| 1 | A bill to be entitled |
| 2 | An act relating to trust funds; creating s. 1001.282, |
| 3 | F.S.; creating the Administrative Trust Fund within the |
| 4 | Department of Education; providing for sources of funds |
| 5 | and purposes; providing for annual carryforward of funds; |
| 6 | providing for future review and termination or re-creation |
| 7 | of the trust fund; providing an effective date. |
| 8 |
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| 9 | Be It Enacted by the Legislature of the State of Florida: |
| 10 |
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| 11 | Section 1. Section 1001.282, Florida Statutes, is created |
| 12 | to read: |
| 13 | 1001.282 Administrative Trust Fund.-- |
| 14 | (1) The Administrative Trust Fund, FLAIR number 48-2-021, |
| 15 | is created within the Department of Education. |
| 16 | (2) The trust fund is established for use as a depository |
| 17 | for funds to be used for management activities that are |
| 18 | department-wide in nature and funded by indirect cost earnings |
| 19 | or assessments against trust funds. Moneys to be credited to the |
| 20 | trust fund include indirect cost reimbursements from grantors, |
| 21 | administrative assessments against trust funds, interest |
| 22 | earnings, and other appropriate administrative fees. |
| 23 | (3) Notwithstanding the provisions of s. 216.301 and |
| 24 | pursuant to s. 216.351, any balance in the trust fund at the end |
| 25 | of any fiscal year shall remain in the trust fund at the end of |
| 26 | the year and shall be available for carrying out the purposes of |
| 27 | the trust fund. |
| 28 | (4) In accordance with s. 19(f)(2), Art. III of the State |
| 29 | Constitution, the Administrative Trust Fund shall, unless |
| 30 | terminated sooner, be terminated on July 1, 2012. 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, 2008. |