Bill Text: FL S7060 | 2019 | Regular Session | Enrolled

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Bill Title: Termination of the Working Capital Trust Fund within the Department of Highway Safety and Motor Vehicles

Spectrum: Committee Bill

Status: (Passed) 2019-04-29 - Chapter No. 2019-18 [S7060 Detail]

Download: Florida-2019-S7060-Enrolled.html

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       ENROLLED
       2019 Legislature                                         SB 7060
       
       
       
       
       
       
                                                             20197060er
    1  
    2         An act relating to the termination of the Working
    3         Capital Trust Fund within the Department of Highway
    4         Safety and Motor Vehicles; terminating the Working
    5         Capital Trust Fund within the Department of Highway
    6         Safety and Motor Vehicles; providing for the transfer
    7         of balances in and revenues of the trust fund;
    8         requiring that the department pay outstanding debts
    9         and obligations of the trust fund; requiring that the
   10         Chief Financial Officer close out and remove the
   11         terminated fund from the state accounting systems;
   12         repealing ch. 2002-151, Laws of Florida, which saved
   13         the trust fund from termination; providing an
   14         effective date.
   15          
   16  Be It Enacted by the Legislature of the State of Florida:
   17  
   18         Section 1. (1) The Working Capital Trust Fund within the
   19  Department of Highway Safety and Motor Vehicles, FLAIR number
   20  76-2-792, is terminated.
   21         (2) All current balances remaining in, and all revenues of,
   22  the trust fund must be transferred to the Highway Safety
   23  Operating Trust Fund.
   24         (3) The department shall pay any outstanding debts and
   25  obligations of the terminated fund as soon as practicable, and
   26  the Chief Financial Officer shall close out and remove the
   27  terminated fund from the various state accounting systems using
   28  generally accepted accounting principles concerning warrants
   29  outstanding, assets, and liabilities.
   30         Section 2. Chapter 2002-151, Laws of Florida, is repealed.
   31         Section 3. This act shall take effect July 1, 2019.