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.