Senate Bill sb1270c1

    Florida Senate - 2004                           CS for SB 1270

    By the Committee on Appropriations; and Senator Clary





    309-2350-04

  1                      A bill to be entitled

  2         An act relating to the Pari-mutuel Wagering

  3         Trust Fund; amending s. 550.135, F.S.; revising

  4         the amount of unappropriated trust fund moneys

  5         required to be transferred to the credit of the

  6         General Revenue Fund; providing an effective

  7         date.

  8  

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

10  

11         Section 1.  Subsection (2) of section 550.135, Florida

12  Statutes, is amended to read:

13         550.135  Division of moneys derived under this

14  law.--All moneys that are deposited with the Chief Financial

15  Officer to the credit of the Pari-mutuel Wagering Trust Fund

16  shall be distributed as follows:

17         (2)  All unappropriated funds in excess of $1.5 $3.5

18  million in the Pari-mutuel Wagering Trust Fund shall be

19  deposited with the Chief Financial Officer to the credit of

20  the General Revenue Fund.

21         Section 2.  This act shall take effect July 1, 2004.

22  

23          STATEMENT OF SUBSTANTIAL CHANGES CONTAINED IN
                       COMMITTEE SUBSTITUTE FOR
24                         Senate Bill 1270

25                                 

26  The committee substitute differs from the original bill by:

27  (1) decreasing the fund balance reserve retained in the
    Pari-mutuel Wagering Trust Fund in the Department of Business
28  and Professional Regulation from $3.5 million to $1.5 million;
    and,
29  
    (2) directing the transfer of an additional $2 million to the
30  General Revenue Fund on a one time basis.

31  

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