Senate Bill sb1980c1

    Florida Senate - 2003                           CS for SB 1980

    By the Committee on Regulated Industries; and Senators Diaz de
    la Portilla and Geller




    315-2006-03

  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  created, to be administered by the Department of the Lottery.

18  Funds shall be credited to and distributed from the trust fund

19  as provided in s. 24.127, to be used for the purposes

20  specified in that section.

21         (2)  Notwithstanding s. 216.301 and pursuant to s.

22  216.351, any balance in the trust fund at the end of any

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

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

25  the trust fund.

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

27  Constitution, the trust fund shall, unless terminated sooner,

28  be terminated on July 1, 2007. However, prior to its scheduled

29  termination, the trust fund shall be reviewed as provided in

30  s. 215.3206(1) and (2).

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    Florida Senate - 2003                           CS for SB 1980
    315-2006-03




 1         Section 2.  This act shall take effect July 1, 2003, if

 2  Committee Substitute for Senate Bill 1920 or similar

 3  legislation is adopted in the same legislative session or an

 4  extension thereof and becomes law.

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 6          STATEMENT OF SUBSTANTIAL CHANGES CONTAINED IN
                       COMMITTEE SUBSTITUTE FOR
 7                             SB 1980

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 9  The Committee Substitute creates the Video Lottery
    Administrative Trust Fund to be administered by the Department
10  of the Lottery.  Funds credited to the trust fund shall be
    used for the purpose of implementing the distribution of
11  proceeds from video lottery games authorized in s. 24.127,
    F.S., as provided in CS/SB  1920.  It provides for retention
12  of balances and provides for review and termination of the
    trust fund.  The effective date is contingent upon passage of
13  CS/SB 1920 or similar legislation.

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