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Senator Saunders moved the following amendment:

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     Senate Amendment (with title amendment)

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     Delete everything after the enacting clause

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and insert:

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     Section 1.  Subsection (1) of section 215.619, Florida

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Statutes, is amended to read:

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     215.619  Bonds for Everglades restoration.--

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     (1)  The issuance of Everglades restoration bonds to finance

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or refinance the cost of acquisition and improvement of land,

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water areas, and related property interests and resources for the

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purpose of implementing the Comprehensive Everglades Restoration

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Plan under s. 373.470, the Lake Okeechobee Watershed Protection

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Plan under s. 373.4595, the Caloosahatchee River Watershed

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Protection Plan under s. 373.4595, and the St. Lucie River

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Watershed Protection Plan under s. 373.4595, and the Florida Keys

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Area of Critical State Concern protection program under ss.

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380.05 and 380.0552 to restore and conserve natural systems

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through the implementation of water management projects,

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including wastewater management projects identified in the "Keys

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Wastewater Plan" dated November 2007 and submitted to the Florida

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House of Representatives on December 4, 2007, is authorized in

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accordance with s. 11(e), Art. VII of the State Constitution.

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Everglades restoration bonds, except refunding bonds, may be

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issued only in fiscal years 2002-2003 through 2019-2020 2009-2010

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and may not be issued in an amount exceeding $100 million per

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fiscal year unless:

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     (a) The Department of Environmental Protection has

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requested additional amounts in order to achieve cost savings or

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accelerate the purchase of land; or

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     (b) The Legislature authorizes an additional amount of

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bonds not to exceed $50 million per fiscal year, for no more than

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4 fiscal years, specifically for the purpose of funding the

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Florida Keys Area of Critical State Concern protection program.

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The duration of Everglades restoration bonds may not exceed 20

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annual maturities, and those bonds must mature by December 31,

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2040 2030. Except for refunding bonds, a series of bonds may not

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be issued unless an amount equal to the debt service coming due

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in the year of issuance has been appropriated by the Legislature.

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Beginning July 1, 2010, the Legislature shall analyze the ratio

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of the state's debt to projected revenues prior to the

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authorization to issue any bonds under this section.

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     Section 2.  Subsections (2), (4), and (6) of section

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373.470, Florida Statutes, are amended to read:

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     373.470  Everglades restoration.--

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     (2)  DEFINITIONS.--As used in this section, the term:

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     (a)  "Caloosahatchee River Watershed Protection Plan" means

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the plan developed pursuant to s. 373.4595.

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     (b)  "Comprehensive plan" means the recommended

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comprehensive plan contained within the "Final Integrated

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Feasibility Report and Programmatic Environmental Impact

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Statement, April 1999" and submitted to Congress on July 1, 1999.

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     (c)  "Corps" means the United States Army Corps of

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Engineers.

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     (d)  "District" means the South Florida Water Management

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District.

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     (e) "Keys Wastewater Plan" means the plan prepared by the

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Monroe County Engineering Division dated November 2007 and

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submitted to the Florida House of Representatives on December 4,

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2007.

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     (f)(e) "Lake Okeechobee Watershed Protection Plan" means

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the plan developed pursuant to ss. 375.4595 and 373.451-373.459.

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     (g)(f) "Project" means the Central and Southern Florida

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Project authorized under the heading "CENTRAL AND SOUTHERN

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FLORIDA" in s. 203 of the Flood Control Act of 1948 (62 Stat.

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1176), and any modification to the project authorized by law.

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     (h)(g) "Project component" means any structural or

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operational change, resulting from the comprehensive plan, to the

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project as it existed and was operated as of January 1, 1999.

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     (i)(h) "Project implementation report" means the project

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implementation report as described in the "Final Integrated

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Feasibility Report and Programmatic Environmental Impact

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Statement, April 1999" and submitted to Congress on July 1, 1999.

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     (j)(i) "River Watershed Protection Plans" means the

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Caloosahatchee River Watershed Protection Plan and the St. Lucie

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River Watershed Protection Plan as defined in this subsection.

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     (k)(j) "St. Lucie River Watershed Protection Plan" means

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the plan developed pursuant to s. 373.4595.

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     (4)  SAVE OUR EVERGLADES TRUST FUND; FUNDS AUTHORIZED FOR

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DEPOSIT.--The following funds may be deposited into the Save Our

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Everglades Trust Fund created by s. 373.472 to finance

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implementation of the comprehensive plan, the Lake Okeechobee

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Watershed Protection Plan, and the River Watershed Protection

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Plans, and the Keys Wastewater Plan:

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     (a)  Funds described in subsection (5).

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     (b)  Federal funds appropriated by Congress for

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implementation of the comprehensive plan, the Lake Okeechobee

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Watershed Protection Plan, or the River Watershed Protection

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Plans.

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     (c)  Any additional funds appropriated by the Legislature

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for the purpose of implementing the comprehensive plan, the Lake

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Okeechobee Watershed Protection Plan, or the River Watershed

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Protection Plans, or the Keys Wastewater Plan.

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     (d)  Gifts designated for implementation of the

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comprehensive plan, the Lake Okeechobee Watershed Protection

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Plan, or the River Watershed Protection Plans, or the Keys

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Wastewater Plan from individuals, corporations, or other

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entities.

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     (e)  Funds made available pursuant to s. 201.15 for debt

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service for Everglades restoration bonds.

