Florida Senate - 2012                              CS for SB 754
       
       
       
       By the Committee on Higher Education; and Senator Wise
       
       
       
       
       589-01855-12                                           2012754c1
    1                        A bill to be entitled                      
    2         An act relating to educational enhancement; creating
    3         the Educational Excellence Endowment Enhancement Fund
    4         within the Department of Education’s direct-support
    5         organization; requiring that the direct-support
    6         organization administer the endowment enhancement
    7         fund; providing purposes; requiring that the direct
    8         support organization deposit revenues from gaming
    9         taxes and fees and other grants, gifts, and bequests
   10         of money into the endowment enhancement fund;
   11         requiring that the direct-support organization invest
   12         the funds and use only the interest accrued; creating
   13         the Juvenile Justice Education and Training Endowment
   14         Fund within the direct-support organization for the
   15         Department of Juvenile Justice; requiring that the
   16         direct-support organization administer the endowment
   17         fund; providing purposes; requiring that the direct
   18         support organization deposit revenues from gaming
   19         taxes and fees and other grants, gifts, and bequests
   20         of money into the endowment fund; requiring that the
   21         direct-support organization invest the funds and use
   22         only the interest accrued; amending s. 24.121, F.S.;
   23         revising provisions relating to the allocation of
   24         revenues and the expenditure of funds deposited into
   25         the Educational Enhancement Trust Fund; requiring that
   26         the Department of Education transfer a specified
   27         percentage of the funds to the Department of
   28         Education’s direct-support organization and the
   29         direct-support organization for the Department of
   30         Juvenile Justice for the purpose of funding the
   31         Educational Excellence Endowment Enhancement Fund and
   32         the Juvenile Justice Education and Training Endowment
   33         Fund; amending s. 285.710, F.S.; revising provisions
   34         relating to the Gaming Compact between the Seminole
   35         Tribe of Florida and the state; requiring that a
   36         specified percentage of the moneys paid by the Tribe
   37         be transferred from the General Revenue Fund to the
   38         Department of Education’s direct-support organization
   39         and the direct-support organization for the Department
   40         of Juvenile Justice for the purpose of funding the
   41         Educational Excellence Endowment Enhancement Fund and
   42         the Juvenile Justice Education and Training Endowment
   43         Fund; amending s. 551.106, F.S.; revising provisions
   44         relating to the deposit and distribution of the slot
   45         machine revenue tax; requiring that the Chief
   46         Financial Officer transfer a specified percentage of
   47         the funds collected from the Pari-mutuel Wagering
   48         Trust Fund to the Department of Education’s direct
   49         support organization and the direct-support
   50         organization for the Department of Juvenile Justice
   51         for the purpose of funding the Educational Excellence
   52         Endowment Enhancement Fund and the Juvenile Justice
   53         Education and Training Endowment Fund; amending s.
   54         849.086, F.S.; revising provisions relating to the
   55         taxes imposed on cardrooms; requiring that the Chief
   56         Financial Officer transfer a specified percentage of
   57         the funds to the Department of Education’s direct
   58         support organization and the direct-support
   59         organization for the Department of Juvenile Justice
   60         for the purpose of funding the Educational Excellence
   61         Endowment Enhancement Fund and the Juvenile Justice
   62         Education and Training Endowment Fund; providing an
   63         effective date.
