Florida Senate - 2013                                     SB 214
       
       
       
       By Senator Hays
       
       
       
       
       11-00348A-13                                           2013214__
    1                        A bill to be entitled                      
    2         An act relating to trust funds; terminating the
    3         Florida Forever Program Trust Fund within the
    4         Department of Environmental Protection; providing for
    5         the disposition of balances in and revenues of the
    6         trust fund; prescribing procedures for the termination
    7         of the trust fund; repealing s. 380.5115, F.S.,
    8         relating to the Florida Forever Program Trust Fund
    9         within the Department of Environmental Protection;
   10         amending s. 259.101, F.S.; revising the designation of
   11         revenues from the disposal of lands in the
   12         Preservation 2000 program; providing an effective
   13         date.
   14  
   15  Be It Enacted by the Legislature of the State of Florida:
   16  
   17         Section 1. (1) The Florida Forever Program Trust Fund
   18  within the Department of Environmental Protection, FLAIR number
   19  20-2-349, is terminated.
   20         (2) All current balances remaining in, and all revenues of,
   21  the trust fund shall be transferred to the Florida Forever Trust
   22  Fund within the Department of Environmental Protection, FLAIR
   23  number 20-2-348.
   24         (3) The Department of Environmental Protection shall pay
   25  any outstanding debts or obligations of the terminated fund as
   26  soon as practicable, and the Chief Financial Officer shall close
   27  out and remove the terminated fund from various state accounting
   28  systems using generally accepted accounting principles
   29  concerning warrants outstanding, assets, and liabilities.
   30         Section 2. Section 380.5115, Florida Statutes, is repealed.
   31         Section 3. Paragraph (c) of subsection (6) of section
   32  259.101, Florida Statutes, is amended to read:
   33         259.101 Florida Preservation 2000 Act.—
   34         (6) DISPOSITION OF LANDS.—
   35         (c) Notwithstanding paragraphs (a) and (b), no such
   36  disposition of land shall be made if such disposition would have
   37  the effect of causing all or any portion of the interest on any
   38  revenue bonds issued to fund the Florida Preservation 2000 Act
   39  to lose their exclusion from gross income for purposes of
   40  federal income taxation. Any revenue derived from the disposal
   41  of such lands may not be used for any purpose except for deposit
   42  into the Florida Preservation 2000 Trust Fund, or the Florida
   43  Forever Trust Fund within the Department of Environmental
   44  Protection, for recredit to the share held under subsection (3),
   45  in which such disposed land is described.
   46         Section 4. This act shall take effect July 1, 2013.