Senate Bill sb0156c1

    Florida Senate - 2004                            CS for SB 156

    By the Committee on Commerce, Economic Opportunities, and
    Consumer Services; and Senator Saunders




    310-1281-04

  1                      A bill to be entitled

  2         An act relating to trust funds; creating the

  3         Entertainment Industry Financial Incentive

  4         Trust Fund; providing for sources of funds and

  5         purposes; requiring funds to remain in the

  6         trust fund at the end of each fiscal year;

  7         providing for future review and termination or

  8         re-creation of the fund; providing a contingent

  9         effective date.

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

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13         Section 1.  (1)  The Entertainment Industry Financial

14  Incentive Trust Fund is created within, and shall be

15  administered by, the Office of Tourism, Trade, and Economic

16  Development. Moneys credited to the fund shall be those

17  appropriated from the General Revenue Fund or from other

18  sources to make incentive payments under section 288.1254,

19  Florida Statutes. The purpose of the trust fund is to

20  facilitate the payment of incentives under such program.

21         (2)  Notwithstanding section 216.301, Florida Statutes,

22  and under section 216.351, Florida Statutes, any balance in

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

24  the trust fund at the end of the fiscal year and shall be

25  available for carrying out the purposes of the trust fund.

26         (3)  In accordance with Section 19(f)(2), Article III

27  of the State Constitution, the trust fund must, unless

28  terminated sooner, be terminated on July 1, 2008. Before its

29  scheduled termination, the trust fund must be reviewed as

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

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    Florida Senate - 2004                            CS for SB 156
    310-1281-04




 1         Section 2.  This act shall take effect upon becoming a

 2  law, but it shall not take effect unless it is enacted by a

 3  three-fifths vote of the membership of each house of the

 4  Legislature.

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 6          STATEMENT OF SUBSTANTIAL CHANGES CONTAINED IN
                       COMMITTEE SUBSTITUTE FOR
 7                         Senate Bill 156

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 9  The committee substitute requires that balances in the trust
    fund at the end of each fiscal year shall remain in the fund
10  and be available for carrying out the purposes of the fund.

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