| 1 | A bill to be entitled |
| 2 | An act relating to trust funds; creating s. 1001.281, |
| 3 | F.S.; creating the Operating Trust Fund within the |
| 4 | Department of Education; providing for sources of funds |
| 5 | and purposes; providing for annual carryforward of funds; |
| 6 | providing for future review and termination or re-creation |
| 7 | of the trust fund; providing an effective date. |
| 8 |
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| 9 | Be It Enacted by the Legislature of the State of Florida: |
| 10 |
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| 11 | Section 1. Section 1001.281, Florida Statutes, is created |
| 12 | to read: |
| 13 | 1001.281 Operating Trust Fund.-- |
| 14 | (1) The Operating Trust Fund, FLAIR number 48-2-510, is |
| 15 | created within the Department of Education. |
| 16 | (2) The trust fund is established for use as a depository |
| 17 | for funds to be used for program operations funded by program |
| 18 | revenues. Moneys to be credited to the trust fund include, but |
| 19 | are not limited to, revenues received from the leasing of |
| 20 | available transponder time for the state's satellite transponder |
| 21 | resources. |
| 22 | (3) Notwithstanding the provisions of s. 216.301 and |
| 23 | pursuant to s. 216.351, any balance in the trust fund at the end |
| 24 | of any fiscal year shall remain in the trust fund at the end of |
| 25 | the year and shall be available for carrying out the purposes of |
| 26 | the trust fund. |
| 27 | (4) In accordance with s. 19(f)(2), Art. III of the State |
| 28 | Constitution, the Operating Trust Fund shall, unless terminated |
| 29 | sooner, be terminated on July 1, 2012. Before its scheduled |
| 30 | termination, the trust fund shall be reviewed as provided in s. |
| 31 | 215.3206(1) and (2). |
| 32 | Section 2. This act shall take effect July 1, 2008. |