FL H0913

Repeals section 121.153, Florida Statutes, relating to investment restrictions on institutions doing business in or with Northern Ireland.

Amends section 218.421 to clarify distribution of residual balances from the Fund B Surplus Funds Trust Fund to Local Government Surplus Funds Trust Fund participants who were entitled to but did not receive November 2007 interest payments.

Specifies that residual balance distributions to eligible participants shall be based on each participant's proportional share of the total November 2007 interest that was not disbursed but transferred to maximize principal repayment.

Provides that any income received by the State Board of Administration from trust fund investments after residual balances are distributed shall be deposited into the Local Government Surplus Funds Trust Fund, with remaining reserves at trustee discretion.

Effective date: July 1, 2015.