FL H0937

Creates the Florida ABLE Trust Fund within the State Board of Administration, funded by appropriations, governmental or private sources, and participation agreement payments.

Assets in the trust fund may only be expended for the Florida ABLE program and are exempt from section 17.57 investment requirements; may be invested pursuant to section 215.47.

Restricts use of trust fund assets solely for the Florida ABLE program and prohibits the state from loaning, transferring, or using assets for other purposes, though Florida ABLE, Inc. may invest in state bonds or obligations.

Establishes priority for asset expenditure: first for payments to designated beneficiaries, then for administration and operations costs of the Florida ABLE program.

Terminates the trust fund on October 1, 2019, unless terminated sooner, with review required before scheduled termination; takes effect contingent on passage of HB 935 or similar legislation by three-fifths vote in both houses.