HB 0841

1
A bill to be entitled
2An act relating to the state lottery; amending s. 24.115,
3F.S.; providing for the deposit of a percentage of
4unclaimed prize money in the Educational Enhancement Trust
5Fund; authorizing use of such funds subject to
6appropriations; amending s. 24.121, F.S.; revising
7provisions relating to the allocation of revenues for
8public education; amending s. 1010.70, F.S.; conforming
9provisions; providing an effective date.
10
11Be It Enacted by the Legislature of the State of Florida:
12
13     Section 1.  Subsection (2) of section 24.115, Florida
14Statutes, is amended to read:
15     24.115  Payment of prizes.--
16(2)(a)  Eighty percent of all unclaimed prize money shall
17be deposited in the Educational Enhancement Trust Fund
18consistent with the provisions of s. 24.121(2). Subject to
19appropriations provided in the General Appropriations Act, these
20funds may be used to match private contributions received under
21the postsecondary matching grant programs established in ss.
221011.32, 1011.85, 1011.94, and 1013.79.
23(b)  The remaining 20 percent ofAll unclaimed prize money
24shall be added to the pool from which future prizes are to be
25awarded or used for special prize promotions.
26     Section 2.  Subsections (1) and (2) of section 24.121,
27Florida Statutes, are amended to read:
28     24.121  Allocation of revenues and expenditure of funds for
29public education.--
30     (1)  Variable percentages As nearly as practical, at least
3150 percent of the gross revenue from the sale of on-line and
32instant lottery tickets and variable percentages, as determined
33by the department, of the gross revenue from the sale of instant
34lottery tickets shall be returned to the public in the form of
35prizes paid by the department or retailers as authorized by this
36act. The variable percentages of gross revenue from the sale of
37on-line and instant lottery tickets returned to the public in
38the form of prizes shall be established by the department in a
39manner designed to maximize the amount of funds deposited under
40subsection (2).
41     (2)  Each fiscal year, at least 39 percent of the gross
42revenue from the sale of on-line lottery tickets, variable
43percentages of the gross revenue from the sale of on-line and
44instant lottery tickets as determined by the department
45consistent with subsection (1), and other earned revenue,
46excluding application processing fees, shall be deposited in the
47Educational Enhancement Trust Fund, which is hereby created in
48the State Treasury to be administered by the Department of
49Education. The Department of the Lottery shall transfer moneys
50to the Educational Enhancement Trust Fund at least once each
51quarter. Funds in the Educational Enhancement Trust Fund shall
52be used to the benefit of public education in accordance with
53the provisions of this act. Notwithstanding any other provision
54of law, lottery revenues transferred to the Educational
55Enhancement Trust Fund shall be reserved as needed and used to
56meet the requirements of the documents authorizing the bonds
57issued by the state pursuant to s. 1013.68, s. 1013.70, or s.
581013.737 or distributed to school districts for the Classrooms
59First Program as provided in s. 1013.68. Such lottery revenues
60are hereby pledged to the payment of debt service on bonds
61issued by the state pursuant to s. 1013.68, s. 1013.70, or s.
621013.737. Debt service payable on bonds issued by the state
63pursuant to s. 1013.68, s. 1013.70, or s. 1013.737 shall be
64payable from, and is secured by a first lien on, the first
65lottery revenues transferred to the Educational Enhancement
66Trust Fund in each fiscal year. Amounts distributable to school
67districts that request the issuance of bonds pursuant to s.
681013.68(3) are hereby pledged to such bonds pursuant to s.
6911(d), Art. VII of the State Constitution.
70     Section 3.  Section 1010.70, Florida Statutes, is amended
71to read:
72     1010.70  Educational Enhancement Trust Fund.--Each fiscal
73year, at least 39 percent of the gross revenue from the sale of
74lottery tickets, variable percentages of the gross revenue from
75the sale of on-line and instant lottery tickets as determined by
76the department, and other earned revenue, excluding application
77processing fees, shall be deposited in the Educational
78Enhancement Trust Fund as provided in s. 24.121.
79     Section 4.  This act shall take effect July 1, 2005.


CODING: Words stricken are deletions; words underlined are additions.