Senate Bill sb0028A

    Florida Senate - 2003                                  SB 28-A

    By Senator Lynn





    7-2576-03

  1                      A bill to be entitled

  2         An act relating to the Educational Enhancement

  3         Trust Fund; amending ss. 24.121 and 1010.70,

  4         F.S.; increasing amounts to be deposited into

  5         the Educational Enhancement Trust Fund;

  6         providing for construction of the act in pari

  7         materia with laws enacted during the Regular

  8         Session of the Legislature; providing an

  9         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.  Subsection (2) of section 24.121, Florida

14  Statutes, as amended by chapter 2003-1, Laws of Florida, is

15  amended to read:

16         24.121  Allocation of revenues and expenditure of funds

17  for public education.--

18         (2)  Each fiscal year, at least 39 38 percent of the

19  gross revenue from the sale of on-line lottery tickets,

20  variable percentages of the gross revenue from the sale of

21  instant lottery tickets as determined by the department

22  consistent with subsection (1), and other earned revenue,

23  excluding application processing fees, shall be deposited in

24  the Educational Enhancement Trust Fund, which is hereby

25  created in the State Treasury to be administered by the

26  Department of Education. The Department of the Lottery shall

27  transfer moneys to the Educational Enhancement Trust Fund at

28  least once each quarter. Funds in the Educational Enhancement

29  Trust Fund shall be used to the benefit of public education in

30  accordance with the provisions of this act. Notwithstanding

31  any other provision of law, a maximum of $180 million of

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






    Florida Senate - 2003                                  SB 28-A
    7-2576-03




 1  lottery revenues transferred to the Educational Enhancement

 2  Trust Fund in fiscal year 1997-1998 and for 30 years

 3  thereafter shall be reserved as needed and used to meet the

 4  requirements of the documents authorizing the bonds issued by

 5  the state pursuant to s. 1013.68 or s. 1013.70 or distributed

 6  to school districts for the Classrooms First Program as

 7  provided in s. 1013.68. Such lottery revenues are hereby

 8  pledged to the payment of debt service on bonds issued by the

 9  state pursuant to s. 1013.68 or s. 1013.70. Debt service

10  payable on bonds issued by the state pursuant to s. 1013.68 or

11  s. 1013.70 shall be payable from the first lottery revenues

12  transferred to the Educational Enhancement Trust Fund in each

13  fiscal year. Amounts distributable to school districts that

14  request the issuance of bonds pursuant to s. 1013.68(3) are

15  hereby pledged to such bonds pursuant to s. 11(d), Art. VII of

16  the State Constitution. The amounts distributed through the

17  Classrooms First Program shall equal $145 million in each

18  fiscal year. These funds are intended to provide up to $2.5

19  billion for public school facilities.

20         Section 2.  Section 1010.70, Florida Statutes, is

21  amended to read:

22         1010.70  Educational Enhancement Trust Fund.--Each

23  fiscal year, at least 39 38 percent of the gross revenue from

24  the sale of lottery tickets, variable percentages of the gross

25  revenue from the sale of instant lottery tickets as determined

26  by the department, and other earned revenue, excluding

27  application processing fees, shall be deposited in the

28  Educational Enhancement Trust Fund as provided in s. 24.121.

29         Section 3.  If any law that is amended by this act was

30  also amended by a law enacted at the 2003 Regular Session of

31  the Legislature, such laws shall be construed as if they had

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    Florida Senate - 2003                                  SB 28-A
    7-2576-03




 1  been enacted during the same session of the Legislature, and

 2  full effect should be given to each if that is possible.

 3         Section 4.  This act shall take effect July 1, 2003.

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 6                          SENATE SUMMARY

 7    Increases percentage amounts of the gross revenue from
      the sale of on-line lottery tickets to be deposited by
 8    the Department of the Lottery into the Educational
      Enhancement Trust Fund.
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CODING: Words stricken are deletions; words underlined are additions.