This rule merely indicates that the rules set forth in Rule Chapter 19-7, F.A.C. apply to the Local Government Surplus Funds Trust Fund. That information is self-evident from the various rules themselves. Further, this rule does not meet the ...

 

STATE BOARD OF ADMINISTRATION

RULE NO.:RULE TITLE:

19-7.010Pooled Investment Accounts

PURPOSE AND EFFECT: This rule merely indicates that the rules set forth in Rule Chapter 19-7, F.A.C. apply to the Local Government Surplus Funds Trust Fund. That information is self-evident from the various rules themselves. Further, this rule does not meet the definition of a rule set forth in Section 120.52(16), Florida Statutes. As such, this rule no longer is required.

SUMMARY: To repeal a rule that merely states that the rules set forth in Rule Chapter 19-7, F.A.C. apply to the Local Government Surplus Funds Trust Fund. This information is obvious from the rules themselves. As such, this particular rule, while not any harm, can be repealed as unnecessary. There are no other rules incorporating this repealed rule. The proposed repeal does not have an impact on any other rules. Legislative ratification of the rule repeal is not required.

SUMMARY OF STATEMENT OF ESTIMATED REGULATORY COSTS AND LEGISLATIVE RATIFICATION: The Agency has determined that this will not have an adverse impact on small business or likely increase directly or indirectly regulatory costs in excess of $200,000 in the aggregate within one year after the implementation of the rule. A SERC has not been prepared by the Agency.

The Agency has determined that the proposed rule repeal is not expected to require legislative ratification based on the statement of estimated regulatory costs or if no SERC is required, the information expressly relied upon and described herein: There will be no impact on economic growth, job creation or employment, private-sector investment, or business competitiveness, and no increase in regulatory costs caused by the repeal of this rule.

Any person who wishes to provide information regarding a statement of estimated regulatory costs, or provide a proposal for a lower cost regulatory alternative must do so in writing within 21 days of this notice.

RULEMAKING AUTHORITY: 218.412 FS.

LAW IMPLEMENTED: Chapter 218, Part IV, FS

IF REQUESTED WITHIN 21 DAYS OF THE DATE OF THIS NOTICE, A HEARING WILL BE HELD AT THE DATE, TIME AND PLACE SHOWN BELOW (IF NOT REQUESTED, THIS HEARING WILL NOT BE HELD):

DATE AND TIME: Wednesday, September 2, 2015, 9:00 a.m. – 11:00 a.m.

PLACE: Hermitage Room, the Hermitage Centre, 1801 Hermitage Blvd., Tallahassee, Florida 32308

Pursuant to the provisions of the Americans with Disabilities Act, any person requiring special accommodations to participate in this workshop/meeting is asked to advise the agency at least 5 hours before the workshop/meeting by contacting: Tina Joanos, Agency Clerk, Office of the General Counsel, State Board of Administration, 1801 Hermitage Blvd., Tallahassee, Florida 32308, [phone], [e-mail]. If you are hearing or speech impaired, please contact the agency using the Florida Relay Service, 1(800)955-8771 (TDD) or 1(800)955-8770 (Voice).

THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Ruth A. Smith, Assistant General Counsel, State Board of Administration, 1801 Hermitage Blvd., Tallahassee, Florida 32308, [phone], [e-mail]

 

THE FULL TEXT OF THE PROPOSED RULE IS:

 

19-7.010 Pooled Investment Accounts.

Rulemaking Authority 218.405, 218.412 FS. Law Implemented Chapter 218, Part IV FS. History–New 8-24-82, Formerly 19-7.10, Amended 3-26-02, 9-5-10. Repealed __________.

 

NAME OF PERSON ORIGINATING PROPOSED RULE: Michael McCauley

NAME OF AGENCY HEAD WHO APPROVED THE PROPOSED RULE: Trustees of the State Board of Administration.

DATE PROPOSED RULE APPROVED BY AGENCY HEAD: August 5, 2015