Florida Senate - 2018 PROPOSED COMMITTEE SUBSTITUTE Bill No. SB 1528 Ì449902,Î449902 576-03265-18 Proposed Committee Substitute by the Committee on Appropriations (Appropriations Subcommittee on Higher Education) 1 A bill to be entitled 2 An act relating to trust funds; creating s. 20.151, 3 F.S.; creating the Historically Black Colleges and 4 Universities Matching Endowment Scholarship Trust Fund 5 within the Department of Education; providing for the 6 purpose of the trust fund and source of funds; 7 providing for future review and termination or re 8 creation of the trust fund; providing a contingent 9 effective date. 10 11 Be It Enacted by the Legislature of the State of Florida: 12 13 Section 1. Section 20.151, Florida Statutes, is created to 14 read: 15 20.151 Historically Black Colleges and Universities 16 Matching Endowment Scholarship Trust Fund.— 17 (1) The Historically Black Colleges and Universities 18 Matching Endowment Scholarship Trust Fund is created within the 19 Department of Education. 20 (2) The trust fund is established for use as a depository 21 for funds to be used for purposes of the Historically Black 22 Colleges and Universities Matching Endowment Scholarship Program 23 established under s. 1009.894. 24 (3) Moneys to be credited to the trust fund shall consist 25 of an appropriation from the Legislature and matching funds from 26 participating historically black colleges and universities in 27 the state. 28 (4) In accordance with s. 19(f)(2), Art. III of the State 29 Constitution, the trust fund shall, unless terminated sooner, be 30 terminated on July 1, 2022. Before its scheduled termination, 31 the trust fund shall be reviewed as provided in s. 215.3206(1) 32 and (2). 33 Section 2. This act shall take effect on the same date that 34 SB 1526 or similar legislation takes effect if such legislation 35 is enacted in the same legislative session or an extension 36 thereof and becomes law, and only if this act is enacted by a 37 three-fifths vote of the membership of each house of the 38 Legislature.