The Florida Senate

122.35  Funding.--

(1)  Commencing July 1, 1967, for all state agencies and commencing October 1, 1967, for all other agencies with employees who are members under this chapter, former ss. 122.17 and 122.30(4) shall be of no further force and effect and each officer or board paying salaries to members and withholding contributions required of members under this chapter for purposes of providing retirement benefits and social security benefits to or on behalf of such members, shall budget, set aside and pay over to account B of the intangible tax trust fund, herein created, matching payments in the following specified amounts:

(a)1.  An amount equal to the amount of member contributions paid to the State and County Officers and Employees' Retirement Trust Fund as specified in ss. 122.03 and 122.27 but excluding any additional contributions required of high hazard members under s. 122.34; and

2.  Commencing January 1, 1993, an additional amount equal to 3.99 percent of each installment of salary to members; and

(b)  An amount equal to the amount of member contributions paid to the Social Security Contribution Trust Fund as specified in s. 122.27

(2)  The monthly payments required by subsection (1) shall be payable within 10 days after the first day of each calendar month after July 1, 1967, for all state agencies and October 1, 1967, for all other agencies. The state funds required to be paid hereunder shall be provided and paid from the sources as set forth in subsections (3) and (4).

(3)  The appropriations provided each state agency each fiscal year shall include sufficient amounts to pay the matching contributions for social security and retirement as required by this section and the matching contributions for retirement required of state agencies under s. 238.11(1)(a). No state agency, whether its funds are provided by state appropriation or not, shall employ any person or maintain any person on its payroll unless it has allotted for such person sufficient funds to meet these required payments.

(4)  Effective October 1, 1967, the proceeds of the intangible tax collections of the state remaining after the payment of administrative expenses, commissions which are applicable, and other costs incident to its collection shall be set aside into an account designated as account B of the Intangible Tax Trust Fund, which account shall also receive all of the matching payments for retirement and social security remitted by each officer or board as provided in subsection (1). The amounts received and deposited into account B of the Intangible Tax Trust Fund are appropriated and shall be used for the following purposes and paid out on the priority basis as shown below:

(a)  First, from the funds accumulated in account B there shall be transferred:

1.  To the Social Security Contribution Trust Fund, an amount equal to the social security contributions remitted by each officer or board to said fund as specified in s. 122.27

2.  To the State and County Officers and Employees' Retirement Fund, an amount equal to the retirement contributions withheld from the salaries of members and remitted by each officer or board to said fund as required by ss. 122.03 and 122.27, but excluding any additional contributions required of high hazard members under s. 122.34; provided, however, that during the 1967-1969 biennium the amount transferred to said account shall not exceed the total amount received in account B from the various state and county agencies for retirement matching purposes.

(b)  After the retirement and social security contributions of all members have been matched as provided in paragraph (a), the balance remaining in account B of the Intangible Tax Trust Fund shall be distributed as follows:

1.  Each county shall receive each fiscal year ending June 30 an allocation in an amount equal to 55 percent of the total net intangible taxes collected and remitted to the Department of Revenue by the tax collector of the county during the prior fiscal year.

a.  Commencing October 1, 1967, and every October 1 thereafter and continuing on the first day of each subsequent month through June 30 of each fiscal year each board of county commissions of the several counties of the state shall receive an allocation from account B of the Intangible Tax Trust Fund. This allocation shall not include the school boards of the several counties of the state. The amount of said monthly allocation shall be equal to the average amount required to be matched by the Intangible Tax Trust Fund for the corresponding months during the 1966-1967 fiscal year as computed by the Chief Financial Officer, or one-twelfth of the Chief Financial Officer's estimate of the county's allocation, whichever is smaller, and an adjustment to reconcile the monthly allocations with the actual amount to be received pursuant to this subparagraph, shall be made not later than 60 days after the end of the fiscal year.

b.  Each county, county agency and school board shall pay all matching cost for retirement and social security as required by this act and s. 238.11(1), notwithstanding the provisions of any other law.

2.  The balance remaining in account B of the Intangible Tax Trust Fund after the retirement and social security contributions have been matched and the allocations to each county have been paid as provided in this act, shall be paid over to the General Revenue Fund of the state.

(c)  The amounts allocated to the several counties from account B of the Intangible Tax Trust Fund shall be paid by the Department of Revenue to the respective boards of county commissioners who shall deposit same in the general fund of the county, and may expend them for any lawful county purpose. These amounts may be used to assist any county officer or agency within the county including school boards to make the matching payments for retirement and social security as required by law. Provided, however, should the income of any constitutional fee officer in any year be insufficient to make the matching payments required by this act, the boards of county commissioners shall provide such fee officer sufficient funds from the allocation received under this law to make these required payments.

(d)  Should any officer or board other than a state officer or board fail to make the retirement and social security contributions required herein, the Department of Revenue shall deduct the amount owed by the officer or board from the allocation accruing to the credit of the county affected, or the Department of Revenue shall deduct the amount owed from any other funds to be distributed by him or her to the officer or board using the procedure he or she shall deem most appropriate. The amounts so deducted shall remain in or be transferred to account B of the Intangible Tax Trust Fund for further distribution in accordance with this subsection.

(e)  Should any officer or board other than a state officer or board, for whom the tax collector collects taxes, fail to make the retirement and social security contributions required by this act, the tax collector, at the request of the Department of Revenue and upon receipt of a certificate from him or her showing the amount owed account B by the officer or board, shall deduct the amount so certified from any taxes collected for the officer or board and remit the amount to the Department of Revenue for deposit in account B of the Intangible Tax Trust Fund.

(f)  The boards of county commissioners of each county and the Department of Revenue, acting individually or jointly, are hereby authorized to file and maintain action in the courts of this state against any county agency to require it to remit any retirement or social security matching payments due account B of the Intangible Tax Trust Fund under the provisions of this law.

History.--s. 8, ch. 63-555; s. 1, ch. 67-411; ss. 2, 3, ch. 67-371; ss. 21, 31, 35, ch. 69-106; s. 1, ch. 69-300; s. 8, ch. 69-353; s. 40, ch. 77-104; s. 2, ch. 92-139; s. 8, ch. 93-262; s. 795, ch. 95-147; s. 144, ch. 2003-261.