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SB 1042 — Federal Grants Trust Fund/Highway Safety and Motor Vehicles

by Budget Subcommittee on Transportation, Tourism, and Economic Development Appropriations

This summary is provided for information only and does not represent the opinion of any Senator, Senate Officer, or Senate Office.

Prepared by: Budget Subcommittee on Transportation, Tourism, and Economic Development Appropriations Committee (BTA)

The bill (Chapter 2011-31, L.O.F.) re-creates the Federal Grants Trust Fund, FLAIR number 76-2-261, within the Department of Highway Safety and Motor Vehicles.  This trust fund serves as a repository of grants and funding from the Federal Government, interest earnings, and cash advances from other trust funds.  Re-creation is effective beginning July 1, 2011 prior to the scheduled termination date of July 1, 2012.

These provisions were approved by the Governor and take effect July 1, 2011.
Vote:  Senate 40-0; House 116-0