FL S1638

Creates the Federal Grants Trust Fund within the Department of State to serve as a depository for federal grant funds and restricted program revenues from federal sources.

Fund sources include federal government grants, interest earnings, and cash advances from other trust funds, with expenditures requiring legislative appropriation or approved budget amendments under Florida law.

Establishes an automatic termination date of July 1, 2014, unless terminated sooner, with a required review before the scheduled termination date per Florida Statutes section 215.3206.

Takes effect July 1, 2010, contingent on passage by a three-fifths vote of both houses of the Legislature.