Bill Text: FL H7137 | 2010 | Regular Session | Introduced

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Bill Title: Transportation Revenue Bond Trust Fund/DOT

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2010-03-24 - Placed on Special Order Calendar; Substituted SB 1632; Laid on Table, companion bill(s) passed, see SB 1632 (Ch. 2010-14) -HJ 00389 [H7137 Detail]

Download: Florida-2010-H7137-Introduced.html

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HB 7137

1	A bill to be entitled
2	An act relating to trust funds; reenacting and amending s.
3	339.0815, F.S., relating to the Transportation Revenue
4	Bond Trust Fund; providing for future review and
5	termination or re-creation of the trust fund; providing a
6	contingent effective date.
7
8	Be It Enacted by the Legislature of the State of Florida:
9
10	Section 1. Section 339.0815, Florida Statutes, is
11	reenacted and amended to read:
12	339.0815 Transportation Revenue Bond Trust Fund.-
13	(1) The Transportation Revenue Bond Trust Fund is created
14	within the Department of Transportation. The purpose of the
15	trust fund is for the deposit of funds received by the
16	department from the proceeds or issuance of revenue bonds
17	secured by state and federal revenues and credited to the trust
18	fund.
19	(2) Net proceeds from revenue bonds issued for eligible
20	transportation projects shall be credited to the trust fund to
21	provide for the payment of eligible project costs.
22	(3) Notwithstanding the provisions of s. 216.301 and
23	pursuant to the requirements of s. 216.351, any balance in the
24	trust fund at the end of any fiscal year shall remain in the
25	trust fund at the end of the year and shall be available for
26	carrying out the purposes of the trust fund.
27	(4) In accordance with s. 19(f)(2), Art. III of the State
28	Constitution, the Transportation Revenue Bond Trust Fund shall,
29	unless terminated sooner, be terminated on July 1, 2014. Before
30	its scheduled termination, the trust fund shall be reviewed as
31	provided in s. 215.3206(1) and (2).
32	Section 2. This act shall take effect July 1, 2010, but it
33	shall not take effect unless it is enacted by a three-fifths
34	vote of the membership of each house of the Legislature.

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