Senate Bill sb0592
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Florida Senate - 2004 SB 592
By Senator Lynn
7-629-04
1 A bill to be entitled
2 An act relating to state lottery revenues;
3 amending ss. 24.115 and 24.121, F.S.; requiring
4 that unclaimed prize money be deposited into
5 the Educational Enhancement Trust Fund rather
6 than used for future prizes or special
7 promotions; amending s. 1010.70, F.S.;
8 providing for the proceeds of unclaimed prize
9 money to be distributed to community colleges
10 and universities pro rata, based on the
11 full-time-equivalent student enrollment for the
12 immediately preceding academic year; providing
13 an effective date.
14
15 Be It Enacted by the Legislature of the State of Florida:
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17 Section 1. Subsection (2) of section 24.115, Florida
18 Statutes, is amended to read:
19 24.115 Payment of prizes.--
20 (2) All unclaimed prize money shall be deposited in
21 the Educational Enhancement Trust Fund as provided in s.
22 24.121 added to the pool from which future prizes are to be
23 awarded or used for special prize promotions.
24 Section 2. Subsection (2) of section 24.121, Florida
25 Statutes, is amended to read:
26 24.121 Allocation of revenues and expenditure of funds
27 for public education.--
28 (2) Each fiscal year, at least 39 percent of the gross
29 revenue from the sale of on-line lottery tickets, variable
30 percentages of the gross revenue from the sale of instant
31 lottery tickets as determined by the department consistent
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Florida Senate - 2004 SB 592
7-629-04
1 with subsection (1), all unclaimed prize money, and other
2 earned revenue, excluding application processing fees, shall
3 be deposited in the Educational Enhancement Trust Fund, which
4 is hereby created in the State Treasury to be administered by
5 the Department of Education. The Department of the Lottery
6 shall transfer moneys to the Educational Enhancement Trust
7 Fund at least once each quarter. Funds in the Educational
8 Enhancement Trust Fund shall be used to the benefit of public
9 education in accordance with the provisions of this act.
10 Notwithstanding any other provision of law, lottery revenues
11 transferred to the Educational Enhancement Trust Fund shall be
12 reserved as needed and used to meet the requirements of the
13 documents authorizing the bonds issued by the state pursuant
14 to s. 1013.68, s. 1013.70, or s. 1013.737 or distributed to
15 school districts for the Classrooms First Program as provided
16 in s. 1013.68. Such lottery revenues are hereby pledged to the
17 payment of debt service on bonds issued by the state pursuant
18 to s. 1013.68, s. 1013.70, or s. 1013.737. Debt service
19 payable on bonds issued by the state pursuant to s. 1013.68,
20 s. 1013.70, or s. 1013.737 shall be payable from, and is
21 secured by a first lien on, the first lottery revenues
22 transferred to the Educational Enhancement Trust Fund in each
23 fiscal year. Amounts distributable to school districts that
24 request the issuance of bonds pursuant to s. 1013.68(3) are
25 hereby pledged to such bonds pursuant to s. 11(d), Art. VII of
26 the State Constitution.
27 Section 3. Section 1010.70, Florida Statutes, is
28 amended to read:
29 1010.70 Educational Enhancement Trust Fund.--
30 (1) Each fiscal year, at least 39 percent of the gross
31 revenue from the sale of lottery tickets, variable percentages
2
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Florida Senate - 2004 SB 592
7-629-04
1 of the gross revenue from the sale of instant lottery tickets
2 as determined by the department, and other earned revenue,
3 excluding application processing fees, shall be deposited in
4 the Educational Enhancement Trust Fund as provided in s.
5 24.121.
6 (2) All unclaimed prize money deposited in the
7 Educational Enhancement Trust Fund, as provided in s. 24.121,
8 shall be distributed annually to the community colleges and
9 state universities pro rata, based on the number of full-time
10 equivalent (FTE) students enrolled at each institution. The
11 FTE enrollment adopted at the enrollment estimating conference
12 for each sector within the community colleges and state
13 university system, as the final count for the immediately
14 preceding academic year, must be used to determine the pro
15 rata shares. The Department of Education shall transmit the
16 funds directly to each institution.
17 Section 4. This act shall take effect July 1, 2004.
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20 SENATE SUMMARY
21 Requires that unclaimed prize money from the state
lottery be deposited into the Educational Enhancement
22 Trust Fund rather than used for future prizes or special
promotions. Provides for the proceeds of such unclaimed
23 prize money to be distributed to community colleges and
universities pro rata, based on the full-time-equivalent
24 student enrollment for the immediately preceding academic
year.
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