Bill Text: FL S1162 | 2021 | Regular Session | Introduced

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Bill Title: Trust Funds/Triumph Gulf Coast Trust Fund

Spectrum: Partisan Bill (Republican 1-0)

Status: (Failed) 2021-04-30 - Died in Commerce and Tourism, companion bill(s) passed, see SB 7054 (Ch. 2021-4) [S1162 Detail]

Download: Florida-2021-S1162-Introduced.html

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       Florida Senate - 2021                                    SB 1162
       
       
        
       By Senator Broxson
       
       
       
       
       
       1-01422-21                                            20211162__
    1                        A bill to be entitled                      
    2         An act relating to trust funds; re-creating the
    3         Triumph Gulf Coast Trust Fund within the Department of
    4         Economic Opportunity without modification; amending s.
    5         288.80125, F.S.; removing provisions relating to the
    6         termination of the trust fund; providing an effective
    7         date.
    8  
    9         WHEREAS, the Legislature wishes to extend the life of the
   10  Triumph Gulf Coast Trust Fund within the Department of Economic
   11  Opportunity, which is otherwise scheduled to be terminated
   12  pursuant to constitutional mandate, and
   13         WHEREAS, the Legislature has reviewed the trust fund before
   14  its scheduled termination date and has found that it continues
   15  to meet an important public purpose, and
   16         WHEREAS, the Legislature has found that existing public
   17  policy concerning the trust fund sets adequate parameters for
   18  its use, NOW, THEREFORE,
   19  
   20  Be It Enacted by the Legislature of the State of Florida:
   21  
   22         Section 1. The Triumph Gulf Coast Trust Fund within the
   23  Department of Economic Opportunity, FLAIR number 40-2-043, which
   24  is to be terminated pursuant to Section 19(f), Article III of
   25  the State Constitution on July 1, 2021, is re-created.
   26         Section 2. Subsection (3) of section 288.80125, Florida
   27  Statutes, is amended to read:
   28         288.80125 Triumph Gulf Coast Trust Fund.—
   29         (3) In accordance with s. 19(f)(2), Art. III of the State
   30  Constitution, the Triumph Gulf Coast Trust Fund shall, unless
   31  terminated sooner, be terminated on July 1, 2021. Before its
   32  scheduled termination, the trust fund shall be reviewed as
   33  provided in s. 215.3206(1) and (2).
   34         Section 3. This act shall take effect July 1, 2021.