Senate Bill sb0320
CODING: Words stricken are deletions; words underlined are additions.
Florida Senate - 2004 SB 320
By Senator Lynn
7-610-04 See HB 55
1 A bill to be entitled
2 An act relating to the state lottery; amending
3 s. 24.115, F.S.; providing that all unclaimed
4 prize money from lottery tickets, except
5 instant lottery tickets, shall be deposited in
6 the Educational Enhancement Trust Fund;
7 amending s. 24.121, F.S.; providing that
8 unclaimed prize money deposited in the
9 Educational Enhancement Trust Fund may be used
10 only to provide funding for grades K-12 through
11 the Florida Education Finance Program; amending
12 s. 1010.70, F.S., relating to the Educational
13 Enhancement Trust Fund, to conform; providing
14 an effective date.
15
16 Be It Enacted by the Legislature of the State of Florida:
17
18 Section 1. Subsection (2) of section 24.115, Florida
19 Statutes, is amended to read:
20 24.115 Payment of prizes.--
21 (2) All unclaimed prize money, except unclaimed prize
22 money from instant lottery tickets, shall be deposited in the
23 Educational Enhancement Trust Fund to be used to provide
24 funding for grades K-12 as provided in s. 24.121. Unclaimed
25 prize money from instant lottery tickets shall be added to the
26 pool from which future prizes are to be awarded or used for
27 special prize promotions.
28 Section 2. Subsection (2) of section 24.121, Florida
29 Statutes, is amended to read:
30 24.121 Allocation of revenues and expenditure of funds
31 for public education.--
1
CODING: Words stricken are deletions; words underlined are additions.
Florida Senate - 2004 SB 320
7-610-04 See HB 55
1 (2) Each fiscal year, at least 39 percent of the gross
2 revenue from the sale of on-line lottery tickets, variable
3 percentages of the gross revenue from the sale of instant
4 lottery tickets as determined by the department consistent
5 with subsection (1), unclaimed prize money, except unclaimed
6 prize money from instant lottery tickets, and other earned
7 revenue, excluding application processing fees, shall be
8 deposited in the Educational Enhancement Trust Fund, which is
9 hereby created in the State Treasury to be administered by the
10 Department of Education. The Department of the Lottery shall
11 transfer moneys to the Educational Enhancement Trust Fund at
12 least once each quarter. Funds in the Educational Enhancement
13 Trust Fund shall be used to the benefit of public education in
14 accordance with the provisions of this act, except for funds
15 from unclaimed prize money, which shall be used only to
16 provide funding for grades K-12 through the Florida Education
17 Finance Program. Notwithstanding any other provision of law,
18 lottery revenues transferred to the Educational Enhancement
19 Trust Fund shall be reserved as needed and used to meet the
20 requirements of the documents authorizing the bonds issued by
21 the state pursuant to s. 1013.68, s. 1013.70, or s. 1013.737
22 or distributed to school districts for the Classrooms First
23 Program as provided in s. 1013.68. Such lottery revenues are
24 hereby pledged to the payment of debt service on bonds issued
25 by the state pursuant to s. 1013.68, s. 1013.70, or s.
26 1013.737. Debt service payable on bonds issued by the state
27 pursuant to s. 1013.68, s. 1013.70, or s. 1013.737 shall be
28 payable from, and is secured by a first lien on, the first
29 lottery revenues transferred to the Educational Enhancement
30 Trust Fund in each fiscal year. Amounts distributable to
31 school districts that request the issuance of bonds pursuant
2
CODING: Words stricken are deletions; words underlined are additions.
Florida Senate - 2004 SB 320
7-610-04 See HB 55
1 to s. 1013.68(3) are hereby pledged to such bonds pursuant to
2 s. 11(d), Art. VII of the State Constitution.
3 Section 3. Section 1010.70, Florida Statutes, is
4 amended to read:
5 1010.70 Educational Enhancement Trust Fund.--Each
6 fiscal year, at least 39 percent of the gross revenue from the
7 sale of lottery tickets, variable percentages of the gross
8 revenue from the sale of instant lottery tickets as determined
9 by the department, unclaimed prize money, except unclaimed
10 prize money from instant lottery tickets, and other earned
11 revenue, excluding application processing fees, shall be
12 deposited in the Educational Enhancement Trust Fund as
13 provided in s. 24.121.
14 Section 4. This act shall take effect July 1, 2004.
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
3
CODING: Words stricken are deletions; words underlined are additions.