The Florida Senate

¹185.105  Police and Firefighters' Premium Tax Trust Fund.--The Police and Firefighters' Premium Tax Trust Fund is created, to be administered by the Division of Retirement of the Department of Management Services. Funds credited to the trust fund, as provided in chapter 95-250, Laws of Florida, or similar legislation, shall be expended for the purposes set forth in that legislation.

History.--s. 1, ch. 95-249.

¹Note.--

A.  Also published at s. 175.1215.

B.  Section 2, ch. 95-249, provides that:

"(1)  Pursuant to Section 19(f)(2) of Article III of the State Constitution, the Police and Firefighters' Premium Tax Trust Fund shall, unless terminated sooner, terminate July 1, 1999.

"(2)  Before the 1999 regular legislative session, the Division of Retirement and the Governor shall recommend to the President of the Senate and the Speaker of the House of Representatives whether the trust fund should be terminated or should be re-created. These recommendations must be based on a review of the purpose and use of the trust fund and a determination of whether the trust fund continues to be necessary. A recommendation to re-create the trust fund may include suggested modifications to the purpose, sources of receipts, and allowable expenditures for the trust fund. The division's recommendation shall be made as a part of the department's legislative budget request to the Legislature pursuant to section 216.023, Florida Statutes. The Governor's recommendation shall be made as a part of his recommended budget presented to the Legislature pursuant to section 216.162, Florida Statutes.

"(3)  When the trust fund is terminated, the Division of Retirement shall pay any outstanding debts or obligations of the trust fund as soon as practicable and the Comptroller shall close out and remove the trust fund from the various state accounting systems, using generally accepted accounting practices concerning warrants outstanding, assets, and liabilities."