Title: Trust Funds

Summary: Re-creates Florida ABLE Program Trust Fund within SBA without modification; abrogates provisions relating to termination of trust fund, to conform; provides contingent effective date.

Full Text:
WHEREAS, the Legislature wishes to extend the life of the Florida ABLE Program Trust Fund within the State Board of Administration, which is otherwise scheduled to be terminated pursuant to constitutional mandate, and WHEREAS, the Legislature has reviewed the trust fund before its scheduled termination date and has found that it continues to meet an important public purpose, and WHEREAS, the Legislature has found that existing public policy concerning the trust fund sets adequate parameters for its use, NOW, THEREFORE, Be It Enacted by the Legislature of the Stat eof Florida: Section 1. The Florida ABLE Program Trust Fund within the State Board of Administration, FLAIR number-8-538086, which is to be terminated pursuant to Section 19(f), Article III of ENROLLED CS/HB 7069 2018 Legislature the State Constitution on May 21, 2019, is re-created. Section 2. Subsection (3) of section 1009.988, Florida Statutes, is repealed. Section 3. This act shall take effect July 1, 2018,except that this act shall not take effect unless it is enacted by a three-fifths vote of the membership of each ho use of the Legislature.