Florida Senate - 2013                                     SB 218
       By Senator Hays
       11-00550-13                                            2013218__
    1                        A bill to be entitled                      
    2         An act relating to trust funds; re-creating the
    3         Mortgage Guaranty Trust Fund within the Office of
    4         Financial Regulation without modification; repealing
    5         s. 494.00173(4), F.S.; abrogating provisions relating
    6         to the termination of the trust fund, to conform;
    7         providing an effective date.
    9         WHEREAS, the Legislature wishes to extend the life of the
   10  Mortgage Guaranty Trust Fund within the Office of Financial
   11  Regulation, which is otherwise scheduled to be terminated
   12  pursuant to constitutional mandate, and
   13         WHEREAS, the Legislature has reviewed the trust fund before
   14  its scheduled termination date and has found that it continues
   15  to meet an important public purpose, and
   16         WHEREAS, the Legislature has found that existing public
   17  policy concerning the trust fund sets adequate parameters for
   18  its use, NOW, THEREFORE,
   20  Be It Enacted by the Legislature of the State of Florida:
   22         Section 1. The Mortgage Guaranty Trust Fund within the
   23  Office of Financial Regulation, FLAIR number 43-2-487, which is
   24  to be terminated pursuant to Section 19(f), Article III of the
   25  State Constitution on July 1, 2014, is re-created.
   26         Section 2. Subsection (4) of section 494.00173, Florida
   27  Statutes, is repealed.
   28         Section 3. This act shall take effect July 1, 2013.