   64  
   65         WHEREAS, the Legislature finds that if an endowment fund
   66  had been created in which 2 percent of all lottery revenues
   67  generated from 1987 to 2011 were placed, the present value of
   68  the endowment fund would be worth over $320 million, and
   69         WHEREAS, the Legislature intends to establish endowment
   70  funds within the Department of Education’s direct-support
   71  organization and the direct-support organization for the
   72  Department of Juvenile Justice for the purpose of providing
   73  additional financial support to enhance public education, and
   74         WHEREAS, the Legislature intends for the state’s gaming
   75  revenue and gifts and bequests from corporations, private
   76  foundations, and individuals to be deposited into the endowment
   77  funds and invested for the purpose of generating interest, and
   78         WHEREAS, only the interest from the endowment funds may be
   79  used to support education program enhancements and activities
   80  related to employment and obtaining additional education
   81  opportunities, such as job certifications, college degrees, and
   82  reentry activities, NOW, THEREFORE,
   83  
   84  Be It Enacted by the Legislature of the State of Florida:
   85  
   86         Section 1. The Educational Excellence Endowment Enhancement
   87  Fund is created within and shall be administered by the
   88  Department of Education’s direct-support organization
   89  established in s. 1001.24, Florida Statutes. The purpose of the
   90  endowment enhancement fund is to support education programs and
   91  activities from the interest generated by the endowment. The
   92  direct-support organization shall deposit revenues received from
   93  gaming taxes and fees and other grants, gifts, and bequests of
   94  money into the endowment enhancement fund. The direct-support
   95  organization shall invest the funds and shall use only the
   96  interest accrued on the investment of the funds for the purposes
   97  provided in this section.
   98         Section 2. The Juvenile Justice Education and Training
   99  Endowment Fund is created within and shall be administered by
  100  the direct-support organization established in s. 985.672,
  101  Florida Statutes. The purpose of the endowment fund is to
  102  enhance education programs and activities related to employment
  103  by providing programs for job certification, trade and college
  104  programs, and community reentry training. The direct-support
  105  organization shall deposit revenues received from gaming taxes
  106  and fees and other grants, gifts, and bequests of money into the
  107  endowment fund. The direct-support organization shall invest the
  108  funds and shall use only the interest accrued on the investment
  109  of the funds for the purposes provided in this section.
  110         Section 3. Subsection (2) of section 24.121, Florida
  111  Statutes, is amended to read:
  112         24.121 Allocation of revenues and expenditure of funds for
  113  public education.—
  114         (2) Each fiscal year, variable percentages of the gross
  115  revenue from the sale of online and instant lottery tickets as
  116  determined by the department consistent with subsection (1), and
  117  other earned revenue, excluding application processing fees,
  118  shall be deposited in the Educational Enhancement Trust Fund,
  119  which is hereby created in the State Treasury to be administered
  120  by the Department of Education. The Department of Education
  121  shall transfer 1.5 percent of the funds deposited in the
  122  Educational Enhancement Trust Fund to the Department of
  123  Education’s direct-support organization established in s.
  124  1001.24, and that amount shall be used to fund the Educational
  125  Excellence Endowment Enhancement Fund. The Department of
  126  Education shall also transfer 0.5 percent of the funds deposited
  127  in the Educational Enhancement Trust Fund to the direct-support
  128  organization established in s. 985.672, and that amount shall be
  129  used to fund the Juvenile Justice Education and Training
  130  Endowment Fund. The Department of the Lottery shall transfer
  131  moneys to the Educational Enhancement Trust Fund at least once
  132  each quarter. Funds in the Educational Enhancement Trust Fund
  133  shall be used to the benefit of public education in accordance
  134  with the provisions of this act. Notwithstanding any other
  135  provision of law, lottery revenues transferred to the
  136  Educational Enhancement Trust Fund shall be reserved as needed
  137  and used to meet the requirements of the documents authorizing
  138  the bonds issued by the state pursuant to s. 1013.68, s.
  139  1013.70, or s. 1013.737 or distributed to school districts for
  140  the Classrooms First Program as provided in s. 1013.68. Such
  141  lottery revenues are hereby pledged to the payment of debt
  142  service on bonds issued by the state pursuant to s. 1013.68, s.
  143  1013.70, or s. 1013.737. Debt service payable on bonds issued by
  144  the state pursuant to s. 1013.68, s. 1013.70, or s. 1013.737
  145  shall be payable from, and is secured by a first lien on, the
  146  first lottery revenues transferred to the Educational
  147  Enhancement Trust Fund in each fiscal year. Amounts
  148  distributable to school districts that request the issuance of
  149  bonds pursuant to s. 1013.68(3) are hereby pledged to such bonds
  150  pursuant to s. 11(d), Art. VII of the State Constitution.
