Senate Bill sb1430c1

    Florida Senate - 2007                           CS for SB 1430

    By the Committee on Transportation and Economic Development
    Appropriations; and Senator Fasano




    606-1891A-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 Highway Safety and Motor Vehicles; providing

  5         for sources of funds and purposes; providing

  6         for future review and termination or

  7         re-creation of the trust fund; providing an

  8         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.  (1)  The Federal Grants Trust Fund is

13  created within the Department of Highway Safety and Motor

14  Vehicles.

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

16  depository for funds to be used for allowable grant activities

17  funded by restricted program revenues from federal sources.

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

19  grants and funding from the Federal Government, interest

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

21  shall be expended only pursuant to legislative appropriation

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

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

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

25  of the State Constitution, the Federal Grants Trust Fund

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

27  2012. Before its scheduled termination, the trust fund shall

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

29  Statutes.

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

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






    Florida Senate - 2007                           CS for SB 1430
    606-1891A-07




 1          STATEMENT OF SUBSTANTIAL CHANGES CONTAINED IN
                       COMMITTEE SUBSTITUTE FOR
 2                         Senate Bill 1430

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 4  The committee substitute creates the Federal Grants Trust Fund
    within the Department of Highway Safety and Motor Vehicles.
 5  The Federal Grants Trust Fund is established as a depository
    for allowable grant activities funded by restricted program
 6  revenues from federal sources.

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