Florida Senate - 2008 SENATOR AMENDMENT

Bill No. HB 5043

464080

CHAMBER ACTION

Senate

Floor: 1/AD/2R

4/16/2008 12:11 PM

.

.

.

.

.

House



1

Senator Alexander moved the following amendment:

2

3

     Senate Amendment (with title amendment)

4

     Delete everything after the enacting clause

5

and insert:

6

     Section 1.  Section 17.0315, Florida Statutes, is created to

7

read:

8

     17.0315 Financial and cash management system; task force.--

9

     (1) The Chief Financial Officer shall be the head of and

10

appoint members to a task force that shall include the executive

11

director of the Agency for Enterprise Information Technology and

12

the director of the Office of Policy and Budget in the Executive

13

Office of the Governor. The task force is established to develop

14

a successor financial and cash management system that:

15

     (a) Promotes transparency in the accounting of public

16

funds;

17

     (b) Provides timely and accurate transactional processes by

18

agencies and their professional staffs;

19

     (c) Interfaces with other systems providing human

20

resources, procurement of goods and services, and other

21

enterprise functions;

22

     (d) Interfaces with the existing legislative

23

appropriations, planning, and budgeting systems;

24

     (e) Permits proper disbursement and auditing controls

25

consistent with the respective constitutional duties of the Chief

26

Financial Officer and the Legislature;

27

     (f) Supports executive reporting and data analysis

28

requirements; and

29

     (g) Follows the information technology strategy developed

30

by the Agency for Enterprise Information Technology.

31

     (2) Members appointed to the task force, or their designee,

32

shall consult with state agency administrative services

33

directors, finance and accounting offices, and budget directors

34

of all branches of Florida government. The task force shall

35

submit to the Governor, the President of the Senate, and the

36

Speaker of the House of Representatives a report that:

37

     (a) Identifies problems and opportunities posed by current

38

law and the current administration with existing state accounting

39

systems;

40

     (b) Provides developmental solutions to known failures

41

identified by external review and audit reports;

42

     (c) Recommends business processes and requirements to

43

support a standardized statewide accounting system;

44

     (d) Identifies revised rulemaking procedures needed to

45

ensure the operational and security integrity of any successor

46

system;

47

     (e) Evaluates different funding approaches to equitably

48

distribute common accounting infrastructure costs across all

49

participating users; and

50

     (f) Provides an executable, enterprise-wide work product

51

that can be used as the basis for a revised competitive

52

procurement for the implementation of a successor system.

53

54

The Chief Financial Officer shall submit the initial report,

55

along with draft legislation recommended to implement a

56

standardized statewide financial and cash management system, by

57

January 1, 2009.

58

     Section 2.  Paragraph (a) of subsection (3) of section

59

20.121, Florida Statutes, is amended to read:

60

     20.121  Department of Financial Services.--There is created

61

a Department of Financial Services.

62

     (3)  FINANCIAL SERVICES COMMISSION.--Effective January 7,

63

2003, there is created within the Department of Financial

64

Services the Financial Services Commission, composed of the

65

Governor, the Attorney General, the Chief Financial Officer, and

66

the Commissioner of Agriculture, which shall for purposes of this

67

section be referred to as the commission. Commission members

68

shall serve as agency head of the Financial Services Commission.

69

The commission shall be a separate budget entity and shall be

70

exempt from the provisions of s. 20.052. Commission action shall

71

be by majority vote consisting of at least three affirmative

72

votes. The commission shall not be subject to control,

73

supervision, or direction by the Department of Financial Services

74

in any manner, including purchasing, transactions involving real

75

or personal property, personnel, or budgetary matters.

76

     (a)  Structure.--The major structural unit of the commission

77

is the office. Each office shall be headed by a director. The

78

following offices are established:

79

     1.  The Office of Insurance Regulation, which shall be

80

responsible for all activities concerning insurers and other risk

81

bearing entities, including licensing, rates, policy forms,

82

market conduct, claims, issuance of certificates of authority,

83

solvency, viatical settlements, premium financing, and

84

administrative supervision, as provided under the insurance code

85

or chapter 636. The head of the Office of Insurance Regulation is

86

the Director of the Office of Insurance Regulation, who may also

87

be known as the Commissioner of Insurance Regulation.

88

     2.a. The Office of Financial Regulation, which shall be

89

responsible for all activities of the Financial Services

90

Commission relating to the regulation of banks, credit unions,

91

other financial institutions, finance companies, and the

92

securities industry. The head of the office is the Director of

93

the Office of Financial Regulation, who may also be known as the

94

Commissioner of Financial Regulation. The Office of Financial

95

Regulation shall include a Bureau of Financial Investigations,

96

which shall function as a criminal justice agency for purposes of

97

ss. 943.045-943.08 and shall have a separate budget. The bureau

98

may conduct investigations within or outside this state as the

99

bureau deems necessary to aid in the enforcement of this section.

