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A bill to be entitled

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An act relating to trust funds; creating the Education

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Trust Fund within the Department of Education; providing

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for sources of funds and purposes; providing for annual

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carryforward of funds; providing for future review and

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termination or re-creation of the trust fund; providing a

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contingent effective date.

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

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     Section 1. Education Trust Fund.--

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     (1) The Education Trust Fund is created within the

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Department of Education.

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

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funds to be used for K-12 public educational delivery systems in

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this state. Moneys to be credited to the trust fund include those

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moneys that are in the General Revenue Fund to fund such systems

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and that are transferred to the Education Trust Fund for the

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purpose of funding educational delivery systems.

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     (3) Notwithstanding s. 216.301, Florida Statutes, and

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pursuant to s. 216.351, Florida Statutes, any balance in the

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trust fund at the end of a fiscal year shall remain in the trust

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fund at the end of the year and be available for carrying out the

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purpose of the trust fund.

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     (4) In accordance with Section 19(f)(2), Article III of the

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State Constitution, the Education Trust Fund shall, unless

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terminated sooner, be terminated on July 1, 2012. Before 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), Florida Statutes.

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

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Senate Bill ___, or similar legislation, is adopted in the same

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legislative session or an extension thereof and becomes law.