CODING: Words stricken are deletions; words underlined are additions.
SENATE AMENDMENT
Bill No. CS for SB 1602
Amendment No.
CHAMBER ACTION
Senate House
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11 Senator Sebesta moved the following amendment:
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13 Senate Amendment (with title amendment)
14 On page 4, between lines 20 and 21,
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17 Section 2. Subsection (6) of section 265.606, Florida
18 Statutes, is amended to read:
19 265.606 Cultural Endowment Program; administration;
20 qualifying criteria; matching fund program levels;
21 distribution.--
22 (6)(a) Preservation of the $600,000 capital value of
23 each endowment shall be the primary investment constraint upon
24 the trustee.
25 (b) The investment objectives of the trustee are to
26 preserve the principal amount of each endowment while
27 maximizing current income through the use of
28 investment-quality financial fixed income instruments. The
29 market value of $600,000 for each individual endowment in a
30 local cultural endowment program fund shall be maintained.
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SENATE AMENDMENT
Bill No. CS for SB 1602
Amendment No.
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2 And the title is amended as follows:
3 On page 1, line 17, after the semicolon
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5 insert:
6 amending s. 265.606, F.S.; revising the types
7 of instruments into which the trustees may
8 invest, to include any investment-quality
9 financial instruments;
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