Bill Text: FL S1634 | 2010 | Regular Session | Comm Sub
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Transportation Governmental Bond Trust Fund/DOT [WPSC]
Spectrum: Partisan Bill (Republican 1-0)
Status: (Passed) 2010-04-15 - Approved by Governor -SJ 00617; Chapter No. 2010-15 [S1634 Detail]
Download: Florida-2010-S1634-Comm_Sub.html
Bill Title: Transportation Governmental Bond Trust Fund/DOT [WPSC]
Spectrum: Partisan Bill (Republican 1-0)
Status: (Passed) 2010-04-15 - Approved by Governor -SJ 00617; Chapter No. 2010-15 [S1634 Detail]
Download: Florida-2010-S1634-Comm_Sub.html
Florida Senate - 2010 CS for SB 1634 By the Committee on Transportation and Economic Development Appropriations; and Senator Fasano 606-02442-10 20101634c1 1 A bill to be entitled 2 An act relating to trust funds; creating the 3 Transportation Governmental Bond Trust Fund within the 4 Department of Transportation; providing for the 5 purpose of the trust fund and sources of funds; 6 providing for future review and termination or re 7 creation of the trust fund; providing a contingent 8 effective date. 9 10 Be It Enacted by the Legislature of the State of Florida: 11 12 Section 1. Transportation Governmental Bond Trust Fund.— 13 (1) The Transportation Governmental Bond Trust Fund is 14 created within the Department of Transportation. The purpose of 15 the trust fund is for the deposit of funds received from the 16 proceeds upon issuance of bonds. 17 (2) Net proceeds from bonds issued for eligible 18 transportation projects shall be credited to the trust fund to 19 provide for the payment of eligible project costs. 20 (3) In accordance with s. 19(f)(2), Article III of the 21 State Constitution, the Transportation Governmental Bond Trust 22 Fund shall, unless terminated sooner, be terminated on July 1, 23 2014. Before its scheduled termination, the trust fund shall be 24 reviewed as provided in s. 215.3206(1) and (2), Florida 25 Statutes. 26 Section 2. This act shall take effect July 1, 2010, but 27 this act shall not take effect unless it is enacted by a three 28 fifths vote of the membership of each house of the Legislature.