| 1 | A bill to be entitled |
| 2 | An act relating to trust funds; creating the Federal |
| 3 | Grants Trust Fund within the Department of Community |
| 4 | Affairs; providing for sources of funds and purposes; |
| 5 | providing for future review and termination or re-creation |
| 6 | of the trust fund; providing a contingent effective date. |
| 7 |
|
| 8 | Be It Enacted by the Legislature of the State of Florida: |
| 9 |
|
| 10 | Section 1. Federal Grants Trust Fund.- |
| 11 | (1) The Federal Grants Trust Fund is created within the |
| 12 | Department of Community Affairs. |
| 13 | (2) The trust fund is established for use as a depository |
| 14 | for funds to be used for allowable grant activities funded by |
| 15 | restricted program revenues from federal sources. Moneys to be |
| 16 | credited to the trust fund shall consist of grants and funding |
| 17 | from the Federal Government, interest earnings, and cash |
| 18 | advances from other trust funds. Funds shall be expended only |
| 19 | pursuant to legislative appropriation or an approved amendment |
| 20 | to the department's operating budget pursuant to the provisions |
| 21 | of chapter 216, Florida Statutes. |
| 22 | (3) In accordance with s. 19(f)(2), Article III of the |
| 23 | State Constitution, the Federal Grants Trust Fund shall, unless |
| 24 | terminated sooner, be terminated on July 1, 2014. Before its |
| 25 | scheduled termination, the trust fund shall be reviewed as |
| 26 | provided in s. 215.3206(1) and (2), Florida Statutes. |
| 27 | Section 2. This act shall take effect July 1, 2010, but it |
| 28 | shall not take effect unless it is enacted by a three-fifths |
| 29 | vote of the membership of each house of the Legislature. |