2010 Legislature SB 2462
2 An act relating to trust funds; creating the Federal
3 Grants Trust Fund within the Department of Community
4 Affairs; providing for sources of funds and purposes;
5 providing for future review and termination or re
6 creation of the trust fund; providing a contingent
7 effective date.
9 Be It Enacted by the Legislature of the State of Florida:
11 Section 1. Federal Grants Trust Fund.—
12 (1) The Federal Grants Trust Fund is created within the
13 Department of Community Affairs.
14 (2) The trust fund is established for use as a depository
15 for funds to be used for allowable grant activities funded by
16 restricted program revenues from federal sources. Moneys to be
17 credited to the trust fund shall consist of grants and funding
18 from the Federal Government, interest earnings, and cash
19 advances from other trust funds. Funds shall be expended only
20 pursuant to legislative appropriation or an approved amendment
21 to the department’s operating budget pursuant to the provisions
22 of chapter 216, Florida Statutes.
23 (3) In accordance with s. 19(f)(2), Article III of the
24 State Constitution, the Federal Grants Trust Fund shall, unless
25 terminated sooner, be terminated on July 1, 2014. Before its
26 scheduled termination, the trust fund shall be reviewed as
27 provided in s. 215.3206(1) and (2), Florida Statutes.
28 Section 2. This act shall take effect July 1, 2010, but it
29 shall not take effect unless it is enacted by a three-fifths
30 vote of the membership of each house of the Legislature.