Florida Senate - 2013 SB 218 By Senator Hays 11-00550-13 2013218__ 1 A bill to be entitled 2 An act relating to trust funds; re-creating the 3 Mortgage Guaranty Trust Fund within the Office of 4 Financial Regulation without modification; repealing 5 s. 494.00173(4), F.S.; abrogating provisions relating 6 to the termination of the trust fund, to conform; 7 providing an effective date. 8 9 WHEREAS, the Legislature wishes to extend the life of the 10 Mortgage Guaranty Trust Fund within the Office of Financial 11 Regulation, which is otherwise scheduled to be terminated 12 pursuant to constitutional mandate, and 13 WHEREAS, the Legislature has reviewed the trust fund before 14 its scheduled termination date and has found that it continues 15 to meet an important public purpose, and 16 WHEREAS, the Legislature has found that existing public 17 policy concerning the trust fund sets adequate parameters for 18 its use, NOW, THEREFORE, 19 20 Be It Enacted by the Legislature of the State of Florida: 21 22 Section 1. The Mortgage Guaranty Trust Fund within the 23 Office of Financial Regulation, FLAIR number 43-2-487, which is 24 to be terminated pursuant to Section 19(f), Article III of the 25 State Constitution on July 1, 2014, is re-created. 26 Section 2. Subsection (4) of section 494.00173, Florida 27 Statutes, is repealed. 28 Section 3. This act shall take effect July 1, 2013.