SB 2520-A First Engrossed 20152520Ae1 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 Article 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 for contingent retroactive 19 operation; providing effective dates. 20 21 Be It Enacted by the Legislature of the State of Florida: 22 23 Section 1. Section 20.142, Florida Statutes, is created to 24 read: 25 20.142 Land Acquisition Trust Fund.— 26 (1) The Land Acquisition Trust Fund is created within the 27 Department of Agriculture and Consumer Services. The trust fund 28 is established for use as a depository for funds received from 29 the Land Acquisition Trust Fund within the Department of 30 Environmental Protection and for expenditure of such funds for 31 the purposes set forth in s. 28, Art. X of the State 32 Constitution. 33 (2) The Department of Agriculture and Consumer Services 34 must maintain the integrity of such moneys transferred from the 35 Department of Environmental Protection. Any transferred moneys 36 available from reversions or reductions in budget authority 37 shall be transferred back to the Land Acquisition Trust Fund 38 within the Department of Environmental Protection within 15 days 39 after such reversion or reduction and shall be available for 40 future appropriation for the purposes set forth in s. 28, Art. X 41 of the State Constitution. 42 (3) If expenditures from the trust fund will result in 43 state ownership of land or related property interests, title 44 shall be vested in the Board of Trustees of the Internal 45 Improvement Trust Fund as required under chapter 253. Such 46 acquisition of land or related property interests shall be by 47 voluntary, negotiated acquisition and, if title is to be vested 48 in the Board of Trustees of the Internal Improvement Trust Fund, 49 is subject to the acquisition procedures of s. 253.025. 50 Acquisition costs shall include purchase prices and costs and 51 fees associated with title work, surveys, and appraisals 52 required to complete an acquisition. The Department of 53 Agriculture and Consumer Services or its designee shall manage 54 such lands or related property interests in accordance with the 55 purposes set forth in s. 28, Art. X of the State Constitution. 56 Other uses, not contrary to such purposes, may be authorized. 57 (4) Moneys in the trust fund may not be invested as 58 provided in s. 17.61, but shall be retained in the trust fund 59 for investment with interest appropriated to the General Revenue 60 Fund as provided in s. 17.57. 61 (5) In accordance with s. 19(f)(2), Art. III of the State 62 Constitution, the Land Acquisition Trust Fund within the 63 Department of Agriculture and Consumer Services shall, unless 64 terminated sooner, be terminated on July 1, 2019. Before its 65 scheduled termination, the trust fund shall be reviewed as 66 provided in s. 215.3206. 67 Section 2. Except as otherwise expressly provided in this 68 act and except for this section, which shall take effect upon 69 this act becoming a law, this act shall take effect July 1, 70 2015, or, if this act fails to become a law until after that 71 date, it shall take effect upon becoming a law and operate 72 retroactively to July 1, 2015.