| 1 | A bill to be entitled |
| 2 | An act relating to trust funds; creating the Federal |
| 3 | Grants Trust Fund within the Department of State; |
| 4 | providing for the purpose of the trust fund and sources of |
| 5 | funds; providing for future review and termination or re- |
| 6 | creation of the trust fund; providing a contingent |
| 7 | effective date. |
| 8 |
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| 9 | Be It Enacted by the Legislature of the State of Florida: |
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| 11 | Section 1. Federal Grants Trust Fund.- |
| 12 | (1) The Federal Grants Trust Fund is created within the |
| 13 | Department of State. |
| 14 | (2) The trust fund is established for use as a depository |
| 15 | for funds to be used for allowable grant activities funded by |
| 16 | restricted program revenues from federal sources. Moneys to be |
| 17 | credited to the trust fund shall consist of grants and funding |
| 18 | from the Federal Government, interest earnings, and cash |
| 19 | advances from other trust funds. Funds shall be expended only |
| 20 | pursuant to legislative appropriation or an approved amendment |
| 21 | to the department's operating budget pursuant to the provisions |
| 22 | of chapter 216, Florida Statutes. |
| 23 | (3) In accordance with s. 19(f)(2), Article III of the |
| 24 | State Constitution, the Federal Grants Trust Fund shall, unless |
| 25 | terminated sooner, be terminated on July 1, 2014. Before its |
| 26 | scheduled termination, the trust fund shall be reviewed as |
| 27 | provided in s. 215.3206(1) and (2), Florida Statutes. |
| 28 | Section 2. This act shall take effect July 1, 2010, but |
| 29 | this act shall not take effect unless it is enacted by a three- |
| 30 | fifths vote of the membership of each house of the Legislature. |