Florida Senate - 2022                                    SB 1866
       
       
        
       By Senator Gibson
       
       
       
       
       
       6-01498-22                                            20221866__
    1                        A bill to be entitled                      
    2         An act relating to trust funds; creating s. 1010.88,
    3         F.S.; creating the Historically Black Colleges and
    4         Universities Matching Endowment Scholarship Trust Fund
    5         within the Department of Education; providing the
    6         purpose of the trust fund and its funding sources;
    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 1010.88, Florida Statutes, is created to
   14  read:
   15         1010.88 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. 1009.896.
   24         (3) Moneys to be credited to the trust fund must consist of
   25  an appropriation from the Legislature and matching funds from
   26  participating historically black colleges and universities in
   27  this 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, 2026. 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 ___ or similar legislation takes effect if such legislation
   35  is enacted in the same legislative session or an extension
   36  thereof and becomes a law, and only if this act is enacted by a
   37  three-fifths vote of the membership of each house of the
   38  Legislature.