF CONDUCT.-- 6 (a) Members of a governing board shall invest and 7 manage an institutional fund as a prudent investor would, by 8 considering the purposes, distribution requirements, and other 9 circumstances of the fund. In satisfying this standard, the 10 governing board shall exercise reasonable care, skill, and 11 caution. 12 (b) A governing board's investment and management 13 decisions about individual assets shall be made not in 14 isolation but in the context of the institutional fund's 15 portfolio of investments as a whole and as a part of an 16 overall investment strategy that provides risk and return 17 objectives reasonably suited to the fund and to the 18 institution. 19 (c) Among circumstances that a governing board shall 20 consider are: 21 1. Long-term and short-term needs of the institution 22 in carrying out its purposes; 23 2. Its present and anticipated financial resources; 24 3. General economic conditions; 25 4. The possible effect of inflation or deflation; 26 5. The expected tax consequences, if any, of 27 investment decisions or strategies; 28 6. The role that each investment or course of action 29 plays within the overall investment portfolio of the 30 institutional fund; 31 7. The expected total return from income and the 10 1:58 PM 05/15/03 s0036A.ed.01
SENATE AMENDMENT Bill No. SB 36-A Amendment No. 1 Barcode 181318 1 appreciation of its investments; 2 8. Other resources of the institution; 3 9. The needs of the institution and the institutional 4 fund for liquidity, regularity of income, and preservation or 5 appreciation of capital; and 6 10. An asset's special relationship or special value, 7 if any, to the purposes of the applicable gift instrument or 8 to the institution. 9 (d) A governing board shall make a reasonable effort 10 to verify the facts relevant to the investment and management 11 of institutional fund assets. 12 (e) A governing board shall diversify the investments 13 of an institutional fund unless the board reasonably 14 determines that, because of special circumstances, the 15 purposes of the fund are better served without diversifying. 16 (f) A governing board shall invest and manage the 17 assets of an institutional fund solely in the interest of the 18 institution. 19 (5) INVESTMENT AUTHORITY.--In addition to an 20 investment otherwise authorized by law or by the applicable 21 gift instrument, and without restriction to investments a 22 fiduciary may make, the governing board, subject to any 23 specific limitations in the applicable gift instrument or in 24 the applicable law, other than law relating to investments by 25 a fiduciary: 26 (a) Within a reasonable time after receiving property, 27 shall review the property and make and implement decisions 28 concerning the retention and disposition of the assets, in 29 order to bring the portfolio of the institutional fund into 30 compliance with the purposes, terms, distribution 31 requirements, and other circumstances of the institution, and 11 1:58 PM 05/15/03 s0036A.ed.01
SENATE AMENDMENT Bill No. SB 36-A Amendment No. 1 Barcode 181318 1 with the requirements of this section; 2 (b) May invest in any kind of property or type of 3 investment consistent with the standards of this section; 4 (c) May include all or any part of an institutional 5 fund in any pooled or common fund maintained by the 6 institution; and 7 (d) May invest all or any part of the institutional 8 fund in any other pooled or common fund available for 9 investment, including shares or interests in regulated 10 investment companies, mutual funds, common trust funds, 11 investment partnerships, real estate investment trusts, or 12 similar organizations in which funds are commingled and 13 investment determinations are made by persons other than the 14 governing board. 15 (6) DELEGATION OF INVESTMENT MANAGEMENT.-- 16 (a) Except as otherwise provided by applicable law 17 relating to governmental institutions or funds, a governing 18 board may delegate investment and management functions that a 19 prudent governing body could properly delegate under the 20 circumstances. A governing board shall exercise reasonable 21 care, skill, and caution in: 22 1. Selecting an agent; 23 2. Establishing the scope and terms of the delegation, 24 consistent with the purposes of the institutional fund; and 25 3. Periodically reviewing the agent's actions to 26 monitor the agent's performance and the agent's compliance 27 with the terms of the delegation. 28 (b) In performing a delegated function, an agent owes 29 a duty to the governing board to exercise reasonable care to 30 comply with the terms of the delegation. 31 (c) The members of a governing board who comply with 12 1:58 PM 05/15/03 s0036A.ed.01
SENATE AMENDMENT Bill No. SB 36-A Amendment No. 1 Barcode 181318 1 the requirements of paragraph (a) are not liable for the 2 decisions or actions of the agent to whom the function was 3 delegated. 4 (d) By accepting the delegation of an investment or 5 management function from a governing board of an institution 6 that is subject to the laws of this state, an agent submits to 7 the jurisdiction of the courts of this state in all actions 8 arising from the delegation. 9 (7) INVESTMENT COSTS.--In investing and managing trust 10 assets, a governing board may only incur costs that are 11 appropriate and reasonable in relation to the assets and the 12 purposes of the institution. 13 (8) RELEASE OF RESTRICTIONS ON USE OR INVESTMENT.