Senate Bill sb1690

    Florida Senate - 2004                                  SB 1690

    By Senator Peaden





    2-1236A-04

  1                      A bill to be entitled

  2         An act relating to trust funds; terminating the

  3         Florida Korean Veterans Memorial Matching Trust

  4         Fund, the Tobacco Settlement Trust Fund, and

  5         the Design and Construction Trust Fund within

  6         the Department of Veterans' Affairs; providing

  7         for the disposition of balances in and revenues

  8         of such trust funds; prescribing procedures for

  9         the termination of such trust funds; repealing

10         s. 292.085, F.S., relating to the Department of

11         Veterans' Affairs Tobacco Settlement Trust

12         Fund; providing an effective date.

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

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16         Section 1.  (1)  The following trust funds within the

17  Department of Veterans' Affairs are terminated:

18         (a)  The Florida Korean Veterans Memorial Matching

19  Trust Fund, FLAIR number 50-2-107. The current balance

20  remaining in, and all revenues of, the trust fund shall be

21  transferred to the Florida World War II Veterans Memorial

22  Matching Trust Fund, FLAIR number 50-2-755.

23         (b)  The Department of Veterans' Affairs Tobacco

24  Settlement Trust Fund, FLAIR number 50-2-122.

25         (c)  The Design and Construction Trust Fund, FLAIR

26  number 50-2-771. The current balance remaining in, and all

27  revenues of, the trust fund shall be transferred to the

28  Federal Grants Trust Fund, FLAIR number 50-2-261.

29         (2)  Unless otherwise provided, all current balances

30  remaining in, and all revenues of, each trust fund terminated

31  by this act shall be transferred to the General Revenue Fund.

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    Florida Senate - 2004                                  SB 1690
    2-1236A-04




 1         (3)  For each trust fund terminated by this act, the

 2  Department of Veterans' Affairs shall pay any outstanding

 3  debts and obligations of the terminated fund as soon as

 4  practicable, and the Chief Financial Officer shall close out

 5  and remove the terminated fund from the various state

 6  accounting systems using generally accepted accounting

 7  principles concerning warrants outstanding, assets, and

 8  liabilities.

 9         Section 2.  Section 292.085, Florida Statutes, is

10  repealed.

11         Section 3.  This act shall take effect July 1, 2004.

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14                          SENATE SUMMARY

15    Terminates the Florida Korean Veterans Memorial Matching
      Trust Fund, the Tobacco Settlement Trust Fund, and the
16    Design and Construction Trust Fund within the Department
      of Veterans' Affairs and provides for disposition of the
17    revenues remaining in those trust funds.

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