Senate Bill sb1434

    Florida Senate - 2007                                  SB 1434

    By Senator Fasano





    11-1841-07

  1                      A bill to be entitled

  2         An act relating to trust funds; creating the

  3         Grants and Donations Trust Fund within the

  4         Department of Transportation; providing for

  5         sources of funds and purposes; providing for

  6         future review and termination or re-creation of

  7         the trust fund; providing an effective date.

  8  

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

10  

11         Section 1.  (1)  The Grants and Donations Trust Fund is

12  created within the Department of Transportation.

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

14  for funds to be used for allowable grant and donor agreement

15  activities funded by restricted contractual revenue. Moneys to

16  be credited to the trust fund shall consist of grants and

17  donations from private and public nonfederal sources, interest

18  earnings, and cash advances from other trust funds.

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

20  of the State Constitution, the Grants and Donations Trust Fund

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

22  2012. Before its scheduled termination, the trust fund shall

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

24  Statutes.

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

26  

27            *****************************************

28                          SENATE SUMMARY

29    Creates the Grants and Donations Trust Fund within the
      Department of Transportation. Provides for future review
30    and termination or re-creation of the trust fund.

31  

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