Florida Senate - 2010 SB 1454
By Senator Alexander
1 A bill to be entitled
2 An act relating to the state judicial system; amending
3 s. 28.33, F.S.; providing that interest on county
4 funds invested by the clerk of the court is income of
5 the office of the clerk; providing an effective date.
7 Be It Enacted by the Legislature of the State of Florida:
9 Section 1. Section 28.33, Florida Statutes, is amended to
11 28.33 Investment of county funds by the clerk of the
12 circuit court.—The clerk of the circuit court in each county
13 shall invest county funds in excess of those required to meet
14 expenses as provided in s. 218.415. No clerk investing such
15 funds shall be liable for the loss of any interest when
16 circumstances require the withdrawal of funds placed in a time
17 deposit and needed for immediate payment of county obligations.
18 Except for interest earned on moneys deposited in the registry
19 of the court, all interest accruing from moneys deposited shall
20 be deemed income of the office of the clerk of the circuit court
21 investing such moneys and shall be deposited in the same account
22 as are other fees and commissions of the clerk’s office
23 and may be expended as receipts of the county as approved by the
24 board of county commissioners pursuant to chapter 129. The clerk
25 may invest moneys deposited in the registry of the court and
26 shall retain as income of the office of the clerk and as a
27 reasonable investment management fee 10 percent of the interest
28 accruing on those funds with the balance of such interest being
29 allocated in accordance with the interest of the depositors.
30 Section 2. This act shall take effect July 1, 2010.