Florida Senate - 2015 SB 2522-A
By Senator Lee
24-00018-15A 20152522A__
1 A bill to be entitled
2 An act relating to trust funds; creating s. 20.106,
3 F.S.; creating the Land Acquisition Trust Fund within
4 the Department of State; providing for the purpose of
5 the trust fund and sources of funds; requiring the
6 department to maintain the integrity of such funds;
7 providing for disposition of funds from reversions or
8 reductions in budget authority from the trust fund;
9 requiring that title to lands or related property
10 interests acquired be vested in the Board of Trustees
11 of the Internal Improvement Trust Fund; requiring the
12 department or its designee to manage lands or related
13 property interests in accordance with the purposes set
14 forth in s. 28, Art. X of the State Constitution;
15 providing a restriction on how funds may be invested;
16 providing for future review and termination or re
17 creation of the trust fund; providing an effective
18 date.
19
20 Be It Enacted by the Legislature of the State of Florida:
21
22 Section 1. Section 20.106, Florida Statutes, is created to
23 read:
24 20.106 Land Acquisition Trust Fund.—
25 (1) The Land Acquisition Trust Fund is created within the
26 Department of State. The trust fund is established for use as a
27 depository for funds received from the Land Acquisition Trust
28 Fund within the Department of Environmental Protection and for
29 expenditure of such funds for the purposes set forth in s. 28,
30 Art. X of the State Constitution.
31 (2) The Department of State must maintain the integrity of
32 such moneys transferred from the Department of Environmental
33 Protection. Any transferred moneys available from reversions or
34 reductions in budget authority shall be transferred back to the
35 Land Acquisition Trust Fund within the Department of
36 Environmental Protection within 15 days after such reversion or
37 reduction and shall be available for future appropriation for
38 the purposes set forth in s. 28, Art. X of the State
39 Constitution.
40 (3) If expenditures from the trust fund will result in
41 state ownership of land or related property interests, title
42 shall be vested in the Board of Trustees of the Internal
43 Improvement Trust Fund as required under chapter 253. Such
44 acquisition of land or related property interests shall be by
45 voluntary, negotiated acquisition and, if title is to be vested
46 in the Board of Trustees of the Internal Improvement Trust Fund,
47 is subject to the acquisition procedures of s. 253.025.
48 Acquisition costs include purchase prices and costs and fees
49 associated with title work, surveys, and appraisals required to
50 complete an acquisition. The Department of State or its designee
51 shall manage such lands or related property interests in
52 accordance with the purposes set forth in s. 28, Art. X of the
53 State Constitution. Other uses, not contrary to such purposes,
54 may be authorized.
55 (4) Moneys in the trust fund may not be invested as
56 provided in s. 17.61, but shall be retained in the trust fund
57 for investment with interest appropriated to the General Revenue
58 Fund as provided in s. 17.57.
59 (5) In accordance with s. 19(f)(2), Art. III of the State
60 Constitution, the Land Acquisition Trust Fund within the
61 Department of State shall, unless terminated sooner, be
62 terminated on July 1, 2019. Before its scheduled termination,
63 the trust fund shall be reviewed as provided in s. 215.3206.
64 Section 2. This act shall take effect July 1, 2015.