The Florida Senate

290.034  Operating Trust Fund; priority of use.--

(1)  The Legislature shall annually provide funding in the General Appropriations Act for the Community Development Corporation Support and Assistance Program. The funds appropriated for the program shall be deposited in the State Treasury in a fund established and designated as the Operating Trust Fund, which shall be administered by the department. The appropriation for the program shall be apportioned by the Legislature between loans and administrative grants to community development corporations. All funds deposited in the trust fund and not needed for immediate disbursement shall be invested pursuant to s. 18.125 and the interest earned shall be deposited in the trust fund. The administrative costs of the program shall be annually set in the General Appropriations Act and shall be funded from the trust fund.

(2)  The department shall give priority for loans and administrative grants to those community development corporations the service areas of which include an enterprise zone designated pursuant to s. 290.0065.

(3)  This section shall stand repealed on June 30, 1998.

History.--s. 5, ch. 80-250; s. 11, ch. 81-295; s. 2, ch. 84-240; s. 55, ch. 84-356; s. 18, ch. 87-331; s. 10, ch. 91-262; s. 29, ch. 93-120; s. 38, ch. 94-136.

Note.--Former s. 288.605.