| 1 | A bill to be entitled |
| 2 | An act relating to trust funds; terminating the |
| 3 | International Registration Clearing Trust Fund within the |
| 4 | Department of Highway Safety and Motor Vehicles; providing |
| 5 | for the disposition of balances in and revenues of the |
| 6 | trust fund; prescribing procedures for terminating the |
| 7 | trust fund; repealing s. 2(4)(a), ch. 2004-235, Laws of |
| 8 | Florida, relating to an exemption from termination |
| 9 | provided for the trust fund; providing an effective date. |
| 10 |
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| 11 | Be It Enacted by the Legislature of the State of Florida: |
| 12 |
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| 13 | Section 1. (1) The International Registration Clearing |
| 14 | Trust Fund within the Department of Highway Safety and Motor |
| 15 | Vehicles, FLAIR number 76-2-410, is terminated. |
| 16 | (2) All current balances remaining in, and all revenues |
| 17 | of, the trust fund shall be transferred to the General Revenue |
| 18 | Fund. |
| 19 | (3) The Department of Highway Safety and Motor Vehicles |
| 20 | shall pay any outstanding debts and obligations of the |
| 21 | terminated fund as soon as practicable, and the Chief Financial |
| 22 | Officer shall close out and remove the terminated fund from the |
| 23 | various state accounting systems using generally accepted |
| 24 | accounting principles concerning warrants outstanding, assets, |
| 25 | and liabilities. |
| 26 | Section 2. Paragraph (a) of subsection (4) of section 2 of |
| 27 | chapter 2004-235, Laws of Florida, is repealed. |
| 28 | Section 3. This act shall take effect July 1, 2011. |