| 1 | A bill to be entitled |
| 2 | An act relating to the Florida Endowment Foundation for |
| 3 | Vocational Rehabilitation; amending s. 318.21, F.S.; |
| 4 | revising provisions for distribution of specified funds |
| 5 | received from civil penalties for traffic infractions; |
| 6 | directing the funds to be transmitted monthly by the |
| 7 | Department of Revenue directly to the foundation; amending |
| 8 | s. 413.615, F.S.; revising procedures for use of such |
| 9 | funds; removing provisions for investment by the State |
| 10 | Board of Administration; directing balances of such funds |
| 11 | held by the State Board of Administration to be remitted |
| 12 | to the foundation; providing an effective date. |
| 13 |
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| 14 | Be It Enacted by the Legislature of the State of Florida: |
| 15 |
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| 16 | Section 1. Paragraph (e) of subsection (2) and subsection |
| 17 | (5) of section 318.21, Florida Statutes, are amended to read: |
| 18 | 318.21 Disposition of civil penalties by county courts.- |
| 19 | All civil penalties received by a county court pursuant to the |
| 20 | provisions of this chapter shall be distributed and paid monthly |
| 21 | as follows: |
| 22 | (2) Of the remainder: |
| 23 | (e) Two percent shall be remitted to the Department of |
| 24 | Revenue and transmitted monthly to for deposit in the endowment |
| 25 | fund of the Florida Endowment Foundation for Vocational |
| 26 | Rehabilitation as provided in established by s. 413.615. |
| 27 | (5) Of the additional fine assessed under s. 318.18(3)(f) |
| 28 | for a violation of s. 316.1303, 60 percent must be remitted to |
| 29 | the Department of Revenue and transmitted monthly to for deposit |
| 30 | in the endowment fund for the Florida Endowment Foundation for |
| 31 | Vocational Rehabilitation, and 40 percent must be distributed |
| 32 | pursuant to subsections (1) and (2) of this section. |
| 33 | Section 2. Subsection (4) of section 413.615, Florida |
| 34 | Statutes, is amended to read: |
| 35 | 413.615 Florida Endowment for Vocational Rehabilitation.- |
| 36 | (4) REVENUE FOR THE ENDOWMENT FUND.- |
| 37 | (a) The endowment fund of the Florida Endowment for |
| 38 | Vocational Rehabilitation is created as a long-term, stable, and |
| 39 | growing source of revenue to be administered, in accordance with |
| 40 | rules promulgated by the division, by the foundation as a |
| 41 | direct-support organization of the division. |
| 42 | (b) The principal of the endowment fund shall derive from |
| 43 | the deposits made pursuant to s. 318.21(2)(e), together with any |
| 44 | legislative appropriations which may be made to the endowment, |
| 45 | and such bequests, gifts, grants, and donations as may be |
| 46 | solicited for such purpose by the foundation from public or |
| 47 | private sources. |
| 48 | (c) All funds remitted to the Department of Revenue |
| 49 | pursuant to s. 318.21(2)(e) and (5) shall be transmitted monthly |
| 50 | to the foundation for use as provided in subsection (10). All |
| 51 | remaining balances of funds held for investment and reinvestment |
| 52 | by the State Board of Administration for the endowment fund on |
| 53 | the effective date of this act shall be transmitted to the |
| 54 | foundation within 60 days for use as provided in subsection |
| 55 | (10). The State Board of Administration shall invest and |
| 56 | reinvest moneys of the endowment fund in accordance with the |
| 57 | provisions of ss. 215.44-215.53. Moneys in the endowment fund in |
| 58 | excess of the endowment fund principal, or such lesser amount as |
| 59 | may be requested in writing by the foundation, shall be annually |
| 60 | transmitted to the foundation, based upon a fiscal year which |
| 61 | shall run from July 1 through June 30, and shall be deposited in |
| 62 | the foundation's operating account, for distribution as provided |
| 63 | in subsection (10). The endowment fund principal shall be $1 |
| 64 | million for the 2000-2001 fiscal year and shall be increased by |
| 65 | 5 percent in each subsequent fiscal year. |
| 66 | (d) The board of directors of the foundation shall |
| 67 | establish the operating account and shall deposit therein the |
| 68 | moneys transmitted pursuant to paragraph (c). Moneys in the |
| 69 | operating account shall be available to carry out the purposes |
| 70 | of subsection (10). |
| 71 | Section 3. This act shall take effect July 1, 2011. |
