Senate Bill sb2342

    Florida Senate - 2006                                  SB 2342

    By Senator Crist





    12-1765-06

  1                      A bill to be entitled

  2         An act relating to trust funds; creating s.

  3         945.21503, F.S.; creating the Federal Grants

  4         Trust Fund within the Department of

  5         Corrections; providing for sources of funds and

  6         purposes; providing for future review and

  7         termination or re-creation of the trust fund;

  8         providing an effective date.

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

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12         Section 1.  Section 945.21503, Florida Statutes, is

13  created to read:

14         945.21503  Federal Grants Trust Fund.--

15         (1)  The Federal Grants Trust Fund is created within

16  the Department of Corrections.

17         (2)  The fund is established for use as a depository

18  for funds to be used for allowable grant activities funded by

19  restricted program revenues. Moneys to be credited to the

20  trust fund shall consist of grants and funding from the

21  Federal Government, interest earnings, and cash advances from

22  other trust funds.

23         (3)  In accordance with s. 19(f)(2), Art. III of the

24  State Constitution, the Federal Grants Trust Fund shall,

25  unless terminated sooner, be terminated on July 1, 2010.

26  Before its scheduled termination, the trust fund shall be

27  reviewed as provided in s. 215.3206(1) and (2).

28         Section 2.  This act shall take effect July 1, 2006.

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    Florida Senate - 2006                                  SB 2342
    12-1765-06




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 2                          SENATE SUMMARY

 3    Creates the Federal Grants Trust Fund within the
      Department of Corrections. Provides for sources of funds
 4    and purposes. Provides for future review and termination
      or re-creation of the trust fund.
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CODING: Words stricken are deletions; words underlined are additions.