Senate Bill sb2240

    Florida Senate - 2007                                  SB 2240

    By Senator Geller





    31-221-07

  1                      A bill to be entitled

  2         An act relating to trust funds; creating s.

  3         24.1127, F.S.; creating the Video Lottery

  4         Administrative Trust Fund within the Department

  5         of the Lottery; providing for source of moneys

  6         and purposes; providing for annual carryforward

  7         of funds; providing for future review and

  8         termination or re-creation of the trust fund;

  9         providing a contingent effective date.

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

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13         Section 1.  Section 24.1127, Florida Statutes, is

14  created to read:

15         24.1127  Video Lottery Administrative Trust Fund.--

16         (1)  The Video Lottery Administrative Trust Fund is

17  created, to be administered by the Department of the Lottery.

18  Funds shall be credited to and distributed from the trust fund

19  as provided in s. 24.127 to be used for the purposes specified

20  in that section.

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

22  216.351, any balance in the trust fund at the end of any

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

24  for carrying out the purposes of the trust fund.

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

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

27  be terminated on July 1, 2011. However, before its scheduled

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

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

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    Florida Senate - 2007                                  SB 2240
    31-221-07




 1         Section 2.  This act shall take effect July 1, 2007, 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 Administrative Trust Fund to be
      administered by the Department of the Lottery. Requires
 8    funds credited to the trust fund to be used to implement
      the distribution of proceeds from video lottery games.
 9    Provides for retention of balances and provides for
      review and termination or re-creation of the trust fund.
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CODING: Words stricken are deletions; words underlined are additions.