Bill > H1409

This bill establishes a new Charter School Educational Facility Trust Fund within the Department of Education in Florida, which will serve as a place to hold funds specifically designated for charter schools' capital outlay, meaning funds for building or improving facilities, as outlined in a related statute. Importantly, any money left in this fund at the end of a fiscal year will not revert to the general treasury but will be carried over for future use, a provision that overrides a general law about fund balances. The bill also specifies that this trust fund will automatically terminate on July 1, 2017, unless it is reviewed and either terminated earlier or re-created by the legislature, as required by the State Constitution for trust funds.