HB 1531

1	A bill to be entitled
2	An act relating to the SURE Venture Capital Trust Fund;
3	creating s. 288.9627, F.S.; creating the SURE Venture
4	Capital Trust Fund within the State Treasury; providing
5	for the use of the fund; providing for sources of funds;
6	providing for annual carryforward of funds; providing for
7	future review and termination or re-creation of the trust
8	fund; providing a contingent effective date.
9
10	Be It Enacted by the Legislature of the State of Florida:
11
12	Section 1.  Section 288.9627, Florida Statutes, is created
13	to read:
14	288.9627  SURE Venture Capital Trust Fund.--
15	(1)  The SURE Venture Capital Trust Fund is created within
16	the State Treasury for the purpose of funding the organizational
17	and operational expenses of the SURE Venture Capital Fund in
18	support of the activities of the fund as authorized in s.
19	288.9626.
20	(2)  Funds credited to the trust fund shall consist of
21	funds appropriated by the Legislature for the SURE Venture
22	Capital Fund, grants and donations received by the fund, and
23	investment earnings.
24	(3)  Notwithstanding s. 216.301 and pursuant to s. 216.351,
25	any balance in the trust fund at the end of the fiscal year
26	shall remain in the trust fund and shall be available for
27	carrying out the purposes of the trust fund.
28	(4)  In accordance with s. 19(f)(2), Art. III of the State
29	Constitution, the SURE Venture Capital Trust Fund shall, unless
30	terminated sooner, be terminated on July 1, 2011. Before its
31	scheduled termination, the trust fund shall be reviewed as
32	provided in s. 215.3206(1) and (2).
33	Section 2.  This act shall take effect July 1, 2007, if
34	House Bill 1521 or similar legislation creating the SURE Venture
35	Capital Fund is adopted in the same legislative session or an
36	extension thereof and becomes law.

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