| 1 | A bill to be entitled |
| 2 | An act relating to trust funds; terminating specified |
| 3 | trust funds within the Department of Financial Services; |
| 4 | providing for the disposition of balances in and revenues |
| 5 | of such trust funds; prescribing procedures for the |
| 6 | termination of such trust funds; providing an effective |
| 7 | date. |
| 8 |
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| 9 | Be It Enacted by the Legislature of the State of Florida: |
| 10 |
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| 11 | Section 1. (1) The following trust funds within the |
| 12 | Department of Financial Services are terminated: |
| 13 | (a) The State Treasury Escrow Trust Fund, FLAIR number 43- |
| 14 | 2-622; and |
| 15 | (b) The Employee Refund Clearing Trust Fund, FLAIR number |
| 16 | 43-2-194. |
| 17 | (2) All current balances remaining in, and all revenues |
| 18 | of, the trust funds terminated by this act shall, on the date of |
| 19 | termination, be transferred to the Treasury Cash Deposit Trust |
| 20 | Fund. |
| 21 | (3) The Department of Financial Services shall pay any |
| 22 | outstanding debts and obligations of the terminated funds as |
| 23 | soon as practicable, and the Chief Financial Officer shall close |
| 24 | out and remove the terminated funds from various state |
| 25 | accounting systems using generally accepted accounting |
| 26 | principles concerning warrants outstanding, assets, and |
| 27 | liabilities. |
| 28 | Section 2. This act shall take effect July 1, 2011. |