Florida Senate - 2012 SB 754 By Senator Wise 5-00640-12 2012754__ 1 A bill to be entitled 2 An act relating to educational enhancement; creating 3 the Educational Excellence Endowment Fund within the 4 Statewide Florida College System institution direct 5 support organization; requiring that the Statewide 6 Florida College System institution direct-support 7 organization administer the endowment fund; providing 8 purposes; requiring that the direct-support 9 organization deposit revenues from gaming taxes and 10 fees and other grants, gifts, and bequests of money 11 into the endowment fund; requiring that the direct 12 support organization invest the funds and use only the 13 interest accrued; creating the Juvenile Justice 14 Education and Training Endowment Fund within the 15 direct-support organization for the Department of 16 Juvenile Justice; requiring that the direct-support 17 organization administer the endowment fund; providing 18 purposes; requiring that the direct-support 19 organization deposit revenues from gaming taxes and 20 fees and other grants, gifts, and bequests of money 21 into the endowment fund; requiring that the direct 22 support organization invest the funds and use only the 23 interest accrued; amending s. 24.121, F.S.; revising 24 provisions relating to the allocation of revenues and 25 the expenditure of funds deposited into the 26 Educational Enhancement Trust Fund; requiring that the 27 Department of Education transfer a specified 28 percentage of the funds to the Statewide Florida 29 College System institution direct-support organization 30 and the direct-support organization for the Department 31 of Juvenile Justice for the purpose of funding the 32 Educational Excellence Endowment Fund and the Juvenile 33 Justice Education and Training Endowment Fund; 34 amending s. 285.710, F.S.; revising provisions 35 relating to the Gaming Compact between the Seminole 36 Tribe of Florida and the state; requiring that a 37 specified percentage of the moneys paid by the Tribe 38 be transferred from the General Revenue Fund to the 39 Statewide Florida College System institution direct 40 support organization and the direct-support 41 organization for the Department of Juvenile Justice 42 for the purpose of funding the Educational Excellence 43 Endowment Fund and the Juvenile Justice Education and 44 Training Endowment Fund; amending s. 551.106, F.S.; 45 revising provisions relating to the deposit and 46 distribution of the slot machine revenue tax; 47 requiring that the Chief Financial Officer transfer a 48 specified percentage of the funds collected from the 49 Pari-mutuel Wagering Trust Fund to the Statewide 50 Florida College System institution direct-support 51 organization and the direct-support organization for 52 the Department of Juvenile Justice for the purpose of 53 funding the Educational Excellence Endowment Fund and 54 the Juvenile Justice Education and Training Endowment 55 Fund; amending s. 849.086, F.S.; revising provisions 56 relating to the taxes imposed on cardrooms; requiring 57 that the Chief Financial Officer transfer a specified 58 percentage of the funds to the Statewide Florida 59 College System institution direct-support organization 60 and the direct-support organization for the Department 61 of Juvenile Justice for the purpose of funding the 62 Educational Excellence Endowment Fund and the Juvenile 63 Justice Education and Training Endowment Fund; 64 providing an effective date. 65 66 WHEREAS, the Legislature finds that if an endowment fund 67 had been created in which 2 percent of all lottery revenue 68 generated from 1987 to 2011 were placed, the present value of 69 the endowment fund would be worth over $320 million, and 70 WHEREAS, the Legislature intends to establish endowment 71 funds within the Statewide Florida College System institution 72 direct-support organization and the direct-support organization 73 for the Department of Juvenile Justice for the purpose of 74 providing additional financial support to enhance public 75 education, and 76 WHEREAS, the Legislature intends for the state’s gaming 77 revenue and gifts and bequests from corporations, private 78 foundations, and individuals to be deposited into the endowment 79 funds and invested for the purpose of generating interest, and 80 WHEREAS, only the interest from the endowment funds may be 81 used to support education program enhancements and activities 82 related to employment and obtaining additional education 83 opportunities, such as job certifications, college degrees, and 84 reentry activities, NOW, THEREFORE, 85 86 Be It Enacted by the Legislature of the State of Florida: 87 88 Section 1. The Educational Excellence Endowment Fund is 89 created within and shall be administered by the Statewide 90 Florida College System institution direct-support organization 91 established in s. 1004.71, Florida Statutes. The purpose of the 92 endowment fund is to enhance education programs and activities 93 related to employment by providing opportunities and programs, 94 training for specialized job certifications, and specialized 95 degree programs. The direct-support organization shall deposit 96 revenues received from gaming taxes and fees and other grants, 97 gifts, and bequests of money into the endowment fund. The 98 direct-support organization shall invest the funds and shall use 99 only the interest accrued on the investment of the funds for the 100 purposes provided in this section. 101 Section 2. The Juvenile Justice Education and Training 102 Endowment Fund is created within and shall be administered by 103 the direct-support organization established in s. 985.672, 104 Florida Statutes. The purpose of the endowment fund is to 105 enhance education programs and activities related to employment 106 by providing programs for job certification, trade and college 107 degree programs, and community reentry training. The direct 108 support organization shall deposit revenues received from gaming 109 taxes and fees and other grants, gifts, and bequests of money 110 into the endowment fund. The direct-support organization shall 111 invest the funds and shall use only the interest accrued on the 112 investment of the funds for the purposes provided in this 113 section. 