HB 0241 2003
1	A bill to be entitled
2	An act relating to the state lottery; amending ss. 24.115,
3	24.121, and 1010.70, F.S.; providing that all unclaimed
4	prize money shall be deposited in the Educational
5	Enhancement Trust 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 24.115, Florida
10	Statutes, is amended to read:
11	24.115 Payment of prizes.--
12	(2) All unclaimed prize money shall bedeposited in the
13	Educational Enhancement Trust Fund as provided in s. 24.121
14	added to the pool from which future prizes are to be awarded or
15	used for special prize promotions.
16	Section 2. Subsection (2) of section 24.121, Florida
17	Statutes, is amended to read:
18	24.121 Allocation of revenues and expenditure of funds for
19	public education.--
20	(2) Each fiscal year, at least 38 percent of the gross
21	revenue from the sale of on-line lottery tickets, variable
22	percentages of the gross revenue from the sale of instant
23	lottery tickets as determined by the department consistent with
24	subsection (1),all unclaimed prize money,and other earned
25	revenue, excluding application processing fees, shall be
26	deposited in the Educational Enhancement Trust Fund, which is
27	hereby created in the State Treasury to be administered by the
28	Department of Education. The Department of the Lottery shall
29	transfer moneys to the Educational Enhancement Trust Fund at
30	least once each quarter. Funds in the Educational Enhancement
31	Trust Fund shall be used to the benefit of public education in
32	accordance with the provisions of this act. Notwithstanding any
33	other provision of law, a maximum of $180 million of lottery
34	revenues transferred to the Educational Enhancement Trust Fund
35	in fiscal year 1997-1998 and for 30 years thereafter shall be
36	reserved as needed and used to meet the requirements of the
37	documents authorizing the bonds issued by the state pursuant to
38	s. 1013.68 or s. 1013.70 or distributed to school districts for
39	the Classrooms First Program as provided in s. 1013.68. Such
40	lottery revenues are hereby pledged to the payment of debt
41	service on bonds issued by the state pursuant to s. 1013.68 or
42	s. 1013.70. Debt service payable on bonds issued by the state
43	pursuant to s. 1013.68 or s. 1013.70 shall be payable from the
44	first lottery revenues transferred to the Educational
45	Enhancement Trust Fund in each fiscal year. Amounts
46	distributable to school districts that request the issuance of
47	bonds pursuant to s. 1013.68(3) are hereby pledged to such bonds
48	pursuant to s. 11(d), Art. VII of the State Constitution. The
49	amounts distributed through the Classrooms First Program shall
50	equal $145 million in each fiscal year. These funds are intended
51	to provide up to $2.5 billion for public school facilities.
52	Section 3. Section 1010.70, Florida Statutes, is amended
53	to read:
54	1010.70 Educational Enhancement Trust Fund.--Each fiscal
55	year, at least 38 percent of the gross revenue from the sale of
56	lottery tickets, all unclaimed prize money,and other earned
57	revenue, excluding application processing fees, shall be
58	deposited in the Educational Enhancement Trust Fund as provided
59	in s. 24.121.
60	Section 4. This act shall take effect July 1, 2003.
61