HB 0841

1
A bill to be entitled
2An act relating to the state lottery; amending s. 24.115,
3F.S.; providing for the deposit of a percentage of
4unclaimed prize money in the Educational Enhancement Trust
5Fund; amending s. 24.121, F.S.; revising provisions
6relating to the allocation of revenues for public
7education; amending s. 1010.70, F.S.; conforming
8provisions; providing an effective date.
9
10Be It Enacted by the Legislature of the State of Florida:
11
12     Section 1.  Subsection (2) of section 24.115, Florida
13Statutes, is amended to read:
14     24.115  Payment of prizes.--
15     (2)  Eighty percent of all unclaimed prize money shall be
16deposited in the Educational Enhancement Trust Fund consistent
17with the provisions of s. 24.121(2). The remaining 20 percent of
18All unclaimed prize money shall be added to the pool from which
19future prizes are to be awarded or used for special prize
20promotions.
21     Section 2.  Subsections (1) and (2) of section 24.121,
22Florida Statutes, are amended to read:
23     24.121  Allocation of revenues and expenditure of funds for
24public education.--
25     (1)  Variable percentages As nearly as practical, at least
2650 percent of the gross revenue from the sale of on-line and
27instant lottery tickets and variable percentages, as determined
28by the department, of the gross revenue from the sale of instant
29lottery tickets shall be returned to the public in the form of
30prizes paid by the department or retailers as authorized by this
31act. The variable percentages of gross revenue from the sale of
32on-line and instant lottery tickets returned to the public in
33the form of prizes shall be established by the department in a
34manner designed to maximize the amount of funds deposited under
35subsection (2).
36     (2)  Each fiscal year, at least 39 percent of the gross
37revenue from the sale of on-line lottery tickets, variable
38percentages of the gross revenue from the sale of on-line and
39instant lottery tickets as determined by the department
40consistent with subsection (1), and other earned revenue,
41excluding application processing fees, shall be deposited in the
42Educational Enhancement Trust Fund, which is hereby created in
43the State Treasury to be administered by the Department of
44Education. The Department of the Lottery shall transfer moneys
45to the Educational Enhancement Trust Fund at least once each
46quarter. Funds in the Educational Enhancement Trust Fund shall
47be used to the benefit of public education in accordance with
48the provisions of this act. Notwithstanding any other provision
49of law, lottery revenues transferred to the Educational
50Enhancement Trust Fund shall be reserved as needed and used to
51meet the requirements of the documents authorizing the bonds
52issued by the state pursuant to s. 1013.68, s. 1013.70, or s.
531013.737 or distributed to school districts for the Classrooms
54First Program as provided in s. 1013.68. Such lottery revenues
55are hereby pledged to the payment of debt service on bonds
56issued by the state pursuant to s. 1013.68, s. 1013.70, or s.
571013.737. Debt service payable on bonds issued by the state
58pursuant to s. 1013.68, s. 1013.70, or s. 1013.737 shall be
59payable from, and is secured by a first lien on, the first
60lottery revenues transferred to the Educational Enhancement
61Trust Fund in each fiscal year. Amounts distributable to school
62districts that request the issuance of bonds pursuant to s.
631013.68(3) are hereby pledged to such bonds pursuant to s.
6411(d), Art. VII of the State Constitution.
65     Section 3.  Section 1010.70, Florida Statutes, is amended
66to read:
67     1010.70  Educational Enhancement Trust Fund.--Each fiscal
68year, at least 39 percent of the gross revenue from the sale of
69lottery tickets, variable percentages of the gross revenue from
70the sale of on-line and instant lottery tickets as determined by
71the department, and other earned revenue, excluding application
72processing fees, shall be deposited in the Educational
73Enhancement Trust Fund as provided in s. 24.121.
74     Section 4.  This act shall take effect July 1, 2005.


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