FL S0644

Creates the Florida ABLE Program Trust Fund within the State Board of Administration to manage funds for the Florida ABLE program.

Fund sources include state appropriations, moneys from governmental or private sources, and remittances under participation agreements, with assets used solely for the Florida ABLE program purposes.

Fund balances carry forward annually and may be invested under section 215.47, exempt from standard state investment requirements; assets cannot be loaned or transferred for uses outside the Florida ABLE program.

Fund expenditures prioritize payments to designated beneficiaries, followed by program administration and operational costs as specified by Florida ABLE, Inc.

Trust fund terminates 4 years after the act's effective date unless terminated sooner, subject to review under section 215.3206 prior to scheduled termination.