CODING: Words stricken are deletions; words underlined are additions.House Bill 0247
Florida House of Representatives - 1997 HB 247
By Representative Fasano
1 A bill to be entitled
2 An act relating to lottery revenues; amending
3 ss. 24.115, 24.121, and 240.40, F.S.; providing
4 for deposit of unclaimed state lottery prize
5 money and a percentage of the revenue from the
6 sale of lottery tickets in the State Student
7 Financial Assistance Trust Fund; amending s.
8 240.402, F.S.; providing that such funds shall
9 be annually appropriated to fund the Florida
10 Undergraduate Scholars' Program; providing an
11 effective date.
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13 Be It Enacted by the Legislature of the State of Florida:
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15 Section 1. Subsection (2) of section 24.115, Florida
16 Statutes, 1996 Supplement, is amended to read:
17 24.115 Payment of prizes.--
18 (2) All unclaimed prize money shall be deposited in
19 the State Student Financial Assistance Trust Fund added to the
20 pool from which future prizes are to be awarded or used for
21 special prize promotions.
22 Section 2. Subsections (2) and (3) of section 24.121,
23 Florida Statutes, 1996 Supplement, are amended to read:
24 24.121 Allocation of revenues and expenditure of funds
25 for public education.--
26 (2)(a) Each fiscal year, at least 38 percent of the
27 gross revenue from the sale of lottery tickets and other
28 earned revenue, excluding application processing fees, shall
29 be deposited in the Educational Enhancement Trust Fund, which
30 is hereby created in the State Treasury to be administered by
31 the Department of Education. The Department of the Lottery
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Florida House of Representatives - 1997 HB 247
565-120-97
1 shall transfer moneys to the Educational Enhancement Trust
2 Fund at least once each quarter. Funds in the Educational
3 Enhancement Trust Fund shall be used to the benefit of public
4 education in accordance with the provisions of this act.
5 (b) Each fiscal year, at least 2 percent of the gross
6 revenue from the sale of lottery tickets and other earned
7 revenue, excluding application processing fees, shall be
8 deposited in the State Student Financial Assistance Trust
9 Fund.
10 (3) The funds remaining in the Administrative Trust
11 Fund after transfers to the Educational Enhancement Trust Fund
12 and State Student Financial Assistance Trust Fund shall be
13 used for the payment of administrative expenses of the
14 department. These expenses shall include all costs incurred
15 in the operation and administration of the lottery and all
16 costs resulting from any contracts entered into for the
17 purchase or lease of goods or services required by the
18 lottery, including, but not limited to:
19 (a) The compensation paid to retailers;
20 (b) The costs of supplies, materials, tickets,
21 independent audit services, independent studies, data
22 transmission, advertising, promotion, incentives, public
23 relations, communications, security, bonding for retailers,
24 printing, distribution of tickets, and reimbursing other
25 governmental entities for services provided to the lottery;
26 and
27 (c) The costs of any other goods and services
28 necessary for effectuating the purposes of this act.
29 Section 3. Subsection (1) of section 240.40, Florida
30 Statutes, is amended to read:
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Florida House of Representatives - 1997 HB 247
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1 240.40 State Student Financial Assistance Trust
2 Fund.--
3 (1)(a) The State Student Financial Assistance Trust
4 Fund is hereby created, to be administered by the Department
5 of Education. Funds shall be credited to the trust fund as
6 provided in the General Appropriations Act or similar
7 legislation, to be used for the purposes set forth therein.
8 (b) In addition to the funds credited to the trust
9 fund under paragraph (a), unclaimed state lottery prize money,
10 as provided in s. 24.115(2), and a percentage of the revenue
11 from the sale of lottery tickets, as provided in s.
12 24.121(2)(b), shall be deposited in the trust fund. Funds
13 deposited under this paragraph shall be accounted for
14 separately from other funds in the trust fund, and shall be
15 used for the Florida Undergraduate Scholars' Program as
16 provided in s. 240.402.
17 Section 4. Subsection (7) of section 240.402, Florida
18 Statutes, as amended by chapter 95-376, Laws of Florida, is
19 amended to read:
20 240.402 Florida Undergraduate Scholars' Program.--
21 (7) The Legislature shall appropriate, from general
22 revenue and from the Challenger Astronauts Memorial
23 Undergraduate Scholarship Trust Fund, funds to be deposited
24 into the State Student Financial Assistance Trust Fund for the
25 purpose of funding this act. In addition, the amount
26 anticipated to be deposited in the State Student Financial
27 Assistance Trust Fund from state lottery funds pursuant to s.
28 240.40(1)(b) is hereby annually appropriated to fund the
29 Florida Undergraduate Scholars' Program under this section.
30 Notwithstanding the provisions of s. 216.301 and pursuant to
31 s. 216.351, any balance in the trust fund that has been
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Florida House of Representatives - 1997 HB 247
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1 allocated to the Florida Undergraduate Scholars' Program at
2 the end of any fiscal year shall remain therein and shall be
3 available for carrying out the purposes of this section.
4 Section 5. This act shall take effect July 1, 1997.
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7 HOUSE SUMMARY
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Provides for deposit of unclaimed state lottery prize
9 money and a percentage of the revenue from the sale of
lottery tickets in the State Student Financial Assistance
10 Trust Fund and provides that such funds shall be annually
appropriated to fund the Florida Undergraduate Scholars'
11 Program.
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