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CS/CS/SB 644 — Florida ABLE Program Trust Fund/State Board of Administration

by Appropriations Committee; Banking and Insurance Committee; and Senator Benacquisto

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

Prepared by: Banking and Insurance Committee (BI)

The bill creates the Florida ABLE Program Trust Fund (trust fund) within the State Board of Administration (SBA). The trust fund will hold appropriations and moneys acquired from private sources or other governmental sources for the Florida ABLE program. The trust fund will also hold ABLE account moneys.

This bill has no fiscal impact.

If approved by the Governor, these provisions take effect upon becoming law, contingent upon CS/SB 642 or similar legislation becoming law.

Vote: Senate 38-0; House 116-0