Senate Bill sb1308

    Florida Senate - 2007                                  SB 1308

    By Senator Fasano





    11-1843A-07

  1                      A bill to be entitled

  2         An act relating to trust funds; redesignating

  3         the Cooperative Agreement Trust Fund within the

  4         Department of Military Affairs; amending s.

  5         250.175, F.S., relating to trust funds within

  6         the department; conforming provisions to

  7         changes made by the act; terminating a

  8         specified trust fund within the Department of

  9         Transportation; providing for disposition of

10         balances in the trust fund; prescribing

11         procedures for the termination of the 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.  The Cooperative Agreement Trust Fund within

17  the Department of Military Affairs, FLAIR number 62-2-039, is

18  renamed to be the Federal Grants Trust Fund.

19         Section 2.  Subsection (4) of section 250.175, Florida

20  Statutes, is amended to read:

21         250.175  Trust funds; authorization; name; purpose.--

22         (4)(a)  The Federal Grants Cooperative Agreement Trust

23  Fund is created within the Department of Military Affairs. The

24  department shall deposit into the trust fund federal funds

25  received by the department under cooperative agreements

26  between the federal and state governments, which shall be used

27  to perform the functions and tasks specified in the

28  agreements. The department shall also deposit into the trust

29  fund other funds received by the department.

30         (b)  Notwithstanding s. 216.301 and pursuant to s.

31  216.351, any balance in the trust fund at the end of any

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






    Florida Senate - 2007                                  SB 1308
    11-1843A-07




 1  fiscal year shall remain in the trust fund and is available

 2  for carrying out the purposes of the trust fund.

 3         Section 3.  (1)  The Jefferson County Project

 4  Construction Trust Fund, FLAIR number 55-2-418, within the

 5  Department of Transportation, is terminated. All current

 6  balances remaining in the trust fund on the date of

 7  termination shall be transferred to the State Transportation

 8  Trust Fund within the Department of Transportation.

 9         (2)  The Department of Transportation shall pay any

10  outstanding debts and obligations of the terminated funds as

11  soon as practicable, and the Chief Financial Officer shall

12  close out and remove the terminated funds from various state

13  accounting systems using generally accepted accounting

14  principles concerning warrants outstanding, assets, and

15  liabilities.

16         Section 4.  This act shall take effect July 1, 2007.

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19                          SENATE SUMMARY

20    Renames the Cooperative Agreement Trust Fund within the
      Department of Military Affairs. Terminates the Jefferson
21    County Project Construction Trust Fund within the
      Department of Transportation and transfers the remaining
22    balance to the State Transportation Trust Fund.

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