| 1 | A bill to be entitled |
| 2 | An act relating to slot machine revenues; amending s. |
| 3 | 551.106, F.S.; revising the tax rate on slot machine |
| 4 | revenues at each pari-mutuel facility; requiring certain |
| 5 | licensees to pay a pro rata share of the shortfall in |
| 6 | taxes paid on slot machine tax revenues under certain |
| 7 | conditions; providing a percentage cap on payment of taxes |
| 8 | on slot machine revenues; amending s. 551.116, F.S.; |
| 9 | providing hours of operation for sales of alcoholic |
| 10 | beverages in slot machine gaming areas; providing an |
| 11 | effective date. |
| 12 |
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| 13 | Be It Enacted by the Legislature of the State of Florida: |
| 14 |
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| 15 | Section 1. Subsection (2) of section 551.106, Florida |
| 16 | Statutes, is amended to read: |
| 17 | 551.106 License fee; tax rate; penalties.-- |
| 18 | (2) TAX ON SLOT MACHINE REVENUES.-- |
| 19 | (a) The tax rate on slot machine revenues at each facility |
| 20 | shall be 35 50 percent. |
| 21 | (b) Notwithstanding paragraph (a), if the total slot |
| 22 | machine tax revenues paid in any state fiscal year do not meet |
| 23 | or exceed a cumulative amount of $123 million from the slot |
| 24 | machine licensees, the shortfall during the fiscal year shall be |
| 25 | paid by each slot machine licensee that conducted slot machine |
| 26 | gaming in such year in an amount based upon each licensee's pro |
| 27 | rata share of the total taxes paid on slot machine revenues in |
| 28 | such year. Each licensee shall pay its pro rata share of any |
| 29 | shortfall amounts on or before July 31 of the next fiscal year. |
| 30 | A licensee is not obligated to pay in taxes during a state |
| 31 | fiscal year a cumulative amount of more than 50 percent of its |
| 32 | slot machine revenues. |
| 33 | (c)(b) The slot machine revenue tax imposed by this |
| 34 | section shall be paid to the division for deposit into the Pari- |
| 35 | mutuel Wagering Trust Fund for immediate transfer by the Chief |
| 36 | Financial Officer for deposit into the Educational Enhancement |
| 37 | Trust Fund of the Department of Education. Any interest earnings |
| 38 | on the tax revenues shall also be transferred to the Educational |
| 39 | Enhancement Trust Fund. |
| 40 | (d)(c)1. Funds transferred to the Educational Enhancement |
| 41 | Trust Fund under paragraph (b) shall be used to supplement |
| 42 | public education funding statewide. |
| 43 | 2. If necessary to comply with any covenant established |
| 44 | pursuant to s. 1013.68(4), s. 1013.70(1), or s. 1013.737(3), |
| 45 | funds transferred to the Educational Enhancement Trust Fund |
| 46 | under paragraph (c) (b) shall first be available to pay debt |
| 47 | service on lottery bonds issued to fund school construction in |
| 48 | the event lottery revenues are insufficient for such purpose or |
| 49 | to satisfy debt service reserve requirements established in |
| 50 | connection with lottery bonds. Moneys available pursuant to this |
| 51 | subparagraph are subject to annual appropriation by the |
| 52 | Legislature. |
| 53 | Section 2. Section 551.116, Florida Statutes, is amended |
| 54 | to read: |
| 55 | 551.116 Days and hours of operation.--Slot machine gaming |
| 56 | areas may be open daily throughout the year. The slot machine |
| 57 | gaming areas, including sales of alcoholic beverages, may be |
| 58 | open a cumulative amount of 18 hours per day on Monday through |
| 59 | Friday and 24 hours per day on Saturday and Sunday and on those |
| 60 | holidays specified in s. 110.117(1), and such hours of operation |
| 61 | are not subject to other regulation. |
| 62 | Section 3. This act shall take effect upon becoming a law. |