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     (6)  DISTRIBUTIONS FROM SAVE OUR EVERGLADES TRUST FUND.--

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     (a) Except as provided in paragraphs (d) and (e) and for

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funds appropriated for debt service, the department shall

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distribute funds in the Save Our Everglades Trust Fund to the

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district in accordance with a legislative appropriation and s.

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373.026(8)(b) and (c). Distribution of funds to the district from

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the Save Our Everglades Trust Fund shall be equally matched by

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the cumulative contributions from the district by fiscal year

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2019-2020 by providing funding or credits toward project

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components. The dollar value of in-kind project design and

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construction work by the district in furtherance of the

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comprehensive plan and existing interest in public lands needed

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for a project component are credits towards the district's

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contributions.

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     (b)  The department shall distribute funds in the Save Our

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Everglades Trust Fund to the district in accordance with a

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legislative appropriation for debt service for Everglades

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restoration bonds.

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     (c)  To the extent that funds are available, the department

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may reserve a minimum of $10 million annually from the Save Our

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Everglades Trust Fund for the purpose of implementation of the

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River Watershed Protection Plans within the Northern Everglades

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as identified in s. 373.4595. Distribution of funds from the Save

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Our Everglades Trust Fund for the implementation of the River

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Watershed Protection Plans shall be in accordance with paragraph

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(a) and shall be equally matched by the district and Lee and

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Martin Counties by fiscal year 2019-2020 by providing funding or

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credits toward project components. The dollar value of in-kind

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project design and construction work by the district or the

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counties in furtherance of the River Watershed Protection Plans

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and existing interest in public lands needed for a project

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component are credits towards the district's and counties'

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contributions.

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     (d)  Subject to a specific appropriation to the Department

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of Agriculture and Consumer Services for the purpose of

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implementing agricultural nonpoint source controls as identified

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in s. 373.4595 or the legislatively ratified Lake Okeechobee

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Watershed Protection Plan and the River Watershed Protection

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Plans, and upon written request by the Department of Agriculture

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and Consumer Services for the transfer, the department shall

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transfer an amount equal to such specific appropriation from the

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Save Our Everglades Trust Fund to the Department of Agriculture

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and Consumer Services General Inspection Trust Fund. All interest

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earned on the investment of funds transferred from the Save Our

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Everglades Trust Fund to the General Inspection Trust Fund shall

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be credited to the Save Our Everglades Trust Fund by June 30 of

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each year.

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     (e) Subject to specific appropriation, the department shall

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use moneys from the Save Our Everglades Trust Fund to fund

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projects identified in the Keys Wastewater Plan. The department

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may establish requirements, through grant agreements or other

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contractual arrangements, to ensure the timely construction of

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projects and expenditure of appropriated funds by the local

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governments in Monroe County, including, but not limited to,

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project implementation deadlines, local matching requirements,

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fair and competitive procurement requirements, and financial

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tracking requirements.

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     Section 3.  Subsections (1) and (4) of section 373.472,

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Florida Statutes, are amended to read:

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     373.472  Save Our Everglades Trust Fund.--

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     (1)  There is created within the Department of Environmental

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Protection the Save Our Everglades Trust Fund. Funds in the trust

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fund shall be expended to implement the comprehensive plan

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defined in s. 373.470(2)(b); 373.470(2)(a), the Lake Okeechobee

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Watershed Protection Plan defined in s. 373.4595(2);, the

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Caloosahatchee River Watershed Protection Plan defined in s.

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373.4595(2);, and the St. Lucie River Watershed Protection Plan

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defined in s. 373.4595(2); and the Florida Keys Area of Critical

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State Concern protection program under ss. 380.05 and 380.0552 to

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restore and conserve natural systems through the implementation

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of water management projects, including wastewater management

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projects identified in the "Keys Wastewater Plan" dated November

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2007 and submitted to the Florida House of Representatives on

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December 4, 2007;, and to pay debt service for Everglades

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restoration bonds issued pursuant to s. 215.619. The trust fund

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shall serve as the repository for state, local, and federal

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project contributions in accordance with s. 373.470(4).

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     (4) Pursuant to the provisions of s. 19(f)(2), Art. III of

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the State Constitution, the Save Our Everglades Trust Fund shall,

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unless terminated sooner, terminate on July 1, 2004. Prior to its

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scheduled termination, the trust fund shall be reviewed as

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provided in s. 215.3206(1) and (2).

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

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================ T I T L E  A M E N D M E N T ================

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And the title is amended as follows:

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     Delete everything before the enacting clause

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and insert:

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A bill to be entitled

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An act relating to Everglades restoration bonds; amending

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s. 215.619, F.S.; authorizing the issuance of additional

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Everglades restoration bonds to implement the Florida Keys

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Area of Critical State Concern protection program;

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extending the period during which Everglades Restoration

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bonds may be issued; authorizing the issuance of an

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additional amount of bonds for a specified time period

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specifically to fund the Florida Keys Area of Critical

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State Concern protection program; requiring the

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Legislature to analyze the ratio of the state's debt to  

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projected revenues before authorizing issuance of certain

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bonds; amending s. 373.470, F.S.; defining the term "Keys

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Wastewater Plan"; authorizing funds deposited into the

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Save Our Everglades Trust Fund to be used to implement the

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Keys Wastewater Plan; amending s. 373.472, F.S.;

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authorizing the Department of Environmental Protection,

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subject to specific appropriation, to use moneys from the

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Save Our Everglades Trust Fund to fund projects identified

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in the Keys Wastewater Plan; deleting an obsolete

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provision terminating the Save Our Everglades Trust Fund;

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providing an effective date.

4/28/2008  7:15:00 PM     EP.37.08917