Bill Text: FL H7049 | 2011 | Regular Session | Introduced

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Bill Title: Trust Funds/Termination/DFS

Spectrum: Bipartisan Bill

Status: (Introduced - Dead) 2011-04-06 - Substituted SB 1030 [H7049 Detail]

Download: Florida-2011-H7049-Introduced.html

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HB 7049

1	A bill to be entitled
2	An act relating to trust funds; terminating specified
3	trust funds within the Department of Financial Services;
4	providing for the disposition of balances in and revenues
5	of such trust funds; prescribing procedures for the
6	termination of such trust funds; providing an effective
7	date.
8
9	Be It Enacted by the Legislature of the State of Florida:
10
11	Section 1.  (1)  The following trust funds within the
12	Department of Financial Services are terminated:
13	(a)  The State Treasury Escrow Trust Fund, FLAIR number 43-
14	2-622; and
15	(b)  The Employee Refund Clearing Trust Fund, FLAIR number
16	43-2-194.
17	(2)  All current balances remaining in, and all revenues
18	of, the trust funds terminated by this act shall, on the date of
19	termination, be transferred to the Treasury Cash Deposit Trust
20	Fund.
21	(3)  The Department of Financial Services shall pay any
22	outstanding debts and obligations of the terminated funds as
23	soon as practicable, and the Chief Financial Officer shall close
24	out and remove the terminated funds from various state
25	accounting systems using generally accepted accounting
26	principles concerning warrants outstanding, assets, and
27	liabilities.
28	Section 2.  This act shall take effect July 1, 2011.

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