January 26, 2020
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HB 855

A bill to be entitled
2An act relating to trust funds; creating s. 637.1028,
3F.S.; creating the Title Insurance Regulatory Trust Fund
4within the Division of Title Insurance of the Department
5of Financial Services; providing for administration of the
6trust fund and use of moneys therein; requiring balances
7to remain in the trust fund; providing for future review
8and termination or re-creation of the trust fund;
9providing a contingent effective date.
11Be It Enacted by the Legislature of the State of Florida:
13     Section 1.  Section 637.1028, Florida Statutes, is created
14to read:
15     637.1028  Title Insurance Regulatory Trust Fund.-
16     (1)  The Title Insurance Regulatory Trust Fund is created
17within the Division of Title Insurance of the Department of
18Financial Services. All fees and charges collected from title
19insurers and title insurance agents and agencies pursuant to s.
20637.2031 shall be deposited in the Title Insurance Regulatory
21Trust Fund and shall be used for the sole purpose of carrying
22out the responsibilities of the Division of Title Insurance.
23     (2)  Notwithstanding s. 216.301 and pursuant to s. 216.351,
24any balance in the trust fund at the end of any fiscal year
25shall remain in the trust fund and be available for carrying out
26the purposes of the trust fund.
27     (3)  Pursuant to s. 19(f)(2), Art. III of the State
28Constitution, the trust fund shall, unless terminated sooner, be
29terminated on July 1, 2014. Prior to its scheduled termination,
30the trust fund shall be reviewed as provided in s. 215.3206(1)
31and (2).
32     Section 2.  This act shall take effect July 1, 2010, if
33House Bill 853 or similar legislation is adopted in the same
34legislative session or an extension thereof and becomes law.

CODING: Words stricken are deletions; words underlined are additions.
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