| 1 | Representative Kyle offered the following: |
| 2 |
|
| 3 | Amendment (with title amendment) |
| 4 | Remove everything after the enacting clause and insert: |
| 5 | Section 1. Subsection (3) of section 17.61, Florida |
| 6 | Statutes, is reenacted to read: |
| 7 | 17.61 Chief Financial Officer; powers and duties in the |
| 8 | investment of certain funds.-- |
| 9 | (3)(a) Except as otherwise provided in this subsection, it |
| 10 | is the duty of each state agency, and of the judicial branch, |
| 11 | now or hereafter charged with the administration of the funds |
| 12 | referred to in subsection (1) to make such moneys available for |
| 13 | investment as fully as is consistent with the cash requirements |
| 14 | of the particular fund and to authorize investment of such |
| 15 | moneys by the Chief Financial Officer. |
| 16 | (b) Monthly, and more often as circumstances require, such |
| 17 | agency or judicial branch shall notify the Chief Financial |
| 18 | Officer of the amount available for investment; and the moneys |
| 19 | shall be invested by the Chief Financial Officer. Such |
| 20 | notification shall include the name and number of the fund for |
| 21 | which the investments are to be made and the life of the |
| 22 | investment if the principal sum is to be required for meeting |
| 23 | obligations. This subsection, however, shall not be construed to |
| 24 | make available for investment any funds other than those |
| 25 | referred to in subsection (1). |
| 26 | (c) Except as provided in this paragraph and except for |
| 27 | moneys described in paragraph (d), the following agencies shall |
| 28 | not invest trust fund moneys as provided in this section, but |
| 29 | shall retain such moneys in their respective trust funds for |
| 30 | investment, with interest appropriated to the General Revenue |
| 31 | Fund, pursuant to s. 17.57: |
| 32 | 1. The Agency for Health Care Administration, except for |
| 33 | the Tobacco Settlement Trust Fund. |
| 34 | 2. The Department of Children and Family Services, except |
| 35 | for: |
| 36 | a. The Alcohol, Drug Abuse, and Mental Health Trust Fund. |
| 37 | b. The Community Resources Development Trust Fund. |
| 38 | c. The Refugee Assistance Trust Fund. |
| 39 | d. The Social Services Block Grant Trust Fund. |
| 40 | e. The Tobacco Settlement Trust Fund. |
| 41 | f. The Working Capital Trust Fund. |
| 42 | 3. The Department of Community Affairs, only for the |
| 43 | Operating Trust Fund. |
| 44 | 4. The Department of Corrections. |
| 45 | 5. The Department of Elderly Affairs, except for: |
| 46 | a. The Federal Grants Trust Fund. |
| 47 | b. The Tobacco Settlement Trust Fund. |
| 48 | 6. The Department of Health, except for: |
| 49 | a. The Federal Grants Trust Fund. |
| 50 | b. The Grants and Donations Trust Fund. |
| 51 | c. The Maternal and Child Health Block Grant Trust Fund. |
| 52 | d. The Tobacco Settlement Trust Fund. |
| 53 | 7. The Department of Highway Safety and Motor Vehicles, |
| 54 | only for: |
| 55 | a. The DUI Programs Coordination Trust Fund. |
| 56 | b. The Security Deposits Trust Fund. |
| 57 | 8. The Department of Juvenile Justice. |
| 58 | 9. The Department of Law Enforcement. |
| 59 | 10. The Department of Legal Affairs. |
| 60 | 11. The Department of State, only for: |
| 61 | a. The Grants and Donations Trust Fund. |
| 62 | b. The Records Management Trust Fund. |
| 63 | 12. The Executive Office of the Governor, only for: |
| 64 | a. The Economic Development Transportation Trust Fund. |
| 65 | b. The Economic Development Trust Fund. |
| 66 | 13. The Florida Public Service Commission, only for the |
| 67 | Florida Public Service Regulatory Trust Fund. |
| 68 | 14. The Justice Administrative Commission. |
| 69 | 15. The state courts system. |
| 70 | (d) Moneys in any trust funds of the agencies in paragraph |
| 71 | (c) may be invested pursuant to the provisions of this section |
| 72 | if: |
| 73 | 1. Investment of such moneys and the retention of interest |
| 74 | is required by federal programs or mandates; |
| 75 | 2. Investment of such moneys and the retention of interest |
| 76 | is required by bond covenants, indentures, or resolutions; |
| 77 | 3. Such moneys are held by the state in a trustee capacity |
| 78 | as an agent or fiduciary for individuals, private organizations, |
| 79 | or other governmental units; or |
| 80 | 4. The Executive Office of the Governor determines, after |
| 81 | consultation with the Legislature pursuant to the procedures of |
| 82 | s. 216.177, that federal matching funds or contributions or |
| 83 | private grants to any trust fund would be lost to the state. |
| 84 | Section 2. Subsection (4) of section 445.0325, Florida |
| 85 | Statutes, is reenacted to read: |
| 86 | 445.0325 Welfare Transition Trust Fund.-- |
| 87 | (4) All funds transferred to and retained in the trust |
| 88 | fund shall be invested pursuant to s. 17.61. Any interest |