-- 14 (a) With the written consent of the donor, a governing 15 board may release, in whole or in part, a restriction imposed 16 by the applicable instrument on the use or investment of an 17 institutional fund. 18 (b) If written consent of the donor cannot be obtained 19 by reason of the donor's death, disability, unavailability, or 20 impossibility of identification, a governing board may 21 release, in whole or in part, a restriction imposed by the 22 applicable instrument on the use or investment of an 23 institutional fund if the fund has a total value of less than 24 $100,000 and if the governing board, in its fiduciary 25 judgment, concludes that the value of the fund is insufficient 26 to justify the cost of administration as a separate 27 institutional fund. 28 (c) If written consent of the donor cannot be obtained 29 by reason of the donor's death, disability, unavailability, or 30 impossibility of identification, a governing board may apply 31 in the name of the institution to the circuit court of the 13 1:58 PM 05/15/03 s0036A.ed.01
SENATE AMENDMENT Bill No. SB 36-A Amendment No. 1 Barcode 181318 1 county in which the institution is located for release of a 2 restriction imposed by the applicable instrument on the use or 3 investment of an institutional fund. The Attorney General 4 shall be notified of the application and shall be given an 5 opportunity to be heard. If the court finds that the 6 restriction is unlawful, impracticable, impossible to achieve, 7 or wasteful, it may by order release the restriction in whole 8 or in part. A release under this subsection may not change an 9 endowment fund to a fund that is not an endowment fund. 10 (d) A release under this subsection may not allow a 11 fund to be used for purposes other than the educational 12 purposes of the institution affected. 13 (e) This subsection does not limit the application of 14 the doctrine of cy pres. 15 (9) UNIFORMITY OF APPLICATION AND CONSTRUCTION.--This 16 act shall be applied and construed so as to effectuate its 17 general purpose to make uniform the law with respect to the 18 subject of this act among those states which enact it. 19 Section 13. Section 1011.94, Florida Statutes, is 20 amended to read: 21 1011.94 Trust Fund for University Major Gifts.-- 22 (1) There is established a Trust Fund for University 23 Major Gifts. The purpose of the trust fund is to enable each 24 university and New College to provide donors with an incentive 25 in the form of matching grants for donations for the 26 establishment of permanent endowments and sales tax exemption 27 matching funds received pursuant to s. 212.08(5)(j), which 28 must be invested, with the proceeds of the investment used to 29 support university priorities as established by the university 30 board of trustees libraries and instruction and research 31 programs, as defined by the State Board of Education. All 14 1:58 PM 05/15/03 s0036A.ed.01
SENATE AMENDMENT Bill No. SB 36-A Amendment No. 1 Barcode 181318 1 funds appropriated for the challenge grants, new donors, major 2 gifts, sales tax exemption matching funds pursuant to s. 3 212.08(5)(j), or eminent scholars program must be deposited 4 into the trust fund and invested pursuant to s. 18.125 until 5 the Board of Governors State Board of Education allocates the 6 funds to universities to match private donations. 7 Notwithstanding s. 216.301 and pursuant to s. 216.351, any 8 undisbursed balance remaining in the trust fund and interest 9 income accruing to the portion of the trust fund which is not 10 matched and distributed to universities must remain in the 11 trust fund and be used to increase the total funds available 12 for challenge grants. Funds deposited in the trust fund for 13 the sales tax exemption matching program authorized in s. 14 212.08(5)(j), and interest earnings thereon, shall be 15 maintained in a separate account within the Trust Fund for 16 University Major Gifts, and may be used only to match 17 qualified sales tax exemptions that a certified business 18 designates for use by state universities and community 19 colleges to support research and development projects 20 requested by the certified business. The Board of Governors 21 State Board of Education may authorize any university to 22 encumber the state matching portion of a challenge grant from 23 funds available under s. 1011.45. 24 (2) The Board of Governors State Board of Education 25 shall specify the process for submission, documentation, and 26 approval of requests for matching funds, accountability for 27 endowments and proceeds of endowments, allocations to 28 universities, restrictions on the use of the proceeds from 29 endowments, and criteria used in determining the value of 30 donations. 31 (3)(a) The Board of Governors State Board of Education 15 1:58 PM 05/15/03 s0036A.ed.01
SENATE AMENDMENT Bill No. SB 36-A Amendment No. 1 Barcode 181318 1 shall allocate the amount appropriated to the trust fund to 2 each university and New College based on the amount of the 3 donation and the restrictions applied to the donation. 4 (b) Donations for a specific purpose must be matched 5 in the following manner: 6 1. Each university that raises at least $100,000 but 7 no more than $599,999 from a private source must receive a 8 matching grant equal to 50 percent of the private 9 contribution. 10 2. Each university that raises a contribution of at 11 least $600,000 but no more than $1 million from a private 12 source must receive a matching grant equal to 70 percent of 13 the private contribution. 14 3. Each university that raises a contribution in 15 excess of $1 million but no more than $1.5 million from a 16 private source must receive a matching grant equal to 75 17 percent of the private contribution. 18 4. Each university that raises a contribution in 19 excess of $1.5 million but no more than $2 million from a 20 private source must receive a matching grant equal to 80 21 percent of the private contribution. 22 5. Each university that raises a contribution in 23 excess of $2 million from a private source must receive a 24 matching grant equal to 100 percent of the private 25 contribution. 26 6. The amount of matching funds used to match a single 27 gift in any given year shall be limited to $3 million. The 28 total amount of matching funds available for any single gift 29 shall be limited to $15 million, to be distributed in equal 30 amounts of $3 million per year over a period of 5 years. 31 (c) The Board of Governors State Board of Education 16 1:58 PM 05/15/03 s0036A.ed.01
