SB 2154 First Engrossed 20112154e1 1 A bill to be entitled 2 An act relating to trust funds; creating s. 14.235, 3 F.S.; creating the Federal Grants Trust Fund within 4 the Executive Office of the Governor; providing for 5 sources of funds and purposes; providing for annual 6 carryforward of trust fund balances; providing for 7 future review and termination or re-creation of the 8 trust fund; providing an effective date. 9 10 Be It Enacted by the Legislature of the State of Florida: 11 12 Section 1. Section 14.235, Florida Statutes, is created to 13 read: 14 14.235 Federal Grants Trust Fund; Executive Office of the 15 Governor.— 16 (1) The Federal Grants Trust Fund is created within the 17 Executive Office of the Governor. 18 (2) The trust fund is established for use as a depository 19 for funds to be used for allowable grant activities funded by 20 restricted program revenues from federal sources. Moneys to be 21 credited to the trust fund shall consist of grants and funding 22 from the Federal Government, interest earnings, and cash 23 advances from other trust funds. Funds shall be expended only 24 pursuant to legislative appropriation or an approved amendment 25 to the office’s operating budget pursuant to the provisions of 26 chapter 216. 27 (3) Notwithstanding s. 216.301 and pursuant to s. 216.351, 28 any balance in the trust fund at the end of any fiscal year 29 shall remain in the trust fund at the end of the year and shall 30 be available for carrying out the purposes of the trust fund. 31 (4) In accordance with s. 19(f)(2), Art. III of the State 32 Constitution, the trust fund shall, unless terminated sooner, be 33 terminated on July 1, 2015. Before its scheduled termination, 34 the trust fund shall be reviewed as provided in s. 215.3206(1) 35 and (2). 36 Section 2. This act shall take effect July 1, 2011, except 37 that this act shall not take effect unless it is enacted by a 38 three-fifths vote of the membership of each house of the 39 Legislature.