Senate Bill sb1278e1

    CS for SB 1278                                 First Engrossed



  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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    CS for SB 1278                                 First Engrossed



 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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    CS for SB 1278                                 First Engrossed



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