114 Section 3. Subsection (2) of section 24.121, Florida 115 Statutes, is amended to read: 116 24.121 Allocation of revenues and expenditure of funds for 117 public education.— 118 (2) Each fiscal year, variable percentages of the gross 119 revenue from the sale of online and instant lottery tickets as 120 determined by the department consistent with subsection (1), and 121 other earned revenue, excluding application processing fees, 122 shall be deposited in the Educational Enhancement Trust Fund, 123 which isherebycreated in the State Treasury to be administered 124 by the Department of Education. The Department of Education 125 shall transfer 1.5 percent of the funds deposited in the 126 Educational Enhancement Trust Fund to the Statewide Florida 127 College System institution direct-support organization 128 established in s. 1004.71, and that amount shall be used to fund 129 the Educational Excellence Endowment Fund. The Department of 130 Education shall also transfer 0.5 percent of the funds deposited 131 in the Educational Enhancement Trust Fund to the direct-support 132 organization established in s. 985.672, and that amount shall be 133 used to fund the Juvenile Justice Education and Training 134 Endowment Fund. The Department of the Lottery shall transfer 135 moneys to the Educational Enhancement Trust Fund at least once 136 each quarter. Funds in the Educational Enhancement Trust Fund 137 shall be used to the benefit of public education in accordance 138 with the provisions of this act. Notwithstanding any other 139 provision of law, lottery revenues transferred to the 140 Educational Enhancement Trust Fund shall be reserved as needed 141 and used to meet the requirements of the documents authorizing 142 the bonds issued by the state pursuant to s. 1013.68, s. 143 1013.70, or s. 1013.737 or distributed to school districts for 144 the Classrooms First Program as provided in s. 1013.68. TheSuch145 lottery revenues areherebypledged to the payment of debt 146 service on bonds issued by the state pursuant to s. 1013.68, s. 147 1013.70, or s. 1013.737. Debt service payable on bonds issued by 148 the state pursuant to s. 1013.68, s. 1013.70, or s. 1013.737 149 shall be payable from, and is secured by a first lien on, the 150 first lottery revenues transferred to the Educational 151 Enhancement Trust Fund in each fiscal year. Amounts 152 distributable to school districts that request the issuance of 153 bonds pursuant to s. 1013.68(3) areherebypledged to thesuch154 bonds pursuant to s. 11(d), Art. VII of the State Constitution. 155 Section 4. Subsection (9) of section 285.710, Florida 156 Statutes, is amended to read: 157 285.710 Compact authorization.— 158 (9) The moneys paid by the Tribe to the state for the 159 benefit of exclusivity under the compact ratified by this 160 section shall be deposited into the General Revenue Fund. The 161 moneys shall be distributed as follows: 162 (a) One and one-half percent shall be transferred to the 163 Statewide Florida College System institution direct-support 164 organization established in s. 1004.71 and used to fund the 165 Educational Excellence Endowment Fund. 166 (b) One-half percent shall be transferred to the direct 167 support organization established in s. 985.672 and used to fund 168 the Juvenile Justice Education and Training Endowment Fund. 169 (c) Three percentof the amount paid by the Tribe to the170stateshall be designated as the local government share and 171 shall be distributed as provided in subsections (10) and (11). 172 Section 5. Paragraph (b) of subsection (2) of section 173 551.106, Florida Statutes, is amended to read: 174 551.106 License fee; tax rate; penalties.— 175 (2) TAX ON SLOT MACHINE REVENUES.— 176 (b) The slot machine revenue tax imposed by this section 177 shall be paid to the division for deposit into the Pari-mutuel 178 Wagering Trust Fund for immediate transfer by the Chief 179 Financial Officer for deposit as follows: 180 1. Ninety-eight percent of the funds shall be deposited 181 into the Educational Enhancement Trust Fund of the Department of 182 Education. Any interest earnings on the tax revenues shall also 183 be transferred to the Educational Enhancement Trust Fund. 184 2. One and one-half percent of the funds shall be 185 transferred to the Statewide Florida College System institution 186 direct-support organization established in s. 1004.71 and used 187 to fund the Educational Excellence Endowment Fund. 188 3. One-half percent of the funds shall be transferred to 189 the direct-support organization established in s. 985.672 and 190 used to fund the Juvenile Justice Education and Training 191 Endowment Fund. 192 Section 6. Paragraph (c) of subsection (13) of section 193 849.086, Florida Statutes, is amended to read: 194 849.086 Cardrooms authorized.— 195 (13) TAXES AND OTHER PAYMENTS.— 196 (c) Payment of the admission tax and gross receipts tax 197 imposed by this section shall be paid to the division. The 198 division shall deposit these sums with the Chief Financial 199 Officer, 49 percent shall beone-halfbeingcredited to the 200 Pari-mutuel Wagering Trust Fund, 49 percent shall beand one201halfbeingcredited to the General Revenue Fund, 1.5 percent 202 shall be transferred to the Statewide Florida College System 203 institution direct-support organization established in s. 204 1004.71 and used to fund the Educational Excellence Endowment 205 Fund, and 0.5 percent shall be transferred to the direct-support 206 organization established in s. 985.672 and used to fund the 207 Juvenile Justice Education and Training Endowment Fund. The 208 cardroom licensee shall remit to the division payment for the 209 admission tax, the gross receipts tax, and the licensee fees. 210 TheSuchpayments shall be remitted to the division on the fifth 211 day of each calendar month for taxes and fees imposed for the 212 preceding month’s cardroom activities. Licensees shall file a 213 report under oath by the fifth day of each calendar month for 214 all taxes remitted during the preceding calendar month. TheSuch215 report shall, under oath, indicate the total of all admissions, 216 the cardroom activities for the preceding calendar month, and 217suchother information as may be prescribed by the division. 218 Section 7. This act shall take effect July 1, 2012.