Senate Bill sb0068c1

    Florida Senate - 2003                             CS for SB 68

    By the Committee on Regulated Industries; and Senator Geller





    315-2004-03

  1                      A bill to be entitled

  2         An act relating to trust funds; creating s.

  3         550.2631, F.S.; creating the Video Lottery

  4         Purse Trust Fund within the Department of

  5         Business and Professional Regulation; providing

  6         for source of moneys and purposes; providing

  7         for annual carryforward of funds; providing for

  8         future review and termination or re-creation of

  9         the trust fund; providing a contingent

10         effective date.

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

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14         Section 1.  Section 550.2631, Florida Statutes, is

15  created to read:

16         550.2631  Video Lottery Purse Trust Fund.--

17         (1)  The Video Lottery Purse Trust Fund is created, to

18  be administered by the Department of Business and Professional

19  Regulation. Funds shall be credited to the trust fund as

20  provided in s. 24.132, to be used for the purposes specified

21  in that section.

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

23  216.351, any balance in the trust fund at the end of any

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

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

26  the trust fund.

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

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

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

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

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

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    Florida Senate - 2003                             CS for SB 68
    315-2004-03




 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 068

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 9  The Committee Substitute provides an effective date contingent
    upon passage of CS/SB 1920 or similar legislation.
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CODING: Words stricken are deletions; words underlined are additions.