Florida Senate - 2011 (PROPOSED COMMITTEE BILL) SPB 7208 FOR CONSIDERATION By the Committee on Budget 576-03076-11 20117208__ 1 A bill to be entitled 2 An act relating to trust funds; creating the Welfare 3 Transition Trust Fund within the Department of 4 Education; providing for sources of funds and 5 purposes; providing for the annual carryforward of 6 funds; providing for future review and termination or 7 re-creation of the trust fund; providing an effective 8 date. 9 10 Be It Enacted by the Legislature of the State of Florida: 11 12 Section 1. Welfare Transition Trust Fund.— 13 (1) The Welfare Transition Trust Fund is created within the 14 Department of Education. 15 (2) The trust fund is established for use as a depository 16 for receiving federal funds under the Temporary Assistance for 17 Needy Families Program. Trust fund moneys shall be used 18 exclusively for the purpose of providing services to individuals 19 eligible for Temporary Assistance for Needy Families pursuant to 20 the requirements and limitations of part A of Title IV of the 21 Social Security Act, as amended, or any other applicable federal 22 requirement or limitation. Funds credited to the trust fund 23 consist of those funds collected from the Temporary Assistance 24 for Needy Families Block Grant. 25 (3) All funds transferred to and retained in the trust fund 26 shall be invested pursuant to s. 17.61, Florida Statutes. 27 Notwithstanding s. 216.301, Florida Statutes, and pursuant to s. 28 216.351, Florida Statutes, any undisbursed balance remaining in 29 the trust fund and interest accruing to the trust fund not 30 distributed at the end of the fiscal year shall remain in the 31 trust fund and shall increase the total funds available for 32 appropriation from the trust fund. 33 (4) In accordance with s. 19(f)(2), Article III of the 34 State Constitution, the Welfare Transition Trust Fund shall, 35 unless terminated sooner, be terminated on July 1, 2015. Before 36 its scheduled termination, the trust fund shall be reviewed as 37 provided in s. 215.3206(1) and (2), Florida Statutes. 38 Section 2. This act shall take effect July 1, 2011, except 39 that this act shall not take effect unless it is enacted by a 40 three-fifths vote of the membership of each house of the 41 Legislature.