Senate Bill 2520 (2022) — Trust funds

SB 2520

Florida Bills

Florida Senate - 2022 SB 2520 By the Committee on Appropriations 576-02893-22 20222520__ Page 1 of 2 CODING: Words stricken are deletions; words underlined are additions. A bill to be entitled 1

An act relating to trust funds; creating s. 17.42, 2 F.S.; creating the Department of Financial Services 3 Opioid Settlement Clearing Trust Fund; providing for 4 sources of moneys; providing an exemption from 5 specified service charges; providing for the use of 6 such moneys; providing for disbursement of funds to 7 the opioid settlement trust funds of the various 8 agencies; prohibiting the investment of such moneys; 9 exempting the trust fund from constitutional 10 termination; providing an effective date. 11 12 Be It Enacted by the Legislature of the State of Florida: 13 14

Section

Section 17.42, Florida Statutes, is created to 15 read: 16 17.42 Department of Financial Services Opioid Settlement 17 Clearing Trust Fund.— 18

(1) The Department of Financial Services Opioid Settlement 19 Clearing Trust Fund is created within the department. 20

(2) Funds to be credited to the Opioid Settlement Clearing 21 Trust Fund shall consist of payments received by the state from 22 settlements reached with distributors as part of In re 23 Mallinckrodt PLC, No. 20-12522 (JTD) (Bankr. D. Del.) and any 24 other such similar settlements in opioid-related litigation or 25 bankruptcy. Moneys received from such settlements and deposited 26 into the trust fund are exempt from the service charges imposed 27 under s. 215.20. 28

(3) Monies disbursed or transferred from the Opioid 29 Florida Senate - 2022 SB 2520 576-02893-22 20222520__ Page 2 of 2 CODING: Words stricken are deletions; words underlined are additions. Settlement Clearing Trust Fund must be used by the state, its 30 agencies, its contractors, and its subdivisions and their 31 contractors in accordance with any applicable settlement 32 agreement. 33

(4) The department shall disburse funds by nonoperating 34 transfer from the Opioid Settlement Clearing Trust Fund to the 35 opioid settlement trust funds of the various age ncies, as 36 appropriate, in amounts equal to the annual appropriations made 37 from those agencies’ trust funds in the General Appropriations 38 Act. 39

(5) Moneys in the fund may not be invested pursuant to s. 40 17.61. Moneys shall be retained in the trust fund for 41 investment. Any gains, profits, or interests accrued shall be 42 deposited or retained in the trust fund. 43

(6) Pursuant to s. 19(f)(3), Art. III of the State 44 Constitution, the Opioid Settlement Clearing Trust Fund is 45 exempt from the termination provisions of s. 19(f)(2), Art. III 46 of the State Constitution. 47

Section 2. This act shall take effect upon becoming a law. 48

Document details

Collection	Florida Bills
Citation	SB 2520
Type	bill
Language	en
Format	pdf
Source	FL_SENATE
Identifier	5c143650e5ae697e313a2a4d3ee506e4dfaf68cf

Source file is stored in the law ingest library (pdf).