House Bill hb1499

    Florida House of Representatives - 2002                HB 1499

        By Representative Greenstein






  1                      A bill to be entitled

  2         An act relating to trust funds; creating s.

  3         24.1127, F.S.; creating the Video Lottery

  4         Administrative Trust Fund within the Department

  5         of the Lottery; providing for source of moneys

  6         and purposes; providing for annual carryforward

  7         of funds; providing for future review and

  8         termination or re-creation of the trust fund;

  9         providing a contingent effective date.

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11  Be It Enacted by the Legislature of the State of Florida:

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13         Section 1.  Section 24.1127, Florida Statutes, is

14  created to read:

15         24.1127  Video Lottery Administrative Trust Fund.--

16         (1)  The Video Lottery Administrative Trust Fund is

17  hereby created, to be administered by the Department of the

18  Lottery. Funds shall be credited to and distributed from the

19  trust fund as provided in s. 24.1121, to be used for the

20  purposes specified in that section.

21         (2)  Notwithstanding the provisions of s. 216.301 and

22  pursuant to s. 216.351, any balance in the trust fund at the

23  end of any fiscal year shall remain in the trust fund at the

24  end of the year and shall be available for carrying out the

25  purposes of the trust fund.

26         (3)  Pursuant to the provisions of s. 19(f)(2), Art.

27  III of the State Constitution, the trust fund shall, unless

28  terminated sooner, be terminated on July 1, 2006. However,

29  prior to its scheduled termination, the trust fund shall be

30  reviewed as provided in s. 215.3206(1) and (2).

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






    Florida House of Representatives - 2002                HB 1499

    706-144-02






  1         Section 2.  This act shall take effect July 1, 2002, if

  2  House Bill ___ or similar legislation is adopted in the same

  3  legislative session or an extension thereof and becomes law.

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  6                          HOUSE SUMMARY

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      Creates the Video Lottery Administrative Trust Fund
  8    within the Department of the Lottery, and provides for
      its source of moneys and purposes. Provides for annual
  9    carryforward of funds. Provides for future review and
      termination or re-creation of the trust fund.
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CODING: Words stricken are deletions; words underlined are additions.