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FL S1920
Bill
AI Summary
- Removes the State Board of Administration's authority to invest and reinvest endowment fund moneys and eliminates the annual growth requirement of 5 percent to the $1 million principal
- Requires 2 percent of remaining civil penalties received by county courts under chapter 318 to be remitted monthly to the Department of Revenue for deposit in the endowment fund
- Directs all funds currently held by the State Board of Administration for the endowment fund to be returned to the endowment fund within a reasonable time
- Requires 60 percent of additional fines assessed for violations of traffic regulations protecting mobility-impaired persons (s. 316.1303) to be remitted monthly to the endowment fund, with 40 percent distributed according to existing statute
- Takes effect July 1, 2010
Legislative Description
Florida Endowment for Vocational Rehabilitation [EPSC]
Last Action
Died in Messages
4/30/2010
Committee Referrals
Policy & Steering Committee on Ways and Means4/9/2010
Community Affairs2/17/2010
Full Bill Text
No bill text available