FL S7024

Repeals section 121.153, Florida Statutes, which restricted investments in institutions doing business in or with Northern Ireland.

Establishes that upon Fund B Surplus Funds Trust Fund self-liquidation, any residual balance after returning original principal and paying liquidation expenses shall be transferred to eligible participants in the Local Government Surplus Funds Trust Fund.

Specifies that residual balance payments shall go to participants who were entitled to but did not receive November 2007 interest payments, with amounts calculated based on each participant's proportional share of unpaid November 2007 interest.

Requires any income received after residual balance distribution to be deposited in the Local Government Surplus Funds Trust Fund rather than transferred at trustees' discretion.

Takes effect July 1, 2015.