Bill Text: FL S7032 | 2011 | Regular Session | Introduced

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Bill Title: Trust Funds/Department of Financial Services

Spectrum: Committee Bill

Status: (N/A - Dead) 2011-02-11 - Submit as committee bill by Budget Subcommittee on General Government Appropriations (SB 1030) [S7032 Detail]

Download: Florida-2011-S7032-Introduced.html

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       Florida Senate - 2011         (PROPOSED COMMITTEE BILL) SPB 7032
       
       
       
       FOR CONSIDERATION By the Committee on Budget Subcommittee on
       General Government Appropriations
       
       
       
       601-00504B-11                                         20117032__
    1                        A bill to be entitled                      
    2         An act relating to trust funds; terminating specified
    3         trust funds within the Department of Financial
    4         Services; providing for the disposition of balances in
    5         and revenues of such trust funds; prescribing
    6         procedures for the termination of such trust funds;
    7         providing an effective 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 of,
   18  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.