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SB 208 — Federal Grants Trust Fund/Department of Economic Opportunity

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 208 (Chapter 2013-7, L.O.F.) recreates, without modification, the Federal Grants Trust Fund within the Department of Economic Opportunity. The bill has no fiscal impact on state or local funds. 

The Federal Grants Trust Fund, which was created July 1, 2010, by Chapter 2010-21, L.O.F., was 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 on April 10, 2013 and take effect July 1, 2013.

Vote: Senate 40-0; House 116-0