Florida Senate - 2020 SB 1314 By Senator Thurston 33-01541-20 20201314__ 1 A bill to be entitled 2 An act relating to payments to the Greyhound Racing 3 Compensation Trust Fund; creating s. 550.916, F.S.; 4 requiring pari-mutuel permitholders to pay the 5 Division of Pari-mutuel Wagering within the Department 6 of Business and Professional Regulation a specified 7 percentage of the gross revenue derived from certain 8 wagers; requiring the division to deposit the funds 9 into the Greyhound Racing Compensation Trust Fund; 10 requiring the division to calculate the reduction in 11 certain expenses resulting from the ban on greyhound 12 racing; requiring the division to deposit an amount 13 equal to such calculation into the trust fund on a 14 specified date; creating s. 551.1065, F.S.; requiring 15 slot machine licensees to pay the division a specified 16 percentage of the monthly gross revenue derived from 17 slot machines; requiring the division to deposit the 18 funds into the Greyhound Racing Compensation Trust 19 Fund; providing for a future repeal; amending s. 20 849.086, F.S.; requiring cardroom licensees to pay the 21 division a specified percentage of the monthly gross 22 receipts; requiring the division to deposit the funds 23 into the Greyhound Racing Compensation Trust Fund; 24 providing for a future repeal; providing a directive 25 to the Division of Law Revision; providing contingent 26 effective dates. 27 28 Be It Enacted by the Legislature of the State of Florida: 29 30 Section 1. Section 550.916, Florida Statutes, is created to 31 read: 32 550.916 Payments to the Greyhound Racing Compensation Trust 33 Fund.— 34 (1) Each permitholder shall pay the division 10 percent of 35 its gross revenue derived from wagers made at the pari-mutuel 36 facility, or in this state as an advanced deposit wager, on 37 simulcast, intertrack, or live greyhound racing, as well as any 38 other form of live or recorded broadcast of greyhound racing. 39 The division shall deposit such funds into the Greyhound Racing 40 Compensation Trust Fund created pursuant to s. 550.915. 41 (2) The division shall calculate the total reduction in 42 operating expenses resulting from the constitutional ban on 43 greyhound racing, including, but not limited to, the reduction 44 in costs to operate a lab for conducting drug testing and the 45 reduction in costs for inspections. A total amount equaling such 46 reductions shall be paid to the Greyhound Racing Compensation 47 Trust Fund on the effective date of this act. 48 Section 2. Effective January 1, 2021, section 551.1065, 49 Florida Statutes, is created to read: 50 551.1065 Payments to Greyhound Racing Compensation Trust 51 Fund.— 52 (1) Each month, a slot machine licensee shall pay the 53 division 1 percent of its gross revenue derived from slot 54 machines from the previous month and the division shall deposit 55 such funds into the Greyhound Racing Compensation Trust Fund 56 created pursuant to s. 550.915. 57 (2) This section expires December 31, 2031. 58 Section 3. Paragraph (i) is added to subsection (13) of 59 section 849.086, Florida Statutes, to read: 60 849.086 Cardrooms authorized.— 61 (13) TAXES AND OTHER PAYMENTS.— 62 (i)1. Each month, a cardroom licensee shall pay the 63 division 4 percent of its gross receipts derived from the 64 previous month and the division shall deposit such funds into 65 the Greyhound Racing Compensation Trust Fund created pursuant to 66 s. 550.915. 67 2. This paragraph expires December 31, 2031. 68 Section 4. The Division of Law Revision is directed to 69 replace the phrase “the effective date of this act” wherever it 70 occurs in this act with the date the act becomes a law. 71 Section 5. Except as otherwise expressly provided in this 72 act, this act shall take effect on the same date that SB ___ or 73 similar legislation takes effect, if such legislation is adopted 74 in the same legislative session or an extension thereof and 75 becomes a law.