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A bill to be entitled

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An act relating to slot machine revenues; amending s.

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

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revenues at each pari-mutuel facility; requiring certain

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licensees to pay a pro rata share of the shortfall in

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taxes paid on slot machine tax revenues under certain

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conditions; providing a percentage cap on the payment of

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

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providing hours of operation for sales of alcoholic

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beverages in slot machine gaming areas; providing an

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effective date.

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

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

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Statutes, is amended to read:

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     551.106  License fee; tax rate; penalties.--

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     (2)  TAX ON SLOT MACHINE REVENUES.--

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

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shall be 35 50 percent.

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

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

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exceed a cumulative amount of $123 million from the slot machine

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licensees, the shortfall during the fiscal year shall be paid by

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each slot machine licensee that conducted slot machine gaming in

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such year in an amount based upon each licensee's pro rata share

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of the total taxes paid on slot machine revenues in such year.

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Each licensee shall pay its pro rata share of any shortfall

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

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is not obligated to pay in taxes during a state fiscal year a

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cumulative amount of more than 50 percent of its slot machine

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revenues.

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

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

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Wagering Trust Fund for immediate transfer by the Chief Financial

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Officer for deposit into the Educational Enhancement Trust Fund

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of the Department of Education. Any interest earnings on the tax

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revenues shall also be transferred to the Educational Enhancement

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Trust Fund.

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

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

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education funding statewide.

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     2.  If necessary to comply with any covenant established

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

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funds transferred to the Educational Enhancement Trust Fund under

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

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lottery bonds issued to fund school construction in the event

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lottery revenues are insufficient for such purpose or to satisfy

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debt service reserve requirements established in connection with

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lottery bonds. Moneys available pursuant to this subparagraph are

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subject to annual appropriation by the Legislature.

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     Section 2.  Section 551.116, Florida Statutes, is amended to

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read:

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

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

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gaming areas, including sales of alcoholic beverages, may be open

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

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

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specified in s. 110.117(1), and such hours of operation are not

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subject to other regulation.

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