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.