Senate Bill sb0482c1
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Florida Senate - 2005 CS for SB 482
By the Committee on Government Efficiency Appropriations; and
Senator Clary
593-1905-05
1 A bill to be entitled
2 An act relating to the state lottery; amending
3 s. 24.115, F.S.; providing for the deposit of a
4 percentage of unclaimed prize money in the
5 Educational Enhancement Trust Fund; authorizing
6 80 percent of unclaimed prize money to be used
7 to match private contributions received under
8 certain postsecondary matching grant programs;
9 amending s. 24.121, F.S.; revising provisions
10 relating to the allocation of revenues for
11 public education; amending s. 1010.70, F.S.;
12 conforming provisions; providing an effective
13 date.
14
15 Be It Enacted by the Legislature of the State of Florida:
16
17 Section 1. Subsection (2) of section 24.115, Florida
18 Statutes, is amended to read:
19 24.115 Payment of prizes.--
20 (2)(a) Eighty percent of all unclaimed prize money
21 shall be deposited in the Educational Enhancement Trust Fund
22 consistent with the provisions of s. 24.121(2). Subject to
23 appropriations provided in the General Appropriations Act,
24 these funds may be used to match private contributions
25 received under the postsecondary matching grant programs
26 established in ss. 1011.32, 1011.85, 1011.94, and 1013.79.
27 (b) The remaining 20 percent of All unclaimed prize
28 money shall be added to the pool from which future prizes are
29 to be awarded or used for special prize promotions.
30 Section 2. Subsections (1) and (2) of section 24.121,
31 Florida Statutes, are amended to read:
1
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Florida Senate - 2005 CS for SB 482
593-1905-05
1 24.121 Allocation of revenues and expenditure of funds
2 for public education.--
3 (1) Variable percentages As nearly as practical, at
4 least 50 percent of the gross revenue from the sale of on-line
5 and instant lottery tickets and variable percentages, as
6 determined by the department, of the gross revenue from the
7 sale of instant lottery tickets shall be returned to the
8 public in the form of prizes paid by the department or
9 retailers as authorized by this act. The variable percentages
10 of gross revenue from the sale of on-line and instant lottery
11 tickets returned to the public in the form of prizes shall be
12 established by the department in a manner designed to maximize
13 the amount of funds deposited under subsection (2).
14 (2) Each fiscal year, at least 39 percent of the gross
15 revenue from the sale of on-line lottery tickets, variable
16 percentages of the gross revenue from the sale of on-line and
17 instant lottery tickets as determined by the department
18 consistent with subsection (1), and other earned revenue,
19 excluding application processing fees, shall be deposited in
20 the Educational Enhancement Trust Fund, which is hereby
21 created in the State Treasury to be administered by the
22 Department of Education. The Department of the Lottery shall
23 transfer moneys to the Educational Enhancement Trust Fund at
24 least once each quarter. Funds in the Educational Enhancement
25 Trust Fund shall be used to the benefit of public education in
26 accordance with the provisions of this act. Notwithstanding
27 any other provision of law, lottery revenues transferred to
28 the Educational Enhancement Trust Fund shall be reserved as
29 needed and used to meet the requirements of the documents
30 authorizing the bonds issued by the state pursuant to s.
31 1013.68, s. 1013.70, or s. 1013.737 or distributed to school
2
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Florida Senate - 2005 CS for SB 482
593-1905-05
1 districts for the Classrooms First Program as provided in s.
2 1013.68. Such lottery revenues are hereby pledged to the
3 payment of debt service on bonds issued by the state pursuant
4 to s. 1013.68, s. 1013.70, or s. 1013.737. Debt service
5 payable on bonds issued by the state pursuant to s. 1013.68,
6 s. 1013.70, or s. 1013.737 shall be payable from, and is
7 secured by a first lien on, the first lottery revenues
8 transferred to the Educational Enhancement Trust Fund in each
9 fiscal year. Amounts distributable to school districts that
10 request the issuance of bonds pursuant to s. 1013.68(3) are
11 hereby pledged to such bonds pursuant to s. 11(d), Art. VII of
12 the State Constitution.
13 Section 3. Section 1010.70, Florida Statutes, is
14 amended to read:
15 1010.70 Educational Enhancement Trust Fund.--Each
16 fiscal year, at least 39 percent of the gross revenue from the
17 sale of lottery tickets, variable percentages of the gross
18 revenue from the sale of on-line and instant lottery tickets
19 as determined by the department, and other earned revenue,
20 excluding application processing fees, shall be deposited in
21 the Educational Enhancement Trust Fund as provided in s.
22 24.121.
23 Section 4. This act shall take effect July 1, 2005.
24
25 STATEMENT OF SUBSTANTIAL CHANGES CONTAINED IN
COMMITTEE SUBSTITUTE FOR
26 SB 482
27
28 The committee substitute provides that subject to
appropriations, the 80% of all unclaimed prize money deposited
29 into the Educational Enhancement Trust Fund may be used to
match private contributions received under postsecondary
30 matching grant programs established in ss. 1011.32, 1011.85,
1011.94, and 1013.79, F.S.
31
3
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