Title: Trust Funds/Internal Revenue Service Civil Liability Trust Fund/DFS

Summary: Creates Internal Revenue Service Civil Liability Trust Fund within DFS; provides sources of funds; specifies purpose of trust fund; exempts trust fund from termination.

Full Text:
An act relating to the Internal Revenue Service Civil Liability Trust Fund; creating s. 17.44, F.S.; creating the Internal Revenue Service Civil Liability Trust Fund within the Department of Financial Services; providing sources of funds; specifying the purpose of the trust fund; requiring any balance in the trust fund at the end of the fiscal year to remain in the trust fund; exempting the trust fund from termination; providing a contingent effective date. Be It Enacted by the Legislature of the State of Florida: Section 1. Section 17.44, Florida Statutes, is created to read: 17.44 Internal Revenue Service Civil Liability Trust Fund.-(1) The Interna lRevenue Service Civil Liability Trust Fund is created within the department. (2) Funds shall be credited to the trust fund from legislative appropriations and interest earnings. (3) The trust fund shall be maintained and utilized for the sole purpose of reimbursement of reasonable attorney fees and costs incurred by a small business owner pursuant to s. 17.45. HB 2023 (4) Notwithstanding s. 216.301 and pursuant to s. 216.351, any balance in the trust fund at the end of the fiscal year shall remain in the tr ust fund and shall be available for carrying out the purpose of the trust fund. (5) Pursuant to s. 19(f)(3), Art. III of the State Constitution, the trust fund is exempt from termination pursuant to s. 19(f)(2), Art. III of the State Constitution. Section 2. This act shall take effect on the same date that HB or similar legislation takes effect,if such legislation is adopted in the same legislative session or an extension thereof and becomes a law.