16433660, 19-7.002 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 16433660

Notice of Development of Rulemaking

Department:

STATE BOARD OF ADMINISTRATION

Chapter:

RULES AND REGULATIONS GOVERNING THE ADMINISTRATION OF THE LOCAL GOVERNMENT SURPLUS FUNDS TRUST FUND

Overview

RULE:

19-7.002

Investment Policy Statements

PURPOSE:

To adopt the revised Investment Policy Statement for the Local Government Surplus Funds Trust Fund approved by the Trustees on June 23, 2015 and effective July 1, 2015. The amendments also delete the reference to the Investment Policy Statement for the Fund B Surplus Funds Trust Fund (Non-Qualified). The Fund B Surplus Funds Trust Fund is in the final stages of being terminated, as participants have received a return of their original principal balances, as well as a portion of Fund B’s residual balance that is based on each participant’s proportional share of the total November 2007 interest earned by all participants in the Local Government Surplus Funds Trust Fund that was not paid out but instead was transferred to this trust fund to maximize the payout of principal..

SUBJECT:

The most recent version of the Investment Policy Statement for the Local Government Surplus Funds Trust Fund is being adopted and the reference to the Investment Policy Statement for the Fund B Surplus Funds Trust Fund (Non-Qualified) is being removed. .

RULEMAKING AUTHORITY:

218.412, 218.421(1), FS.

LAW:

218.405(1), (2), (3), (4), 218.409(2), (9), 218.415(17) , 218.418, 218.421(2), FS.

PRINT PUBLISH DATE:

9/3/2015 Vol. 41/172

RELATED STATUTES
AND LAWS:

218.412, 218.421(1), FS., 218.405(1), (2), (3), (4), 218.409(2), (9), 218.415(17) , 218.418, 218.421(2), FS.

OVERSIGHT COMMITTEE:

Joint Administrative Procedures Committee
Florida Administrative Law Central Online Network (F.A.L.C.O.N.)

RELATED COURT CASES:

Division of Administrative Hearings

FEDERAL eRULEMAKING
WEB PORTAL:

Regulations.gov

HOW TO LINK TO
THIS NOTICE:

http://flrules.org/gateway/ruleno.asp?id=19-7.002&PDate=9/3/2015&Section=1

REFERENCE MATERIALS:

Ref-05858 Investment Policy Statement- Florida PRIME

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