A trust fund may be created by law only by the Legislature and only if passed by a three-fifths vote of the membership of each house in a separate bill for that purpose only. Except for trust funds being re-created by the Legislature, each trust fund must be created by statutory language that specifies at least the following: (1) The name of the trust fund. (2) The agency or branch of state government responsible for administering the trust fund. (3) The requirements or purposes that the trust fund is established to meet. (4) The sources of moneys to be credited to the trust fund or specific sources of receipts to be deposited in the trust fund.
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