FL S0580

Creates the Land Acquisition Trust Fund within the Department of State to receive and hold funds transferred from the Department of Environmental Protection for land acquisition purposes under Article X, Section 28 of the State Constitution.

Requires the Department of State to maintain the integrity of transferred funds and return any reversions or budget reductions to the Department of Environmental Protection within 15 days for future appropriation.

Mandates that title to any acquired land or related property interests be vested in the Board of Trustees of the Internal Improvement Trust Fund, with acquisitions limited to voluntary, negotiated purchases including costs for title work, surveys, and appraisals.

Restricts investment of trust fund moneys to retain funds in the trust fund account with interest appropriated to the General Revenue Fund, rather than allowing investment under standard state investment procedures.

Schedules the trust fund for termination on July 1, 2019, unless terminated sooner, with mandatory review before the scheduled termination date.