Florida Senate - 2010 CS for SB 2794 By the Committee on General Government Appropriations; and Senator Ring 601-04217-10 20102794c1 1 A bill to be entitled 2 An act relating to trust funds; creating the 3 Administrative Trust Fund within the Executive Office 4 of the Governor; providing for the purpose of the 5 trust fund and sources of funds; providing for future 6 review and termination or re-creation of the trust 7 fund; providing a contingent effective date. 8 9 Be It Enacted by the Legislature of the State of Florida: 10 11 Section 1. Administrative Trust Fund.— 12 (1) The Administrative Trust Fund is created within the 13 Executive Office of the Governor. 14 (2) The trust fund is established for use as a depository 15 for funds to be used for management activities that are 16 department-wide in nature and funded by indirect cost earnings 17 or assessments against trust funds. Moneys to be credited to the 18 trust fund include indirect cost reimbursements from grantors, 19 administrative assessments against trust funds, interest 20 earnings, and other appropriate administrative fees. 21 (3) In accordance with s. 19(f)(2), Article III of the 22 State Constitution, the Administrative Trust Fund shall, unless 23 terminated sooner, be terminated on July 1, 2014. Before its 24 scheduled termination, the trust fund shall be reviewed as 25 provided in s. 215.3206(1) and (2), Florida Statutes. 26 Section 2. This act shall take effect on the same date that 27 SB 1238 or similar legislation takes effect, if such legislation 28 is enacted in the same legislative session, or an extension 29 thereof, and becomes law, but this act shall not take effect 30 unless it is enacted by a three-fifths vote of the membership of 31 each house of the Legislature.