Florida Senate - 2010                                    SB 2790
       
       
       
       By Senator Negron
       
       
       
       
       28-02960-10                                           20102790__
    1                        A bill to be entitled                      
    2         An act relating to trust funds; creating the Grants
    3         and Donations Trust Fund within the Department of
    4         Financial Services; providing for the purpose of the
    5         trust fund and sources of funds; providing for future
    6         review and termination or re-creation of the trust
    7         fund; providing an effective date.
    8  
    9  Be It Enacted by the Legislature of the State of Florida:
   10  
   11         Section 1. Grants and Donations Trust Fund.—
   12         (1) The Grants and Donations Trust Fund is created within
   13  the Department of Financial Services.
   14         (2) The trust fund is established for use as a depository
   15  for funds to be used for allowable grant and donor agreement
   16  activities funded by restricted contractual revenue. Moneys to
   17  be credited to the trust fund shall consist of grants and
   18  donations from private and public nonfederal sources, interest
   19  earnings, and cash advances from other trust funds.
   20         (3) In accordance with s. 19(f)(2), Article III of the
   21  State Constitution, the Grants and Donations Trust Fund shall,
   22  unless terminated sooner, be terminated on July 1, 2014. Before
   23  its scheduled termination, the trust fund shall be reviewed as
   24  provided in s. 215.3206(1) and (2), Florida Statutes.
   25         Section 2. This act shall take effect on the same date that
   26  SB 8 or similar legislation takes effect, if such legislation is
   27  enacted in the same legislative session, or an extension
   28  thereof, and becomes law, but this act shall not take effect
   29  unless it is enacted by a three-fifths vote of the membership of
   30  each house of the Legislature.