Senate Bill sb0512

    Florida Senate - 2001                                   SB 512

    By Senator Clary





    7-466-01

  1                      A bill to be entitled

  2         An act relating to the Rural Economic

  3         Development Account; amending s. 288.095, F.S.;

  4         creating the Rural Economic Development

  5         Account; providing for review and termination

  6         or re-creation of the account; providing an

  7         appropriation; providing a contingent effective

  8         date.

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10  Be It Enacted by the Legislature of the State of Florida:

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12         Section 1.  Subsection (4) is added to section 288.095,

13  Florida Statutes, to read:

14         288.095  Economic Development Trust Fund.--

15         (4)  There is created within the Economic Development

16  Trust Fund, the Rural Economic Development Account. The Rural

17  Economic Development Account consists of all funds

18  appropriated to it for the purposes of ss. 288.065, 288.018,

19  and 288.0655, all repayments as provided under ss. 288.065,

20  288.018, and 288.0655, and any income associated with the

21  account. Notwithstanding s. 216.301, funds in the Rural

22  Economic Development Account are not subject to reversion.

23         Section 2.  In accordance with Section 19(f)(2),

24  Article III of the State Constitution, the Rural Economic

25  Development Account shall, unless terminated sooner, be

26  terminated on July 1, 2005. Before its scheduled termination,

27  the Rural Economic Development Account shall be reviewed as

28  provided in section 215.3206(1) and (2), Florida Statutes.

29         Section 3.  The sum of $5 million is appropriated from

30  the General Revenue Fund to the Rural Economic Development

31  Account within the Office of Tourism, Trade, and Economic

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    Florida Senate - 2001                                   SB 512
    7-466-01




  1  Development for the purpose of implementing section 288.065,

  2  Florida Statutes, during the 2001-2002 fiscal year.

  3         Section 4.  This act shall take effect on the effective

  4  date of Senate Bill ____, but it shall not take effect unless

  5  it is enacted by a three-fifths vote of the membership of each

  6  house of the Legislature and unless SB ____, 2001 Regular

  7  Session, becomes a law.

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10                          SENATE SUMMARY

11    Creates the Rural Economic Development Account within the
      Economic Development Trust Fund administered by the
12    Office of Tourism, Trade, and Economic Development.
      Provides for review and termination or re-creation of the
13    account. Provides an appropriation.

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CODING: Words stricken are deletions; words underlined are additions.