100

If, during an investigation, the office has reason to believe

101

that any criminal law of this state has or may have been

102

violated, the office shall refer any records tending to show such

103

violation to state or federal law enforcement or prosecutorial

104

agencies and shall provide investigative assistance to those

105

agencies as required.

106

     b. The Strategic Markets Research and Assessment Unit is

107

established within the Office of Financial Regulation. The unit

108

shall report on September 1, 2008, and quarterly thereafter, to

109

the Financial Services Commission, the President of the Senate,

110

and the Speaker of the House of Representatives on the status of

111

Florida's financial services markets. At a minimum, the report

112

must include a summary of key national and international economic

113

issues, trends, and threats that broadly impact the condition of

114

the financial services industries, along with the effect of such

115

conditions on financial institutions, the securities industries,

116

other financial entities, the credit market, and the economic

117

status of the residents and businesses of Florida. In order to

118

ensure adequate protection for the economic well-being of the

119

residents and businesses of Florida, the unit shall also submit

120

to the commission, the President of the Senate, and the Speaker

121

of the House of Representatives its findings and recommendations

122

regarding regulatory and policy changes.

123

     Section 3.  Section 517.315, Florida Statutes, is amended to

124

read:

125

     517.315  Fees.--All fees of any nature collected by the

126

office pursuant to this chapter shall be disbursed as follows:

127

     (1)  The office shall transfer the amount of fees required

128

to be deposited into the Securities Guaranty Fund pursuant to s.

129

517.131;

130

     (2)  After the transfer required in subsection (1), the

131

office shall transfer $20 of the $50 assessment fee collected

132

from each associated person under s. 517.12(10) and (11) and

133

30.44 percent of the $100 assessment fee paid by dealers and

134

investment advisors for each office in the state under s.

135

517.12(10) and (11) to the Regulatory Trust Fund; and

136

     (3)  All remaining fees shall be deposited into the General

137

Revenue Fund.

138

     Section 4.  Subsection (5) of section 626.932, Florida

139

Statutes, is amended to read:

140

     626.932  Surplus lines tax.--

141

     (5) The department shall deposit 19.02 24.3 percent of all

142

taxes collected under this section to the credit of the Insurance

143

Regulatory Trust Fund. Eighty and ninety-eight hundredths

144

Seventy-five and seven-tenths percent of all taxes collected

145

under this section shall be deposited into the General Revenue

146

Fund.

147

     Section 5.  Subsection (7) of section 626.938, Florida

148

Statutes, is amended to read:

149

     626.938  Report and tax of independently procured

150

coverages.--

151

     (7) The department shall deposit 19.02 24.3 percent of all

152

taxes and interest collected under this section to the credit of

153

the Insurance Regulatory Trust Fund. Eighty and ninety-eight

154

hundredths Seventy-five and seven-tenths percent of all taxes and

155

interest collected under this section shall be deposited into the

156

General Revenue Fund.

157

     Section 6.  This act shall take effect July 1, 2008.

158

159

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

160

And the title is amended as follows:

161

     Delete everything before the enacting clause

162

and insert:

163

A bill to be entitled

164

An act relating to financial services; creating s.

165

17.0315, F.S.; establishing a task force to develop a

166

successor financial and cash management system; requiring

167

the Chief Financial Officer to appoint members to and head

168

such task force; requiring that the directors of the

169

Agency for Enterprise Information Technology and the

170

Office of Policy and Budget in the Executive Office of the

171

Governor participate as members of the task force;

172

providing a purpose; requiring members to consult with the

173

administrative services directors, finance and accounting

174

offices, and budget directors of all branches of state

175

government; requiring the task force to submit a report

176

and draft legislation to the Governor and the Legislature

177

by a certain date; requiring that certain information be

178

included in such report; amending s. 20.121, F.S.;

179

establishing the Strategic Markets Research and Assessment

180

Unit within the Office of Financial Regulation; requiring

181

that the unit periodically report to the Financial

182

Services Commission and the Legislature; specifying the

183

information be included in such report; amending s.

184

517.315, F.S.; requiring the Office of Financial

185

Regulation of the Financial Services Commission to

186

transfer the entire registration assessment fee paid by

187

associated persons and a certain percentage of the

188

assessment fee paid by dealers and investment advisors to

189

the Regulatory Trust Fund; amending ss. 626.932 and

190

626.938, F.S.; revising the required percentages of funds

191

collected pursuant to certain taxes on surplus lines

192

premiums and related interest that must be deposited into

193

the Insurance Regulatory Trust Fund and the General

194

Revenue Fund; providing an effective date.

4/10/2008  9:09:00 AM     17-07250-08

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