Senate Bill sb0886

    Florida Senate - 2006                                   SB 886

    By Senator Geller





    31-260-06

  1                      A bill to be entitled

  2         An act relating to trust funds; creating s.

  3         550.2631, F.S.; creating the Video Lottery

  4         Purse Trust Fund within the Department of

  5         Business and Professional Regulation; providing

  6         for source of moneys and purposes; providing

  7         for annual carryforward of funds; providing for

  8         future review and termination or re-creation of

  9         the trust fund; providing a contingent

10         effective date.

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12  Be It Enacted by the Legislature of the State of Florida:

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14         Section 1.  Section 550.2631, Florida Statutes, is

15  created to read:

16         550.2631  Video Lottery Purse Trust Fund.--

17         (1)  The Video Lottery Purse Trust Fund is created, to

18  be administered by the Department of Business and Professional

19  Regulation. Funds shall be credited to the trust fund as

20  provided in s. 24.132 to be used for the purposes specified in

21  that section.

22         (2)  Notwithstanding s. 216.301 and pursuant to s.

23  216.351, any balance in the trust fund at the end of any

24  fiscal year shall remain in the trust fund and be available

25  for carrying out the purposes of the trust fund.

26         (3)  Pursuant to s. 19(f)(2), Art. III of the State

27  Constitution, the trust fund shall, unless terminated sooner,

28  be terminated on July 1, 2010. However, prior to its scheduled

29  termination, the trust fund shall be reviewed as provided in

30  s. 215.3206(1) and (2).

31  

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    Florida Senate - 2006                                   SB 886
    31-260-06




 1         Section 2.  This act shall take effect July 1, 2006, if

 2  SB ____ or similar legislation is adopted in the same

 3  legislative session or an extension thereof and becomes law.

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 6                          SENATE SUMMARY

 7    Creates the Video Lottery Purse Trust Fund within the
      Department of Business and Professional Regulation.
 8    Provides for funding, annual carryforward of funds, and
      future review.
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CODING: Words stricken are deletions; words underlined are additions.