| 1 | A bill to be entitled |
| 2 | An act relating to the state lottery; amending s. 24.115, |
| 3 | F.S.; providing for the deposit of a percentage of |
| 4 | unclaimed prize money in the Educational Enhancement Trust |
| 5 | Fund; amending s. 24.121, F.S.; revising provisions |
| 6 | relating to the allocation of revenues for public |
| 7 | education; amending s. 1010.70, F.S.; conforming |
| 8 | provisions; providing an effective date. |
| 9 |
|
| 10 | Be It Enacted by the Legislature of the State of Florida: |
| 11 |
|
| 12 | Section 1. Subsection (2) of section 24.115, Florida |
| 13 | Statutes, is amended to read: |
| 14 | 24.115 Payment of prizes.-- |
| 15 | (2) Eighty percent of all unclaimed prize money shall be |
| 16 | deposited in the Educational Enhancement Trust Fund consistent |
| 17 | with the provisions of s. 24.121(2). The remaining 20 percent of |
| 18 | All unclaimed prize money shall be added to the pool from which |
| 19 | future prizes are to be awarded or used for special prize |
| 20 | promotions. |
| 21 | Section 2. Subsections (1) and (2) of section 24.121, |
| 22 | Florida Statutes, are amended to read: |
| 23 | 24.121 Allocation of revenues and expenditure of funds for |
| 24 | public education.-- |
| 25 | (1) Variable percentages As nearly as practical, at least |
| 26 | 50 percent of the gross revenue from the sale of on-line and |
| 27 | instant lottery tickets and variable percentages, as determined |
| 28 | by the department, of the gross revenue from the sale of instant |
| 29 | lottery tickets shall be returned to the public in the form of |
| 30 | prizes paid by the department or retailers as authorized by this |
| 31 | act. The variable percentages of gross revenue from the sale of |
| 32 | on-line and instant lottery tickets returned to the public in |
| 33 | the form of prizes shall be established by the department in a |
| 34 | manner designed to maximize the amount of funds deposited under |
| 35 | subsection (2). |
| 36 | (2) Each fiscal year, at least 39 percent of the gross |
| 37 | revenue from the sale of on-line lottery tickets, variable |
| 38 | percentages of the gross revenue from the sale of on-line and |
| 39 | instant lottery tickets as determined by the department |
| 40 | consistent with subsection (1), and other earned revenue, |
| 41 | excluding application processing fees, shall be deposited in the |
| 42 | Educational Enhancement Trust Fund, which is hereby created in |
| 43 | the State Treasury to be administered by the Department of |
| 44 | Education. The Department of the Lottery shall transfer moneys |
| 45 | to the Educational Enhancement Trust Fund at least once each |
| 46 | quarter. Funds in the Educational Enhancement Trust Fund shall |
| 47 | be used to the benefit of public education in accordance with |
| 48 | the provisions of this act. Notwithstanding any other provision |
| 49 | of law, lottery revenues transferred to the Educational |
| 50 | Enhancement Trust Fund shall be reserved as needed and used to |
| 51 | meet the requirements of the documents authorizing the bonds |
| 52 | issued by the state pursuant to s. 1013.68, s. 1013.70, or s. |
| 53 | 1013.737 or distributed to school districts for the Classrooms |
| 54 | First Program as provided in s. 1013.68. Such lottery revenues |
| 55 | are hereby pledged to the payment of debt service on bonds |
| 56 | issued by the state pursuant to s. 1013.68, s. 1013.70, or s. |
| 57 | 1013.737. Debt service payable on bonds issued by the state |
| 58 | pursuant to s. 1013.68, s. 1013.70, or s. 1013.737 shall be |
| 59 | payable from, and is secured by a first lien on, the first |
| 60 | lottery revenues transferred to the Educational Enhancement |
| 61 | Trust Fund in each fiscal year. Amounts distributable to school |
| 62 | districts that request the issuance of bonds pursuant to s. |
| 63 | 1013.68(3) are hereby pledged to such bonds pursuant to s. |
| 64 | 11(d), Art. VII of the State Constitution. |
| 65 | Section 3. Section 1010.70, Florida Statutes, is amended |
| 66 | to read: |
| 67 | 1010.70 Educational Enhancement Trust Fund.--Each fiscal |
| 68 | year, at least 39 percent of the gross revenue from the sale of |
| 69 | lottery tickets, variable percentages of the gross revenue from |
| 70 | the sale of on-line and instant lottery tickets as determined by |
| 71 | the department, and other earned revenue, excluding application |
| 72 | processing fees, shall be deposited in the Educational |
| 73 | Enhancement Trust Fund as provided in s. 24.121. |
| 74 | Section 4. This act shall take effect July 1, 2005. |