SENATE AMENDMENT Bill No. SB 36-A Amendment No. 1 Barcode 181318 1 shall encumber state matching funds for any pledged 2 contributions, pro rata, based on the requirements for state 3 matching funds as specified for the particular challenge grant 4 and the amount of the private donations actually received by 5 the university for the respective challenge grant. 6 (4) Matching funds may be provided for contributions 7 encumbered or pledged under the Eminent Scholars Act prior to 8 July 1, 1994, and for donations or pledges of any amount equal 9 to or in excess of the prescribed minimums which are pledged 10 for the purpose of this section. 11 (5)(a) Each university foundation and New College 12 Foundation shall establish a challenge grant account for each 13 challenge grant as a depository for private contributions and 14 state matching funds to be administered on behalf of the Board 15 of Governors State Board of Education, the university, or New 16 College. State matching funds must be transferred to a 17 university foundation or New College Foundation upon 18 notification that the university or New College has received 19 and deposited the amount specified in this section in a 20 foundation challenge grant account. 21 (b) The foundation serving a university and New 22 College Foundation each has the responsibility for the 23 maintenance and investment of its challenge grant account and 24 for the administration of the program on behalf of the 25 university or New College, pursuant to procedures specified by 26 the Board of Governors State Board of Education. Each 27 foundation shall include in its annual report to the Board of 28 Governors State Board of Education information concerning 29 collection and investment of matching gifts and donations and 30 investment of the account. 31 (c) A donation of at least $600,000 and associated 17 1:58 PM 05/15/03 s0036A.ed.01
SENATE AMENDMENT Bill No. SB 36-A Amendment No. 1 Barcode 181318 1 state matching funds may be used to designate an Eminent 2 Scholar Endowed Chair pursuant to procedures specified by the 3 Board of Governors State Board of Education. 4 (6) The donations, state matching funds, or proceeds 5 from endowments established under this section may not be 6 expended for the construction, renovation, or maintenance of 7 facilities or for the support of intercollegiate athletics. 8 Section 14. If any law that is amended by this act was 9 also amended by a law enacted at the 2003 Regular Session of 10 the Legislature, such laws shall be construed as if they had 11 been enacted during the same session of the Legislature, and 12 full effect should be given to each if that is possible. 13 Section 15. Except as otherwise expressly provided in 14 this act, this act shall take effect July 1, 2003. 15 16 17 ================ T I T L E A M E N D M E N T =============== 18 And the title is amended as follows: 19 On page 1, lines 22 through 25, delete those lines 20 21 and insert: 22 circumstances; amending s. 17.076, F.S.; 23 providing an exception to a public records 24 exemption; amending s. 110.161, F.S.; including 25 employees of state universities in the 26 definition of "employee" for purposes of the 27 pretax benefits program; amending s. 112.215, 28 F.S.; including employees of state university 29 boards of trustees in the definition of 30 "employee" for purposes of the deferred 31 compensation program; amending s. 287.064, 18 1:58 PM 05/15/03 s0036A.ed.01
SENATE AMENDMENT Bill No. SB 36-A Amendment No. 1 Barcode 181318 1 F.S.; authorizing state universities to 2 continue to participate in the consolidated 3 equipment financing program; amending s. 4 440.38, F.S.; including state universities as 5 self-insurers for purposes of workers' 6 compensation; amending s. 1001.74, F.S.; adding 7 a cross reference relating to pretax benefits 8 for state university employees; F.S.; amending 9 s. 1009.21, F.S.; revising provisions relating 10 to determination of resident status for tuition 11 purposes; providing for reclassification; 12 creating s. 1010.10, F.S.; creating the Florida 13 Uniform Management of Institutional Funds Act; 14 providing definitions; providing for 15 expenditure of endowment funds by a governing 16 board; providing for a standard of conduct; 17 providing investment authority; providing for 18 delegation of investment management; providing 19 for investment costs; providing for uniformity 20 of application and construction; amending s. 21 1011.94, F.S., relating to the Trust Fund for 22 University Major Gifts; revising provisions 23 relating to use of proceeds; replacing 24 references to State Board of Education with 25 Board of Governors; providing limitations on 26 matching funds; providing for construction of 27 the act in pari materia with laws enacted 28 during the Regular Session of the Legislature; 29 providing an effective date. 30 31 19 1:58 PM 05/15/03 s0036A.ed.01