The Florida Senate

240.40  State Student Financial Assistance Trust Fund.--

(1)  The State Student Financial Assistance Trust Fund is hereby created, to be administered by the Department of Education. Funds shall be credited to the trust fund as provided in the General Appropriations Act or similar legislation, to be used for the purposes set forth therein.

(2)  ¹The department may transfer into this trust fund general revenue, private donations for the purpose of matching state funds, and federal receipts for scholarships and grant programs. An individual account code shall be established for each funded scholarship and grant program for auditing purposes.

(3)  Notwithstanding the provisions of s. 216.301, and pursuant to s. 216.351, any balance in the trust fund at the end of any fiscal year shall remain in the trust fund and shall be available for carrying out the purposes of the trust fund.

History.--s. 1, ch. 95-226; s. 1, ch. 95-375.

¹Note.--As created by s. 1, ch. 95-375, this sentence reads: "The department is authorized to transfer general revenue, private donations, and federal receipts for scholarship and grant programs into the trust fund."