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SB 206 — Federal Grants Trust Fund/Department of State

by Senator Gardiner

This summary is provided for information only and does not represent the opinion of any Senator, Senate Officer, or Senate Office.

Prepared by: Appropriations Committee (AP)

SB 206 (Chapter 2013-6, L.O.F.) re-creates, without modification, the Federal Grants Trust Fund within the Department of State.

The Federal Grants Trust Fund, which was created July 1, 2010 by Chapter 2010-17, L.O.F., is scheduled to be terminated on July 1, 2014. Pursuant to s. 215.32(2)(b)2.g., F.S., a federal grants trust fund is a depository for funds that must be used for allowable activities funded by restricted program revenues from federal sources, including interest earnings and cash advances from other trust funds. 

These provisions were approved by the Governor and take effect July 1, 2013.

Vote: Senate 39-0; House 116-0