| 1 | The Transportation & Economic Development Appropriations |
| 2 | Committee recommends the following: |
| 3 |
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| 4 | Council/Committee Substitute |
| 5 | Remove the entire bill and insert: |
| 6 | A bill to be entitled |
| 7 | An act relating to the Entertainment Industry Financial |
| 8 | Incentive Trust Fund; creating the Entertainment Industry |
| 9 | Financial Incentive Trust Fund; providing for sources of |
| 10 | funds and purposes; requiring funds to remain in the trust |
| 11 | fund at the end of each fiscal year; providing for future |
| 12 | review and termination or re-creation of the fund; |
| 13 | providing a contingent effective date. |
| 14 |
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| 15 | Be It Enacted by the Legislature of the State of Florida: |
| 16 |
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| 17 | Section 1. (1) The Entertainment Industry Financial |
| 18 | Incentive Trust Fund is created within, and shall be |
| 19 | administered by, the Office of Tourism, Trade, and Economic |
| 20 | Development. Moneys credited to the fund shall be those |
| 21 | appropriated from the General Revenue Fund or from other sources |
| 22 | for operations and for making incentive payments under section |
| 23 | 288.1254, Florida Statutes. The purpose of the trust fund is to |
| 24 | facilitate the payment of incentives under such program. |
| 25 | (2) Notwithstanding section 216.301, Florida Statutes, and |
| 26 | under section 216.351, Florida Statutes, any balance in the |
| 27 | trust fund at the end of any fiscal year shall remain in the |
| 28 | trust fund at the end of the fiscal year and shall be available |
| 29 | for carrying out the purposes of the trust fund. |
| 30 | (3) In accordance with Section 19(f)(2), Article III of |
| 31 | the State Constitution, the trust fund must, unless terminated |
| 32 | sooner, be terminated on July 1, 2009. Before its scheduled |
| 33 | termination, the trust fund must be reviewed as provided in |
| 34 | section 215.3206(1) and (2), Florida Statutes. |
| 35 | Section 2. This act shall take effect July 1, 2005, but it |
| 36 | shall not take effect unless it is enacted by a three-fifths |
| 37 | vote of the membership of each house of the Legislature. |