| 1 | A bill to be entitled |
| 2 | An act relating to the Slot Machine Administrative Trust |
| 3 | Fund; creating s. 551.50, F.S.; creating the Slot Machine |
| 4 | Administrative Trust Fund within the Department of |
| 5 | Business and Professional Regulation; providing for source |
| 6 | of funds and purpose; providing for future legislative |
| 7 | review and termination or re-creation of the trust fund; |
| 8 | providing a contingent effective date. |
| 9 |
|
| 10 | Be It Enacted by the Legislature of the State of Florida: |
| 11 |
|
| 12 | Section 1. Section 551.50, Florida Statutes, is created to |
| 13 | read: |
| 14 | 551.50 Slot Machine Administrative Trust Fund.-- |
| 15 | (1) The Slot Machine Administrative Trust Fund is created |
| 16 | within the Department of Business and Professional Regulation |
| 17 | for the purpose of receiving funds collected from various |
| 18 | license fees and administrative and civil penalties resulting |
| 19 | from the regulation of slot machine gambling. Funds may be used |
| 20 | by the agency to cover the operational costs of the Division of |
| 21 | Slot Machine Gaming and for such other purposes as may be |
| 22 | appropriate. |
| 23 | (2) Pursuant to s. 19(f)(2), Art. III of the State |
| 24 | Constitution, the trust fund shall, unless terminated sooner, be |
| 25 | terminated on July 1, 2009. Before its scheduled termination, |
| 26 | the trust fund shall be reviewed as provided in s. 215.3206(1) |
| 27 | and (2). |
| 28 | Section 2. This act shall take effect July 1, 2005, if HB |
| 29 | 1901 or similar legislation is adopted in the same legislative |
| 30 | session or an extension thereof and becomes law. |