| 89 | accruing to the trust fund shall be for the benefit of the |
| 90 | welfare transition program. Notwithstanding s. 216.301 and |
| 91 | pursuant to s. 216.351, any undisbursed balance remaining in the |
| 92 | trust fund and interest accruing to the trust fund not |
| 93 | distributed at the end of the fiscal year shall remain in the |
| 94 | trust fund and shall increase the total funds available to |
| 95 | implement the welfare transition program. |
| 96 | Section 3. Subsection (1) of section 1011.94, Florida |
| 97 | Statutes, is reenacted to read: |
| 98 | 1011.94 Trust Fund for University Major Gifts.-- |
| 99 | (1) There is established a Trust Fund for University Major |
| 100 | Gifts. The purpose of the trust fund is to enable each |
| 101 | university and New College to provide donors with an incentive |
| 102 | in the form of matching grants for donations for the |
| 103 | establishment of permanent endowments and sales tax exemption |
| 104 | matching funds received pursuant to s. 212.08(5)(j), which must |
| 105 | be invested, with the proceeds of the investment used to support |
| 106 | libraries and instruction and research programs, as defined by |
| 107 | the State Board of Education. All funds appropriated for the |
| 108 | challenge grants, new donors, major gifts, sales tax exemption |
| 109 | matching funds pursuant to s. 212.08(5)(j), or eminent scholars |
| 110 | program must be deposited into the trust fund and invested |
| 111 | pursuant to s. 17.61 until the State Board of Education |
| 112 | allocates the funds to universities to match private donations. |
| 113 | Notwithstanding s. 216.301 and pursuant to s. 216.351, any |
| 114 | undisbursed balance remaining in the trust fund and interest |
| 115 | income accruing to the portion of the trust fund which is not |
| 116 | matched and distributed to universities must remain in the trust |
| 117 | fund and be used to increase the total funds available for |
| 118 | challenge grants. Funds deposited in the trust fund for the |
| 119 | sales tax exemption matching program authorized in s. |
| 120 | 212.08(5)(j), and interest earnings thereon, shall be maintained |
| 121 | in a separate account within the Trust Fund for University Major |
| 122 | Gifts, and may be used only to match qualified sales tax |
| 123 | exemptions that a certified business designates for use by state |
| 124 | universities and community colleges to support research and |
| 125 | development projects requested by the certified business. The |
| 126 | State Board of Education may authorize any university to |
| 127 | encumber the state matching portion of a challenge grant from |
| 128 | funds available under s. 1011.45. |
| 129 | Section 4. Subsection (3) of section 1013.79, Florida |
| 130 | Statutes, is reenacted to read: |
| 131 | 1013.79 University Facility Enhancement Challenge Grant |
| 132 | Program.-- |
| 133 | (3) There is established the Alec P. Courtelis Capital |
| 134 | Facilities Matching Trust Fund for the purpose of providing |
| 135 | matching funds from private contributions for the development of |
| 136 | high priority instructional and research-related capital |
| 137 | facilities, including common areas connecting such facilities, |
| 138 | within a university. The Legislature shall appropriate funds to |
| 139 | be transferred to the trust fund. The Public Education Capital |
| 140 | Outlay and Debt Service Trust Fund, Capital Improvement Trust |
| 141 | Fund, Division of Sponsored Research Trust Fund, and Contracts |
| 142 | and Grants Trust Fund shall not be used as the source of the |
| 143 | state match for private contributions. All appropriated funds |
| 144 | deposited into the trust fund shall be invested pursuant to the |
| 145 | provisions of s. 17.61. Interest income accruing to that portion |
| 146 | of the trust fund shall increase the total funds available for |
| 147 | the challenge grant program. Interest income accruing from the |
| 148 | private donations shall be returned to the participating |
| 149 | foundation upon completion of the project. The State Board of |
| 150 | Education shall administer the trust fund and all related |
| 151 | construction activities. |
| 152 | Section 5. This act shall take effect July 1, 2005. |
| 153 |
|
| 154 |
|
| 155 | ================= T I T L E A M E N D M E N T ================= |
| 156 | Remove the entire title and insert: |
| 157 | A bill to be entitled |
| 158 | An act relating to the investment of state trust funds; |
| 159 | reenacting s. 17.61(3), F.S.; relating to the Chief |
| 160 | Financial Officer, powers and duties in the investment of |
| 161 | certain funds; reenacting ss. 445.0325(4), 1011.94(1), and |
| 162 | 1013.79(3), F.S., relating to the Welfare Transition Trust |
| 163 | Fund, Trust Fund for University Major Gifts, and |
| 164 | University Facility Enhancement Challenge Grant Program; |
| 165 | providing an effective date. |