Senate Bill sb1334

    Florida Senate - 2007                                  SB 1334

    By Senator Wise





    5-1824-07

  1                      A bill to be entitled

  2         An act relating to trust funds; creating s.

  3         1001.282, F.S.; creating the Administrative

  4         Trust Fund within the Department of Education;

  5         providing for sources of funds and purposes;

  6         providing for annual carryforward of funds;

  7         providing for future review and termination or

  8         re-creation of the trust fund; providing an

  9         effective date.

10  

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

12  

13         Section 1.  Section 1001.282, Florida Statutes, is

14  created to read:

15         1001.282  Administrative Trust Fund.--

16         (1)  The Administrative Trust Fund, FLAIR number

17  48-2-021, is created within the Department of Education.

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

19  for funds to be used for management activities that are

20  department-wide in nature and funded by indirect cost earnings

21  or assessments against trust funds. Moneys to be credited to

22  the trust fund include indirect cost reimbursements from

23  grantors, administrative assessments against trust funds,

24  interest earnings, and other appropriate administrative fees.

25         (3)  Notwithstanding s. 216.301 and pursuant to s.

26  216.351, any balance in the trust fund at the end of any

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

28  year and shall be available for carrying out the purpose of

29  the trust fund.

30         (4)  In accordance with s. 19(f)(2), Art. III of the

31  State Constitution, the Administrative Trust Fund shall,

                                  1

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






    Florida Senate - 2007                                  SB 1334
    5-1824-07




 1  unless terminated sooner, be terminated on July 1, 2012.

 2  Before its scheduled termination, the trust fund shall be

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

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

 5  

 6            *****************************************

 7                          SENATE SUMMARY

 8    Creates the Administrative Trust Fund within the
      Department of Education for the purpose of funding
 9    management activities that are department-wide in nature.

10  

11  

12  

13  

14  

15  

16  

17  

18  

19  

20  

21  

22  

23  

24  

25  

26  

27  

28  

29  

30  

31  

                                  2

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