HB 1841 2003
1	A bill to be entitled
2	An act relating to the Educational Enhancement Trust Fund;
3	amending ss. 24.121 and 1010.70, F.S.; increasing amounts
4	to be deposited into the Educational Enhancement Trust
5	Fund; providing an effective date.
6
7	Be It Enacted by the Legislature of the State of Florida:
8
9	Section 1. Subsection (2) of section 24.121, Florida
10	Statutes, is amended to read:
11	24.121 Allocation of revenues and expenditure of funds for
12	public education.--
13	(2) Each fiscal year, at least 3938percent of the gross
14	revenue from the sale of on-line lottery tickets, variable
15	percentages of the gross revenue from the sale of instant
16	lottery tickets as determined by the department consistent with
17	subsection (1), and other earned revenue, excluding application
18	processing fees, shall be deposited in the Educational
19	Enhancement Trust Fund, which is hereby created in the State
20	Treasury to be administered by the Department of Education. The
21	Department of the Lottery shall transfer moneys to the
22	Educational Enhancement Trust Fund at least once each quarter.
23	Funds in the Educational Enhancement Trust Fund shall be used to
24	the benefit of public education in accordance with the
25	provisions of this act. Notwithstanding any other provision of
26	law, a maximum of $180 million of lottery revenues transferred
27	to the Educational Enhancement Trust Fund in fiscal year 1997-
28	1998 and for 30 years thereafter shall be reserved as needed and
29	used to meet the requirements of the documents authorizing the
30	bonds issued by the state pursuant to s. 1013.68 or s. 1013.70
31	or distributed to school districts for the Classrooms First
32	Program as provided in s. 1013.68. Such lottery revenues are
33	hereby pledged to the payment of debt service on bonds issued by
34	the state pursuant to s. 1013.68 or s. 1013.70. Debt service
35	payable on bonds issued by the state pursuant to s. 1013.68 or
36	s. 1013.70 shall be payable from the first lottery revenues
37	transferred to the Educational Enhancement Trust Fund in each
38	fiscal year. Amounts distributable to school districts that
39	request the issuance of bonds pursuant to s. 1013.68(3) are
40	hereby pledged to such bonds pursuant to s. 11(d), Art. VII of
41	the State Constitution. The amounts distributed through the
42	Classrooms First Program shall equal $145 million in each fiscal
43	year. These funds are intended to provide up to $2.5 billion for
44	public school facilities.
45	Section 2. Section 1010.70, Florida Statutes, is amended
46	to read:
47	1010.70 Educational Enhancement Trust Fund.--Each fiscal
48	year, at least 3938percent of the gross revenue from the sale
49	of lottery tickets, variable percentages of the gross revenue
50	from the sale of instant lottery tickets as determined by the
51	department,and other earned revenue, excluding application
52	processing fees, shall be deposited in the Educational
53	Enhancement Trust Fund as provided in s. 24.121.
54	Section 3. This act shall take effect July 1, 2003.