Senate Bill sb0332c1

    Florida Senate - 2005                            CS for SB 332

    By the Committee on Environmental Preservation; and Senator
    Dockery




    592-1991-05

  1                      A bill to be entitled

  2         An act relating to trust funds; creating s.

  3         403.891, F.S.; creating the Water Protection

  4         and Sustainability Trust Fund within the

  5         Department of Environmental Protection;

  6         providing for sources of funds and purposes;

  7         providing for an annual carryforward of funds;

  8         providing for future legislative review and

  9         termination or re-creation of the trust fund;

10         providing a contingent effective date.

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

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14         Section 1.  Section 403.891, Florida Statutes, is

15  created to read:

16         403.891  Water Protection and Sustainability Program

17  Trust Fund of the Department of Environmental Protection.--

18         (1)  The Water Protection and Sustainability Program

19  Trust Fund is created within the Department of Environmental

20  Protection. The purpose of the trust fund is to receive funds

21  pursuant to s. 201.15(1)(e) in order to pay debt service on

22  bonds issued under s. 215.6197.

23         (2)  Notwithstanding s. 216.301 and pursuant to s.

24  216.351, any balance in the trust fund at the end of any

25  fiscal year shall remain in the trust fund at the end of the

26  year and shall be available for carrying out the purposes of

27  the trust fund.

28         (3)  Pursuant to s. 19(f)(2), Art. III of the State

29  Constitution, the trust fund shall, unless terminated sooner,

30  be terminated on July 1, 2009. Prior to its scheduled

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






    Florida Senate - 2005                            CS for SB 332
    592-1991-05




 1  termination, the trust fund shall be reviewed as provided in

 2  s. 215.3206(1) and (2).

 3         Section 2.  This act shall take effect July 1, 2005, if

 4  Senate Bill 444 or similar legislation is adopted in the same

 5  legislative session or an extension thereof and becomes law.

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 7          STATEMENT OF SUBSTANTIAL CHANGES CONTAINED IN
                       COMMITTEE SUBSTITUTE FOR
 8                         Senate Bill 332

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10  The committee substitute creates the Water Protection and
    Sustainability Trust Fund for the purposes of receiving
11  proceeds from bonds issued to fund the Water Protection and
    Sustainability Program which is the subject of CS/SB 444.
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CODING: Words stricken are deletions; words underlined are additions.