Florida Senate - 2022 SB 1866 By Senator Gibson 6-01498-22 20221866__ 1 A bill to be entitled 2 An act relating to trust funds; creating s. 1010.88, 3 F.S.; creating the Historically Black Colleges and 4 Universities Matching Endowment Scholarship Trust Fund 5 within the Department of Education; providing the 6 purpose of the trust fund and its funding sources; 7 providing for future review and termination or re 8 creation of the trust fund; providing a contingent 9 effective date. 10 11 Be It Enacted by the Legislature of the State of Florida: 12 13 Section 1. Section 1010.88, Florida Statutes, is created to 14 read: 15 1010.88 Historically Black Colleges and Universities 16 Matching Endowment Scholarship Trust Fund.— 17 (1) The Historically Black Colleges and Universities 18 Matching Endowment Scholarship Trust Fund is created within the 19 Department of Education. 20 (2) The trust fund is established for use as a depository 21 for funds to be used for purposes of the Historically Black 22 Colleges and Universities Matching Endowment Scholarship Program 23 established under s. 1009.896. 24 (3) Moneys to be credited to the trust fund must consist of 25 an appropriation from the Legislature and matching funds from 26 participating historically black colleges and universities in 27 this state. 28 (4) In accordance with s. 19(f)(2), Art. III of the State 29 Constitution, the trust fund shall, unless terminated sooner, be 30 terminated on July 1, 2026. Before its scheduled termination, 31 the trust fund shall be reviewed as provided in s. 215.3206(1) 32 and (2). 33 Section 2. This act shall take effect on the same date that 34 SB ___ or similar legislation takes effect if such legislation 35 is enacted in the same legislative session or an extension 36 thereof and becomes a law, and only if this act is enacted by a 37 three-fifths vote of the membership of each house of the 38 Legislature.