Loading chat...
FL H0765
Bill
Status
Failed
4/30/2021
Primary Sponsor
Linda Chaney
Click for details
AI Summary
- Requires the Chief Financial Officer to certify by October 31 each year the amount of unencumbered and undisbursed Tobacco Settlement Trust Fund balances that revert to the Lawton Chiles Endowment Fund's principal
- Directs the Chief Financial Officer to transfer 50% of the certified reverted balance (excluding the Biomedical Research Trust Fund) by warrant to the University of South Florida's board of trustees by December 1 each year
- Requires the USF board of trustees to prioritize spending the transferred funds on cardiovascular disease research at the USF Health Heart Institute, with additional allowable uses including recruiting, retaining, and equipping cardiovascular researchers and other lawful purposes under the university's Education and General Activities appropriation
- Prohibits the USF board of trustees from pledging any funds received under this provision to secure debt
- Requires the Chief Financial Officer to notify the USF board of trustees by December 1 if no reverted balance exists in a given year, meaning no transfer will occur; effective date of July 1, 2021
Legislative Description
Lawton Chiles Endowment Fund
Last Action
Died in Appropriations Committee
4/30/2021
Committee Referrals
Appropriations2/18/2021
Full Bill Text
No bill text available