Florida Senate - 2015 SB 2520-A By Senator Lee 24-00017-15A 20152520A__ 1 A bill to be entitled 2 An act relating to trust funds; creating s. 20.142, 3 F.S.; creating the Land Acquisition Trust Fund within 4 the Department of Agriculture and Consumer Services; 5 providing for the purpose of the trust fund and 6 sources of funds; requiring the department to maintain 7 the integrity of such funds; providing for disposition 8 of funds from reversions or reductions in budget 9 authority from the trust fund; requiring that title to 10 lands or related property interests acquired be vested 11 in the Board of Trustees of the Internal Improvement 12 Trust Fund; requiring the department or its designee 13 to manage lands or related property interests acquired 14 in accordance with the purposes set forth in s. 28, 15 Art. X of the State Constitution; providing a 16 restriction on how funds may be invested; providing 17 for future review and termination or re-creation of 18 the trust fund; providing an effective date. 19 20 Be It Enacted by the Legislature of the State of Florida: 21 22 Section 1. Section 20.142, Florida Statutes, is created to 23 read: 24 20.142 Land Acquisition Trust Fund.— 25 (1) The Land Acquisition Trust Fund is created within the 26 Department of Agriculture and Consumer Services. The trust fund 27 is established for use as a depository for funds received from 28 the Land Acquisition Trust Fund within the Department of 29 Environmental Protection and for expenditure of such funds for 30 the purposes set forth in s. 28, Art. X of the State 31 Constitution. 32 (2) The Department of Agriculture and Consumer Services 33 must maintain the integrity of such moneys transferred from the 34 Department of Environmental Protection. Any transferred moneys 35 available from reversions or reductions in budget authority 36 shall be transferred back to the Land Acquisition Trust Fund 37 within the Department of Environmental Protection within 15 days 38 after such reversion or reduction and shall be available for 39 future appropriation for the purposes set forth in s. 28, Art. X 40 of the State Constitution. 41 (3) If expenditures from the trust fund will result in 42 state ownership of land or related property interests, title 43 shall be vested in the Board of Trustees of the Internal 44 Improvement Trust Fund as required under chapter 253. Such 45 acquisition of land or related property interests shall be by 46 voluntary, negotiated acquisition and, if title is to be vested 47 in the Board of Trustees of the Internal Improvement Trust Fund, 48 is subject to the acquisition procedures of s. 253.025. 49 Acquisition costs shall include purchase prices and costs and 50 fees associated with title work, surveys, and appraisals 51 required to complete an acquisition. The Department of 52 Agriculture and Consumer Services or its designee shall manage 53 such lands or related property interests in accordance with the 54 purposes set forth in s. 28, Art. X of the State Constitution. 55 Other uses, not contrary to such purposes, may be authorized. 56 (4) Moneys in the trust fund may not be invested as 57 provided in s. 17.61, but shall be retained in the trust fund 58 for investment with interest appropriated to the General Revenue 59 Fund as provided in s. 17.57. 60 (5) In accordance with s. 19(f)(2), Art. III of the State 61 Constitution, the Land Acquisition Trust Fund within the 62 Department of Agriculture and Consumer Services shall, unless 63 terminated sooner, be terminated on July 1, 2019. Before its 64 scheduled termination, the trust fund shall be reviewed as 65 provided in s. 215.3206. 66 Section 2. This act shall take effect July 1, 2015.