2012 Florida Statutes
TITLE XIV — TAXATION AND FINANCE
Chapter 218 — FINANCIAL MATTERS PERTAINING TO POLITICAL SUBDIVISIONS
PART IV — INVESTMENT OF LOCAL GOVERNMENT SURPLUS FUNDS
218.417 — Fund B Surplus Funds Trust Fund.
218.417 Fund B Surplus Funds Trust Fund.—
(1) There is created the Fund B Surplus Funds Trust Fund within the State Board of Administration. Funds credited to the trust fund shall consist of the investments, interest earned, and reserve in Fund B of the Local Government Surplus Funds Trust Fund. Those funds shall be transferred from the Local Government Surplus Funds Trust Fund to the Fund B Surplus Funds Trust Fund within 30 days after the effective date of this act.
(2) 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 fund and be available for carrying out the purposes of the trust fund.
(3) Pursuant to the provisions of s. 19(f)(3), Art. III of the State Constitution, the Fund B Surplus Funds Trust Fund is exempt from the termination provisions of s. 19(f)(2), Art. III of the State Constitution. The trust fund shall be terminated upon self-liquidation, if not terminated sooner by law.
History.—s. 1, ch. 2008-93.
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