SB 686 — Termination of Trust Funds within 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)
The bill terminates four inactive and obsolete trust funds within the Department of Economic Opportunity (DEO): the Community Services Block Grant Trust Fund; the Energy Consumption Trust Fund; the Low-Income Home Energy Assistance Program Block Grant Trust Fund; and the Economic Development Transportation Trust Fund.
Section 215.3208, F.S., requires legislative review of each trust fund at least once every four years. The review schedule is included in the legislative budget instructions developed in accordance with s. 216.023, F.S. This review indicated four trust funds within the DEO are inactive and obsolete.
The Community Services Block Grant Trust Fund, the Energy Consumption Trust Fund, and the Low-Income Home Energy Assistance Program Block Grant Trust Fund were originally created in the former Department of Community Affairs (DCA) to administer various federal programs. When these programs were transferred from the DCA to the DEO in October 2011, the revenues that were previously deposited in these funds were deposited in the Federal Grants Trust Fund. Section 215.32(2)(b)2.g., F.S., requires agencies to use the federal grants trust fund as the depository for restricted revenues from federal sources. The trust funds being terminated have no fund balances and no future receipts are anticipated.
The Economic Development Transportation Trust Fund within the DEO was originally created in the former Office of Tourism, Trade, and Economic Development (OTTED) in the Executive Office of the Governor, to account for transfers from the Florida Department of Transportation (FDOT) to fund economic development transportation projects. This fund was transferred from the OTTED to the DEO in October 2011. In Fiscal Year 2012-2013, the administration of “road fund” projects was transferred from the DEO to the FDOT. The trust fund has no fund balance and no future receipts are anticipated.
The bill has no fiscal impact on state or local funds.
If approved by the Governor, these provisions take effect July 1, 2014.
Vote: Senate 40-0; House 117-0