Senate Bill 0854

Senate Bill sb0854c1

CODING: Words stricken are deletions; words underlined are additions.
    Florida Senate - 2004                            CS for SB 854

    By the Committee on Appropriations; and Senator Clary





    309-1934-04

  1                      A bill to be entitled

  2         An act relating to trust funds; re-creating the

  3         Securities Guaranty Fund within the Office of

  4         Financial Regulation without modification;

  5         carrying forward current balances and

  6         continuing current sources and uses thereof;

  7         providing an effective date.

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  9         WHEREAS, the Legislature wishes to extend the life of

10  the Securities Guaranty Fund within the Office of Financial

11  Regulation, which is otherwise scheduled to be terminated

12  pursuant to constitutional mandate, and

13         WHEREAS, the Legislature has reviewed the trust fund

14  before its scheduled termination date and has found that it

15  continues to meet an important public purpose, and

16         WHEREAS, the Legislature has found that existing public

17  policy concerning the trust fund sets adequate parameters for

18  its use, NOW, THEREFORE,

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20  Be It Enacted by the Legislature of the State of Florida:

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22         Section 1.  (1)  The Securities Guaranty Fund within

23  the Office of Financial Regulation, FLAIR number 43-2-626,

24  which is to be terminated pursuant to Section 19(f), Article

25  III of the State Constitution on November 4, 2004, is

26  re-created.

27         (2)  All current balances of the trust fund are carried

28  forward, and all current sources and uses of the trust fund

29  are continued.

30         Section 2.  This act shall take effect November 4,

31  2004.

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    Florida Senate - 2004                            CS for SB 854
    309-1934-04




 1          STATEMENT OF SUBSTANTIAL CHANGES CONTAINED IN
                       COMMITTEE SUBSTITUTE FOR
 2                         Senate Bill 854

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 4  The committee substitute differs from the bill as filed in
    that it changes the name of the Office of Financial
 5  Institutions & Securities Regulation to the Office of
    Financial Regulation.
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