| 1 | A bill to be entitled |
| 2 | An act relating to trust funds; terminating the Ringling |
| 3 | Investment Trust Fund within the Department of Management |
| 4 | Services; providing for the disposition of balances in and |
| 5 | revenues of the trust fund; prescribing procedures for |
| 6 | terminating the trust fund; providing an effective date. |
| 7 |
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| 8 | Be It Enacted by the Legislature of the State of Florida: |
| 9 |
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| 10 | Section 1. (1) The Ringling Investment Trust Fund within |
| 11 | the Department of Management Services, FLAIR number 72-2-412, is |
| 12 | terminated. |
| 13 | (2) All current balances remaining in, and all revenues |
| 14 | of, the trust fund shall be transferred to the General Revenue |
| 15 | Fund. |
| 16 | (3) The Department of Management Services shall pay any |
| 17 | outstanding debts and obligations of the terminated fund as soon |
| 18 | as practicable, and the Chief Financial Officer shall close out |
| 19 | and remove the terminated fund from the various state accounting |
| 20 | systems using generally accepted accounting principles |
| 21 | concerning warrants outstanding, assets, and liabilities. |
| 22 | Section 2. This act shall take effect July 1, 2010. |