Florida Senate - 2015                                     SB 426
       By Senator Gaetz
       1-00439A-15                                            2015426__
    1                        A bill to be entitled                      
    2         An act relating to trust funds; terminating the
    3         Building Fee Trust Fund within the Board of Governors
    4         of the State University System; providing for the
    5         disposition of balances in and revenues of the trust
    6         fund; prescribing procedures for the termination of
    7         the trust fund; amending s. 1010.86, F.S.; conforming
    8         provisions to changes made by this act; providing an
    9         effective date.
   11  Be It Enacted by the Legislature of the State of Florida:
   13         Section 1. (1)The Building Fee Trust Fund, FLAIR number
   14  48-2-064, within the Board of Governors of the State University
   15  System, is terminated.
   16         (2)All current balances remaining and all revenues of the
   17  Building Fee Trust Fund shall be transferred to the Capital
   18  Improvement Fee Trust Fund, FLAIR number 48-2-071, within the
   19  Board of Governors of the State University System.
   20         (3)The Board of Governors of the State University System
   21  shall pay any outstanding debts or obligations of the terminated
   22  trust fund as soon as practicable. After the payment of all such
   23  outstanding debts and obligations, the Chief Financial Officer
   24  shall close out and remove the terminated trust fund from
   25  various state accounting systems using generally accepted
   26  accounting principles concerning warrants outstanding, assets,
   27  and liabilities.
   28         Section 2. Section 1010.86, Florida Statutes, is amended to
   29  read:
   30         1010.86 Administration of the capital improvement fee and
   31  building fees trust fund funds.—The Board of Governors of the
   32  State University System State Board of Education shall
   33  administer the Capital Improvement Fee Trust Fund, and the
   34  Building Fee Trust Fund which includes include receipts from
   35  capital improvement and building student fee assessments,
   36  interest earnings, and subsidy grants. All funds, except those
   37  to be used for debt service payments, reserve requirements, and
   38  educational research centers for child development, pursuant to
   39  s. 1011.48, shall be used to fund projects appropriated by the
   40  Legislature. Projects funded pursuant to this section may be
   41  expanded by the use of supplemental funds such as grants,
   42  auxiliary enterprises, private donations, and other nonstate
   43  sources.
   44         Section 3. This act shall take effect July 1, 2015.