| 1 | A bill to be entitled |
| 2 | An act relating to the Video Lottery Purse Trust Fund; |
| 3 | creating s. 550.2631, F.S.; creating the Video Lottery |
| 4 | Purse Trust Fund within the Department of Business and |
| 5 | Professional Regulation; providing for source of moneys |
| 6 | and purposes; providing for annual carryforward of funds; |
| 7 | providing for future review and termination or re-creation |
| 8 | of the trust fund; providing a contingent effective date. |
| 9 |
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| 10 | Be It Enacted by the Legislature of the State of Florida: |
| 11 |
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| 12 | Section 1. Section 550.2631, Florida Statutes, is created |
| 13 | to read: |
| 14 | 550.2631 Video Lottery Purse Trust Fund.-- |
| 15 | (1) The Video Lottery Purse Trust Fund is created, to be |
| 16 | administered by the Department of Business and Professional |
| 17 | Regulation. Funds shall be credited to the trust fund as |
| 18 | provided in s. 24.127 to be used for the purposes specified in |
| 19 | s. 24.132. |
| 20 | (2) Notwithstanding s. 216.301 and pursuant to s. 216.351, |
| 21 | any balance in the trust fund at the end of any fiscal year |
| 22 | shall remain in the trust fund at the end of the year and shall |
| 23 | be available for carrying out the purposes of the trust fund. |
| 24 | (3) Pursuant to s. 19(f)(2), Art. III of the State |
| 25 | Constitution, the trust fund shall, unless terminated sooner, be |
| 26 | terminated on July 1, 2008. However, prior to its scheduled |
| 27 | termination, the trust fund shall be reviewed as provided in s. |
| 28 | 215.3206(1) and (2). |
| 29 | Section 2. This act shall take effect July 1, 2004, if |
| 30 | House Bill 1547 or similar legislation is adopted in the same |
| 31 | legislative session or an extension thereof and becomes law. |