Senate Bill sb1428

    Florida Senate - 2007                                  SB 1428

    By Senator Fasano





    11-1838A-07

  1                      A bill to be entitled

  2         An act relating to trust funds; creating the

  3         Administrative Trust Fund within the Department

  4         of Transportation; providing for sources of

  5         funds and purposes; providing for future review

  6         and termination or re-creation of the trust

  7         fund; providing an effective date.

  8  

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

10  

11         Section 1.  (1)  The Administrative Trust Fund is

12  created within the Department of Transportation.

13         (2)  The fund is established for use as a depository

14  for funds to be used for management activities that are

15  departmental in nature and funded by indirect cost earnings or

16  assessments against trust funds. Moneys to be credited to the

17  trust fund include indirect cost reimbursements from grantors,

18  administrative assessments against trust funds, interest

19  earnings, and other appropriate administrative fees.

20         (3)  In accordance with Section 19(f)(2), Article III

21  of the State Constitution, the Administrative Trust Fund

22  shall, unless terminated sooner, be terminated on July 1,

23  2012. Before its scheduled termination, the trust fund shall

24  be reviewed as provided in s. 215.3206(1) and (2), Florida

25  Statutes.

26         Section 2.  This act shall take effect July 1, 2008.

27  

28            *****************************************

29                          SENATE SUMMARY

30    Creates the Administrative Trust Fund within the
      Department of Transportation. Provides for future review
31    and termination or re-creation of the trust fund.

                                  1

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