| 1 | A bill to be entitled |
| 2 | An act relating to trust funds; creating s. 14.235, F.S.; |
| 3 | creating the Federal Grants Trust Fund within the |
| 4 | Executive Office of the Governor; providing for sources of |
| 5 | funds and purposes; providing for annual carryforward of |
| 6 | trust fund balances; providing for future review and |
| 7 | termination or re-creation of the trust fund; providing a |
| 8 | contingent effective date. |
| 9 |
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| 10 | Be It Enacted by the Legislature of the State of Florida: |
| 11 |
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| 12 | Section 1. Section 14.235, Florida Statutes, is created to |
| 13 | read: |
| 14 | 14.235 Federal Grants Trust Fund; Executive Office of the |
| 15 | Governor.- |
| 16 | (1) The Federal Grants Trust Fund is created within the |
| 17 | Executive Office of the Governor. |
| 18 | (2) The trust fund is established for use as a depository |
| 19 | for funds to be used for allowable grant activities funded by |
| 20 | restricted program revenues from federal sources. Moneys to be |
| 21 | credited to the trust fund shall consist of grants and funding |
| 22 | from the Federal Government, interest earnings, and cash |
| 23 | advances from other trust funds. Funds shall be expended only |
| 24 | pursuant to legislative appropriation or an approved amendment |
| 25 | to the department's operating budget pursuant to the provisions |
| 26 | of chapter 216. |
| 27 | (3) Notwithstanding s. 216.301 and pursuant to s. 216.351, |
| 28 | any balance in the trust fund at the end of any fiscal year |
| 29 | shall remain in the trust fund at the end of the year and shall |
| 30 | be available for carrying out the purposes of the trust fund. |
| 31 | (4) In accordance with s. 19(f)(2), Art. III of the State |
| 32 | Constitution, the trust fund shall, unless terminated sooner, be |
| 33 | terminated on July 1, 2015. Before its scheduled termination, |
| 34 | the trust fund shall be reviewed as provided in s. 215.3206(1) |
| 35 | and (2). |
| 36 | Section 2. This act shall take effect July 1, 2011, if |
| 37 | House Bill 7247 or similar legislation is adopted in the same |
| 38 | legislative session or an extension thereof and becomes law. |