HB 0037A 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 for construction of the act in pari
6	materia with laws enacted during the 2003 Regular Session
7	of the Legislature; providing an effective date.
8
9	Be It Enacted by the Legislature of the State of Florida:
10
11	Section 1. Subsection (2) of section 24.121, Florida
12	Statutes, is amended to read:
13	24.121 Allocation of revenues and expenditure of funds for
14	public education.--
15	(2) Each fiscal year, at least 3938percent of the gross
16	revenue from the sale of on-line lottery tickets, variable
17	percentages of the gross revenue from the sale of instant
18	lottery tickets as determined by the department consistent with
19	subsection (1), and other earned revenue, excluding application
20	processing fees, shall be deposited in the Educational
21	Enhancement Trust Fund, which is hereby created in the State
22	Treasury to be administered by the Department of Education. The
23	Department of the Lottery shall transfer moneys to the
24	Educational Enhancement Trust Fund at least once each quarter.
25	Funds in the Educational Enhancement Trust Fund shall be used to
26	the benefit of public education in accordance with the
27	provisions of this act. Notwithstanding any other provision of
28	law, a maximum of $180 million of lottery revenues transferred
29	to the Educational Enhancement Trust Fund in fiscal year 1997-
30	1998 and for 30 years thereafter shall be reserved as needed and
31	used to meet the requirements of the documents authorizing the
32	bonds issued by the state pursuant to s. 1013.68 or s. 1013.70
33	or distributed to school districts for the Classrooms First
34	Program as provided in s. 1013.68. Such lottery revenues are
35	hereby pledged to the payment of debt service on bonds issued by
36	the state pursuant to s. 1013.68 or s. 1013.70. Debt service
37	payable on bonds issued by the state pursuant to s. 1013.68 or
38	s. 1013.70 shall be payable from the first lottery revenues
39	transferred to the Educational Enhancement Trust Fund in each
40	fiscal year. Amounts distributable to school districts that
41	request the issuance of bonds pursuant to s. 1013.68(3) are
42	hereby pledged to such bonds pursuant to s. 11(d), Art. VII of
43	the State Constitution. The amounts distributed through the
44	Classrooms First Program shall equal $145 million in each fiscal
45	year. These funds are intended to provide up to $2.5 billion for
46	public school facilities.
47	Section 2. Section 1010.70, Florida Statutes, is amended
48	to read:
49	1010.70 Educational Enhancement Trust Fund.--Each fiscal
50	year, at least 3938percent of the gross revenue from the sale
51	of lottery tickets, variable percentages of the gross revenue
52	from the sale of instant lottery tickets,and other earned
53	revenue, excluding application processing fees, shall be
54	deposited in the Educational Enhancement Trust Fund as provided
55	in s. 24.121.
56	Section 3. If any law amended by this act was also amended
57	by a law enacted at the 2003 Regular Session of the Legislature,
58	such laws shall be construed as if they had been enacted at the
59	same session of the Legislature, and full effect shall be given
60	to each if possible.
61	Section 4. This act shall take effect July 1, 2003.