| 1 | A bill to be entitled |
| 2 | An act relating to trust funds; creating the Education |
| 3 | Trust Fund within the Department of Education; providing |
| 4 | for sources of funds and purposes; providing for annual |
| 5 | carryforward of funds; providing for future review and |
| 6 | termination or re-creation of the trust fund; providing a |
| 7 | contingent 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. Education Trust Fund.-- |
| 12 | (1) The Education Trust Fund is created within the |
| 13 | Department of Education. |
| 14 | (2) The fund is established for use as a depository for |
| 15 | funds to be used for K-12 public educational delivery systems in |
| 16 | this state. Moneys to be credited to the trust fund include, but |
| 17 | are not limited to, those moneys that are in the General Revenue |
| 18 | Fund to fund such systems and that are transferred to the |
| 19 | Education Trust Fund for the purpose of funding educational |
| 20 | delivery systems. |
| 21 | (3) Notwithstanding s. 216.301, Florida Statutes, and |
| 22 | pursuant to s. 216.351, Florida Statutes, any balance in the |
| 23 | trust fund at the end of a fiscal year shall remain in the trust |
| 24 | fund at the end of the year and shall be available for carrying |
| 25 | out the purpose of the trust fund. |
| 26 | (4) In accordance with s. 19(f)(2), Art. III of the State |
| 27 | Constitution, the Education Trust Fund shall, unless terminated |
| 28 | sooner, be terminated on July 1, 2012. Before its scheduled |
| 29 | termination, the trust fund shall be reviewed as provided in s. |
| 30 | 215.3206(1) and (2), Florida Statutes. |
| 31 | Section 2. This act shall take effect July 1, 2008, if |
| 32 | House Bill 1369, or similar legislation, is adopted in the same |
| 33 | legislative session or an extension thereof and becomes law. |