Florida Senate - 2015 SB 2518-A By Senator Lee 24-00016-15A 20152518A__ 1 A bill to be entitled 2 An act relating to trust funds; amending s. 20.1971, 3 F.S.; creating the Land Acquisition Trust Fund within 4 the Agency for Persons with Disabilities; providing 5 for the purpose of the trust fund and sources of 6 funds; requiring the agency to maintain the integrity 7 of such funds; providing for disposition of funds 8 available from reversions or reductions in budget 9 authority; requiring that title to lands or related 10 property interests acquired be vested in the Board of 11 Trustees of the Internal Improvement Trust Fund; 12 requiring the agency or its designee to manage the 13 lands or property interests acquired in accordance 14 with the purposes set forth in s. 28, Art. X of the 15 State Constitution; providing a restriction on how 16 funds may be invested; providing for future review and 17 termination or re-creation of the trust fund; 18 providing an effective date. 19 20 Be It Enacted by the Legislature of the State of Florida: 21 22 Section 1. Subsection (6) is added to section 20.1971, 23 Florida Statutes, to read: 24 20.1971 Agency for Persons with Disabilities; trust funds. 25 The following trust funds shall be administered by the Agency 26 for Persons with Disabilities: 27 (6) The Land Acquisition Trust Fund. 28 (a) Funds to be credited to the trust fund shall consist of 29 funds received from the Land Acquisition Trust Fund within the 30 Department of Environmental Protection. Funds shall be used for 31 the purposes set forth in s. 28, Art. X of the State 32 Constitution. 33 (b) The Agency for Persons with Disabilities must maintain 34 integrity of such moneys transferred from the Department of 35 Environmental Protection. Any transferred moneys available from 36 reversions or reductions in budget authority shall be 37 transferred back to the Land Acquisition Trust Fund within the 38 Department of Environmental Protection within 15 days after such 39 reversion or reduction and shall be available for future 40 appropriation for the purposes set forth in s. 28, Art. X of the 41 State Constitution. 42 (c) If expenditures from the trust fund will result in 43 state ownership of land or related property interests, title 44 shall be vested in the Board of Trustees of the Internal 45 Improvement Trust Fund as required under chapter 253. Such 46 acquisition of land or related property interests shall be by 47 voluntary, negotiated acquisition and, if title is to be vested 48 in the Board of Trustees of the Internal Improvement Trust Fund, 49 is subject to the acquisition procedures of s. 253.025. 50 Acquisition costs shall include purchase prices and costs and 51 fees associated with title work, surveys, and appraisals 52 required to complete the acquisition. The Agency for Persons 53 with Disabilities or its designee shall manage such lands or 54 related property interests in accordance with the purposes set 55 forth in s. 28, Art. X of the State Constitution. Other uses, 56 not contrary to such purposes, may be authorized. 57 (d) Moneys in the trust fund may not be invested as 58 provided in s. 17.61, but shall be retained in the trust fund 59 for investment with interest appropriated to the General Revenue 60 Fund as provided in s. 17.57. 61 (e) In accordance with s. 19(f)(2), Art. III of the State 62 Constitution the Land Acquisition Trust Fund within the Agency 63 for Persons with Disabilities shall, unless terminated sooner, 64 be terminated on July 1, 2019. Before its scheduled termination, 65 the trust fund shall be reviewed as provided under s. 215.3206. 66 Section 2. This act shall take effect July 1, 2015.