Bill Text: FL H7047 | 2011 | Regular Session | Introduced

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Bill Title: Federal Grants Trust Fund/DFS

Spectrum: Bipartisan Bill

Status: (Introduced - Dead) 2011-04-06 - Substituted SB 1038 [H7047 Detail]

Download: Florida-2011-H7047-Introduced.html

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HB 7047

1	A bill to be entitled
2	An act relating to trust funds; creating s. 17.67, F.S.;
3	creating the Federal Grants Trust Fund within the
4	Department of Financial Services; providing for the
5	purpose of the trust fund and sources of funds; providing
6	for future review and termination or re-creation of the
7	trust fund; providing an effective date.
8
9	Be It Enacted by the Legislature of the State of Florida:
10
11	Section 1.  Section 17.67, Florida Statutes, is created to
12	read:
13	17.67  Federal Grants Trust Fund.-
14	(1)  The Federal Grants Trust Fund is created within the
15	Department of Financial Services.
16	(2)  The trust fund is established for use as a depository
17	for funds to be used for allowable grant activities funded by
18	restricted program revenues from federal sources. Moneys to be
19	credited to the trust fund shall consist of grants and funding
20	from the Federal Government, interest earnings, and cash
21	advances from other trust funds. Funds shall be expended only
22	pursuant to legislative appropriation or an approved amendment
23	to the department's operating budget pursuant to the provisions
24	of chapter 216.
25	(3)  In accordance with s. 19(f)(2), Article III of the
26	State Constitution, the Federal Grants Trust Fund shall, unless
27	terminated sooner, be terminated on July 1, 2015. Before its
28	scheduled termination, the trust fund shall be reviewed as
29	provided in s. 215.3206(1) and (2).
30	Section 2.  This act shall take effect July 1, 2011, except
31	that this act shall not take effect unless it is enacted by a
32	three-fifths vote of the membership of each house of the
33	Legislature.

CODING: Words stricken are deletions; words underlined are additions.