  151         Section 4. Subsection (9) of section 285.710, Florida
  152  Statutes, is amended to read:
  153         285.710 Compact authorization.—
  154         (9) The moneys paid by the Tribe to the state for the
  155  benefit of exclusivity under the compact ratified by this
  156  section shall be deposited into the General Revenue Fund. The
  157  moneys shall be distributed as follows:
  158         (a) One and one-half percent shall be transferred to the
  159  Department of Education’s direct-support organization
  160  established in s. 1001.24 and used to fund the Educational
  161  Excellence Endowment Enhancement Fund.
  162         (b) One-half percent shall be transferred to the direct
  163  support organization established in s. 985.672 and used to fund
  164  the Juvenile Justice Education and Training Endowment Fund.
  165         (c) Three percent of the amount paid by the Tribe to the
  166  state shall be designated as the local government share and
  167  shall be distributed as provided in subsections (10) and (11).
  168         Section 5. Paragraph (b) of subsection (2) of section
  169  551.106, Florida Statutes, is amended to read:
  170         551.106 License fee; tax rate; penalties.—
  171         (2) TAX ON SLOT MACHINE REVENUES.—
  172         (b) The slot machine revenue tax imposed by this section
  173  shall be paid to the division for deposit into the Pari-mutuel
  174  Wagering Trust Fund for immediate transfer by the Chief
  175  Financial Officer for deposit as follows:
  176         1. Ninety-eight percent of the funds shall be deposited
  177  into the Educational Enhancement Trust Fund of the Department of
  178  Education. Any interest earnings on the tax revenues shall also
  179  be transferred to the Educational Enhancement Trust Fund.
  180         2. One and one-half percent of the funds shall be
  181  transferred to the Department of Education’s direct-support
  182  organization established in s. 1001.24 and used to fund the
  183  Educational Excellence Endowment Enhancement Fund.
  184         3. One-half percent of the funds shall be transferred to
  185  the direct-support organization established in s. 985.672 and
  186  used to fund the Juvenile Justice Education and Training
  187  Endowment Fund.
  188         Section 6. Paragraph (c) of subsection (13) of section
  189  849.086, Florida Statutes, is amended to read:
  190         849.086 Cardrooms authorized.—
  191         (13) TAXES AND OTHER PAYMENTS.—
  192         (c) Payment of the admission tax and gross receipts tax
  193  imposed by this section shall be paid to the division. The
  194  division shall deposit these sums with the Chief Financial
  195  Officer, 49 percent of which shall be one-half being credited to
  196  the Pari-mutuel Wagering Trust Fund, 49 percent of which shall
  197  be and one-half being credited to the General Revenue Fund, 1.5
  198  percent of which shall be transferred to the Department of
  199  Education’s direct-support organization established in s.
  200  1001.24 and used to fund the Educational Excellence Endowment
  201  Enhancement Fund, and 0.5 percent of which shall be transferred
  202  to the direct-support organization established in s. 985.672 and
  203  used to fund the Juvenile Justice Education and Training
  204  Endowment Fund. The cardroom licensee shall remit to the
  205  division payment for the admission tax, the gross receipts tax,
  206  and the licensee fees. The Such payments shall be remitted to
  207  the division on the fifth day of each calendar month for taxes
  208  and fees imposed for the preceding month’s cardroom activities.
  209  Licensees shall file a report under oath by the fifth day of
  210  each calendar month for all taxes remitted during the preceding
  211  calendar month. The Such report shall, under oath, indicate the
  212  total of all admissions, the cardroom activities for the
  213  preceding calendar month, and such other information as may be
  214  prescribed by the division.
  215         Section 7. This act shall take effect July 1, 2012.