PUB 700694: Funding for Florida Forever Through the Land Acquisition Trust Fund by Charles Deutsch

ARTICLE X: MISCELLANEOUS, Section 28. Land Acquisition Trust Fund.

1. Effective on July 1 of the year following passage of this amendment by the voters, and for a period of 20 years after that effective date, the Land Acquisition Trust Fund shall receive no less than 33 percent of net revenues derived from the existing excise tax on documents, as defined in the statutes in effect on January 1, 2012, as amended from time to time, or any successor or replacement tax, after the Department of Revenue first deducts a service charge to pay the costs of the collection and enforcement of the excise tax on documents.
2. Funds in the Land Acquisition Trust Fund shall be expended only for the following purposes:
   1. As provided by law, to finance or refinance: the acquisition and improvement of land, water areas, and related property interests, including conservation easements, and resources for conservation lands including wetlands, forests, and fish and wildlife habitat; wildlife management areas; lands that protect water resources and drinking water sources, including lands protecting the water quality and quantity of rivers, lakes, streams, springsheds, and lands providing recharge for groundwater and aquifer systems; lands in the Everglades Agricultural Area and the Everglades Protection Area, as defined in Article II, Section 7(b); beaches and shores; outdoor recreation lands, including recreational trails, parks, and urban open space; rural landscapes; working farms and ranches; historic or geologic sites; together with management, restoration of natural systems, and the enhancement of public access or recreational enjoyment of conservation lands.
   2. At least $300 million or one-third of the net annual revenues of the Land Acquisition Trust Fund, whichever is greater, shall be directed to the Florida Forever program annually and dedicated exclusively for fee-simple acquisition of or permanent conservation easements on environmentally sensitive and conservation lands from willing owners.
   3. To pay the debt service on bonds issued pursuant to Article VII, Section 11(e).
3. The moneys deposited into the Land Acquisition Trust Fund, as defined by the statutes in effect on January 1, 2012, shall not be or become commingled with the general revenue fund of the state.