1

The Committee on Regulated Industries (Geller) recommended the

2

following amendment:

3

4

     Senate Amendment (with title amendment)

5

     Delete everything after the enacting clause

6

and insert:

7

8

     Section 1.  Subsection (2) of section 551.106, Florida

9

Statutes, is amended to read:

10

     551.106  License fee; tax rate; penalties.--

11

     (2)  TAX ON SLOT MACHINE REVENUES.--

12

     (a)  The tax rate on slot machine revenues at each facility

13

shall be 35 50 percent.

14

     (b) Notwithstanding paragraph (a), if the total slot

15

machine revenues paid in any state fiscal year do not meet or

16

exceed a cumulative amount of $123 million from the licensed

17

slot machine facilities, the shortfall during the fiscal year

18

shall be paid by each facility that conducted slot machine

19

gaming in such year in an amount based upon each facility's pro

20

rata share of the total slot machine revenues paid in such year.

21

Each facility shall pay its pro rata share of any shortfall

22

amounts on or before July 31 of the next fiscal year. Each

23

facility's obligation to pay taxes on slot machine revenues

24

shall be capped at 50 percent for each fiscal year.

25

     (c)(b) The slot machine revenue tax imposed by this

26

section shall be paid to the division for deposit into the Pari-

27

mutuel Wagering Trust Fund for immediate transfer by the Chief

28

Financial Officer for deposit into the Educational Enhancement

29

Trust Fund of the Department of Education. Any interest earnings

30

on the tax revenues shall also be transferred to the Educational

31

Enhancement Trust Fund.

32

     (d)(c)1. Funds transferred to the Educational Enhancement

33

Trust Fund under paragraph (b) shall be used to supplement

34

public education funding statewide.

35

     2.  If necessary to comply with any covenant established

36

pursuant to s. 1013.68(4), s. 1013.70(1), or s. 1013.737(3),

37

funds transferred to the Educational Enhancement Trust Fund

38

under paragraph (c) (b) shall first be available to pay debt

39

service on lottery bonds issued to fund school construction in

40

the event lottery revenues are insufficient for such purpose or

41

to satisfy debt service reserve requirements established in

42

connection with lottery bonds. Moneys available pursuant to this

43

subparagraph are subject to annual appropriation by the

44

Legislature.

45

     Section 2.  Section 551.116, Florida Statutes, is amended

46

to read:

47

     551.116  Days and hours of operation.--Slot machine gaming

48

areas may be open daily throughout the year. The slot machine

49

gaming areas, including sales of alcoholic beverages, may be

50

open a cumulative amount of 18 hours per day on Monday through

51

Friday and 24 hours per day on Saturday and Sunday and on those

52

holidays specified in s. 110.117(1), and such hours of operation

53

are not subject to other regulation.

54

     Section 3.  This act shall take effect upon becoming a law.

55

56

================ T I T L E  A M E N D M E N T ================

57

And the title is amended as follows:

58

     Delete everything before the enacting clause

59

and insert:

60

A bill to be entitled

61

An act relating to slot machine revenues; amending s.

62

551.106, F.S.; revising the tax rate on slot machine

63

revenues at each pari-mutuel facility; requiring certain

64

pari-mutuel facilities to pay a pro rata share of the

65

shortfall in slot machine revenues under certain

66

conditions; providing a percentage cap on payment of taxes

67

on slot machine revenues; amending s. 551.116, F.S.;

68

providing hours of operation for sales of alcoholic

69

beverages in slot machine gaming areas; providing an

70

effective date.

2/15/2008  4:41:00 PM     580-04114A-08