Senate Bill sb1278c1
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Florida Senate - 2004 CS for SB 1278
By the Committee on Appropriations; and Senator Peaden
309-2355-04
1 A bill to be entitled
2 An act relating to the Biomedical Research
3 Trust Fund in the Department of Health;
4 amending s. 17.41, F.S.; requiring the
5 Department of Financial Services to disburse
6 certain funds from the Tobacco Settlement
7 Clearing Trust Fund to the Biomedical Research
8 Trust Fund; amending s. 20.435, F.S.;
9 authorizing the Department of Health to provide
10 for the investment of funds in the Biomedical
11 Research Trust Fund; authorizing the Governor
12 to certify undisbursed funds for a specified
13 period following appropriation; amending s.
14 215.5601, F.S.; providing requirements for the
15 management of unencumbered balances in the
16 trust fund, to conform; providing an effective
17 date.
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19 Be It Enacted by the Legislature of the State of Florida:
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21 Section 1. Subsection (5) of section 17.41, Florida
22 Statutes, is amended to read:
23 17.41 Department of Financial Services Tobacco
24 Settlement Clearing Trust Fund.--
25 (5) The department shall disburse funds, by
26 nonoperating transfer, from the Tobacco Settlement Clearing
27 Trust Fund to the tobacco settlement trust funds of the
28 various agencies or to the Biomedical Research Trust Fund in
29 the Department of Health, as appropriate, in amounts equal to
30 the annual appropriations made from those agencies' trust
31 funds in the General Appropriations Act.
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CODING: Words stricken are deletions; words underlined are additions.
Florida Senate - 2004 CS for SB 1278
309-2355-04
1 Section 2. Paragraph (h) of subsection (1) of section
2 20.435, Florida Statutes, as amended by section 2 of chapter
3 2003-421, Laws of Florida, is amended to read:
4 20.435 Department of Health; trust funds.--
5 (1) The following trust funds are hereby created, to
6 be administered by the Department of Health:
7 (h) Biomedical Research Trust Fund.
8 1. Funds to be credited to the trust fund shall
9 consist of funds deposited pursuant to s. 215.5601. Funds
10 shall be used for the purposes of the James and Esther King
11 Biomedical Research Program as specified in ss. 215.5602 and
12 288.955. The trust fund is exempt from the service charges
13 imposed by s. 215.20.
14 2. Notwithstanding the provisions of s. 216.301 and
15 pursuant to s. 216.351, any balance in the trust fund at the
16 end of any fiscal year shall remain in the trust fund at the
17 end of the year and shall be available for carrying out the
18 purposes of the trust fund. The department may invest these
19 funds independently through the Chief Financial Officer or may
20 negotiate a trust agreement with the State Board of
21 Administration for the investment management of any balance in
22 the trust fund.
23 3. Notwithstanding s. 216.301 and pursuant to s.
24 216.351, any balance of any appropriation from the Biomedical
25 Research Trust Fund which is not disbursed but which is
26 obligated pursuant to contract or committed to be expended may
27 be certified by the Governor for up to 3 years following the
28 effective date of the original appropriation.
29 4.3. The trust fund shall, unless terminated sooner,
30 be terminated on July 1, 2008.
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CODING: Words stricken are deletions; words underlined are additions.
Florida Senate - 2004 CS for SB 1278
309-2355-04
1 Section 3. Paragraph (e) of subsection (5) of section
2 215.5601, Florida Statutes, is amended to read:
3 215.5601 Lawton Chiles Endowment Fund.--
4 (5) AVAILABILITY OF FUNDS; USES.--
5 (e) Notwithstanding s. 216.301 and pursuant to s.
6 216.351, all unencumbered balances of appropriations from each
7 department's respective Tobacco Settlement Trust Fund as of
8 June 30 or undisbursed balances as of December 31 shall revert
9 to the endowment's principal. Unencumbered balances in the
10 Biomedical Research Trust Fund shall be managed as provided in
11 s. 20.435(1)(h)2. Unencumbered or undisbursed balances
12 appropriated for biomedical research shall revert to the
13 principal in the separately reserved and accounted-for portion
14 of the endowment established for biomedical research
15 activities.
16 Section 4. This act shall take effect July 1, 2004.
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18 STATEMENT OF SUBSTANTIAL CHANGES CONTAINED IN
COMMITTEE SUBSTITUTE FOR
19 Senate Bill 1278
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21 Provides additional clarification to the Department of
Financial Services to specify that the Biomedical Research
22 Trust Fund shall receive transfers from the Tobacco Settlement
Clearing Trust Fund.
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Allows for the investment of Biomedical Research Trust Fund
24 balances either through the Chief Financial Officer or through
the State Board of Administration.
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Allows the balances of appropriations from the Biomedical
26 Research Trust Fund to be expended over a period of three
years because of the long-term nature of biomedical research.
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