House Bill hb2011er

    ENROLLED

    2002 Legislature                                       HB 2011



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  2         An act relating to the lottery; amending s.

  3         24.121, F.S.; providing rules for the

  4         allocation of lottery revenues and expenditure

  5         of funds for public education; providing an

  6         effective date.

  7

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

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10         Section 1.  Subsections (1) and (2) of section 24.121,

11  Florida Statutes, are amended to read:

12         24.121  Allocation of revenues and expenditure of funds

13  for public education.--

14         (1)  As nearly as practical, at least 50 percent of the

15  gross revenue from the sale of on-line lottery tickets and

16  variable percentages, as determined by the department, of the

17  gross revenue from the sale of instant lottery tickets shall

18  be returned to the public in the form of prizes paid by the

19  department or retailers as authorized by this act. The

20  variable percentages of gross revenue from the sale of instant

21  tickets returned to the public in the form of prizes shall be

22  established by the department in a manner designed to maximize

23  the amount of funds deposited under subsection (2).

24         (2)  Each fiscal year, at least 38 percent of the gross

25  revenue from the sale of on-line lottery tickets, variable

26  percentages of the gross revenue from the sale of instant

27  lottery tickets as determined by the department consistent

28  with subsection (1), and other earned revenue, excluding

29  application processing fees, shall be deposited in the

30  Educational Enhancement Trust Fund, which is hereby created in

31  the State Treasury to be administered by the Department of


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CODING: Words stricken are deletions; words underlined are additions.




    ENROLLED

    2002 Legislature                                       HB 2011



  1  Education. The Department of the Lottery shall transfer moneys

  2  to the Educational Enhancement Trust Fund at least once each

  3  quarter. Funds in the Educational Enhancement Trust Fund shall

  4  be used to the benefit of public education in accordance with

  5  the provisions of this act. Notwithstanding any other

  6  provision of law, a maximum of $180 million of lottery

  7  revenues transferred to the Educational Enhancement Trust Fund

  8  in fiscal year 1997-1998 and for 30 years thereafter shall be

  9  reserved as needed and used to meet the requirements of the

10  documents authorizing the bonds issued by the state pursuant

11  to s. 235.187 or s. 235.2195 or distributed to school

12  districts for the Classrooms First Program as provided in s.

13  235.187. Such lottery revenues are hereby pledged to the

14  payment of debt service on bonds issued by the state pursuant

15  to s. 235.187 or s. 235.2195. Debt service payable on bonds

16  issued by the state pursuant to s. 235.187 or s. 235.2195

17  shall be payable from the first lottery revenues transferred

18  to the Educational Enhancement Trust Fund in each fiscal year.

19  Amounts distributable to school districts that request the

20  issuance of bonds pursuant to s. 235.187(3) are hereby pledged

21  to such bonds pursuant to s. 11(d), Art. VII of the State

22  Constitution. The amounts distributed through the Classrooms

23  First Program shall equal $145 million in each fiscal year.

24  These funds are intended to provide up to $2.5 billion for

25  public school facilities.

26         Section 2.  This act shall take effect July 1, 2002.

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CODING: Words stricken are deletions; words underlined are additions.