Florida Senate - 2018                                     SB 370
       
       
        
       By Senator Bradley
       
       
       
       
       
       5-00364-18                                             2018370__
    1                        A bill to be entitled                      
    2         An act relating to the Land Acquisition Trust Fund;
    3         amending s. 375.041, F.S.; requiring a specified
    4         annual appropriation to the Florida Forever Trust
    5         Fund; deleting an obsolete provision; providing an
    6         effective date.
    7          
    8  Be It Enacted by the Legislature of the State of Florida:
    9  
   10         Section 1. Subsection (3) of section 375.041, Florida
   11  Statutes, is amended to read:
   12         375.041 Land Acquisition Trust Fund.—
   13         (3) Funds distributed into the Land Acquisition Trust Fund
   14  pursuant to s. 201.15 shall be applied:
   15         (a) First, to pay debt service or to fund debt service
   16  reserve funds, rebate obligations, or other amounts payable with
   17  respect to Florida Forever bonds issued under s. 215.618; and
   18  pay debt service, provide reserves, and pay rebate obligations
   19  and other amounts due with respect to Everglades restoration
   20  bonds issued under s. 215.619; and
   21         (b) Of the funds remaining after the payments required
   22  under paragraph (a), but before funds may be appropriated,
   23  pledged, or dedicated for other uses:
   24         1. A minimum of the lesser of 25 percent or $200 million
   25  shall be appropriated annually for Everglades projects that
   26  implement the Comprehensive Everglades Restoration Plan as set
   27  forth in s. 373.470, including the Central Everglades Planning
   28  Project subject to Congressional authorization; the Long-Term
   29  Plan as defined in s. 373.4592(2); and the Northern Everglades
   30  and Estuaries Protection Program as set forth in s. 373.4595.
   31  From these funds, $32 million shall be distributed each fiscal
   32  year through the 2023-2024 fiscal year to the South Florida
   33  Water Management District for the Long-Term Plan as defined in
   34  s. 373.4592(2). After deducting the $32 million distributed
   35  under this subparagraph, from the funds remaining, a minimum of
   36  the lesser of 76.5 percent or $100 million shall be appropriated
   37  each fiscal year through the 2025-2026 fiscal year for the
   38  planning, design, engineering, and construction of the
   39  Comprehensive Everglades Restoration Plan as set forth in s.
   40  373.470, including the Central Everglades Planning Project, the
   41  Everglades Agricultural Area Storage Reservoir Project, the Lake
   42  Okeechobee Watershed Project, the C-43 West Basin Storage
   43  Reservoir Project, the Indian River Lagoon-South Project, the
   44  Western Everglades Restoration Project, and the Picayune Strand
   45  Restoration Project. The Department of Environmental Protection
   46  and the South Florida Water Management District shall give
   47  preference to those Everglades restoration projects that reduce
   48  harmful discharges of water from Lake Okeechobee to the St.
   49  Lucie or Caloosahatchee estuaries in a timely manner. For the
   50  purpose of performing the calculation provided in this
   51  subparagraph, the amount of debt service paid pursuant to
   52  paragraph (a) for bonds issued after July 1, 2016, for the
   53  purposes set forth under paragraph (b) shall be added to the
   54  amount remaining after the payments required under paragraph
   55  (a). The amount of the distribution calculated shall then be
   56  reduced by an amount equal to the debt service paid pursuant to
   57  paragraph (a) on bonds issued after July 1, 2016, for the
   58  purposes set forth under this subparagraph.
   59         2. A minimum of the lesser of 7.6 percent or $50 million
   60  shall be appropriated annually for spring restoration,
   61  protection, and management projects. For the purpose of
   62  performing the calculation provided in this subparagraph, the
   63  amount of debt service paid pursuant to paragraph (a) for bonds
   64  issued after July 1, 2016, for the purposes set forth under
   65  paragraph (b) shall be added to the amount remaining after the
   66  payments required under paragraph (a). The amount of the
   67  distribution calculated shall then be reduced by an amount equal
   68  to the debt service paid pursuant to paragraph (a) on bonds
   69  issued after July 1, 2016, for the purposes set forth under this
   70  subparagraph.
   71         3. The sum of $5 million shall be appropriated annually
   72  each fiscal year through the 2025-2026 fiscal year to the St.
   73  Johns River Water Management District for projects dedicated to
   74  the restoration of Lake Apopka. This distribution shall be
   75  reduced by an amount equal to the debt service paid pursuant to
   76  paragraph (a) on bonds issued after July 1, 2016, for the
   77  purposes set forth in this subparagraph.
   78         4. The sum of $64 million is appropriated and shall be
   79  transferred to the Everglades Trust Fund for the 2018-2019
   80  fiscal year, and each fiscal year thereafter, for the EAA
   81  reservoir project pursuant to s. 373.4598. Any funds remaining
   82  in any fiscal year shall be made available only for Phase II of
   83  the C-51 reservoir project or projects identified in
   84  subparagraph 1. and must be used in accordance with laws
   85  relating to such projects. Any funds made available for such
   86  purposes in a fiscal year are in addition to the amount
   87  appropriated under subparagraph 1. This distribution shall be
   88  reduced by an amount equal to the debt service paid pursuant to
   89  paragraph (a) on bonds issued after July 1, 2017, for the
   90  purposes set forth in this subparagraph.
   91         5. The sum of $100 million shall be appropriated annually
   92  to the Florida Forever Trust Fund Notwithstanding subparagraph
   93  3., for the 2017-2018 fiscal year, funds shall be appropriated
   94  as provided in the General Appropriations Act. This subparagraph
   95  expires July 1, 2018.
   96         Section 2. This act shall take effect July 1, 2018.