Senate Bill sb1314

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    Florida Senate - 2007                                  SB 1314

    By Senator Crist





    12-1835-07

  1                      A bill to be entitled

  2         An act relating to trust funds; creating the

  3         Federal Grants Trust Fund within the Department

  4         of Legal Affairs; providing for sources of

  5         funds and purposes; providing for future review

  6         and termination or re-creation of the trust

  7         fund; providing an effective date.

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

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11         Section 1.  (1)  The Federal Grants Trust Fund is

12  created within the Department of Legal Affairs.

13         (2)  The trust fund is established for use as a

14  depository for funds to be used for allowable grant activities

15  funded by restricted program revenues from federal sources.

16  Moneys to be credited to the trust fund shall consist of

17  grants and funding from the Federal Government, interest

18  earnings, and cash advances from other trust funds. Funds

19  shall be expended only pursuant to legislative appropriation

20  or an approved amendment to the department's operating budget

21  pursuant to the provisions of chapter 216, Florida Statutes.

22         (3)  In accordance with Section 19(f)(2), Article III

23  of the State Constitution, the Federal Grants Trust Fund

24  shall, unless terminated sooner, be terminated on July 1,

25  2012. Before its scheduled termination, the trust fund shall

26  be reviewed as provided in s. 215.3206(1) and (2), Florida

27  Statutes.

28         Section 2.  This act shall take effect July 1, 2008.

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    Florida Senate - 2007                                  SB 1314
    12-1835-07




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 2                          SENATE SUMMARY

 3    Creates the Federal Grants Trust Fund within the
      Department of Legal Affairs. Provides for future review
 4    and termination or re-creation of the trust fund.

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