| 1 | A bill to be entitled |
| 2 | An act relating to the state lottery; amending s. 24.115, |
| 3 | F.S.; requiring that all unclaimed prize money from |
| 4 | lottery tickets, except instant lottery tickets, be |
| 5 | deposited in the Educational Enhancement Trust Fund; |
| 6 | amending s. 24.121, F.S.; requiring that unclaimed prize |
| 7 | money deposited in the Educational Enhancement Trust Fund |
| 8 | be used only to provide funding for grades K-12 through |
| 9 | the Florida Education Finance Program; amending s. |
| 10 | 1010.70, F.S., relating to the Educational Enhancement |
| 11 | Trust Fund, to conform; providing an effective date. |
| 12 |
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| 13 | Be It Enacted by the Legislature of the State of Florida: |
| 14 |
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| 15 | Section 1. Subsection (2) of section 24.115, Florida |
| 16 | Statutes, is amended to read: |
| 17 | 24.115 Payment of prizes.-- |
| 18 | (2) All unclaimed prize money, except unclaimed prize |
| 19 | money from instant lottery tickets, shall be deposited in the |
| 20 | Educational Enhancement Trust Fund to be used to provide funding |
| 21 | for grades K-12 as provided in s. 24.121. Unclaimed prize money |
| 22 | from instant lottery tickets shall be added to the pool from |
| 23 | which future prizes are to be awarded or used for special prize |
| 24 | promotions. |
| 25 | Section 2. Subsection (2) of section 24.121, Florida |
| 26 | Statutes, is amended to read: |
| 27 | 24.121 Allocation of revenues and expenditure of funds for |
| 28 | public education.-- |
| 29 | (2) Each fiscal year, at least 39 percent of the gross |
| 30 | revenue from the sale of on-line lottery tickets, variable |
| 31 | percentages of the gross revenue from the sale of instant |
| 32 | lottery tickets as determined by the department consistent with |
| 33 | subsection (1), unclaimed prize money, except unclaimed prize |
| 34 | money from instant lottery tickets, and other earned revenue, |
| 35 | excluding application processing fees, shall be deposited in the |
| 36 | Educational Enhancement Trust Fund, which is hereby created in |
| 37 | the State Treasury to be administered by the Department of |
| 38 | Education. The Department of the Lottery shall transfer moneys |
| 39 | to the Educational Enhancement Trust Fund at least once each |
| 40 | quarter. Funds in the Educational Enhancement Trust Fund shall |
| 41 | be used to the benefit of public education in accordance with |
| 42 | the provisions of this act, except for funds from unclaimed |
| 43 | prize money, which shall be used only to provide funding for |
| 44 | grades K-12 through the Florida Education Finance Program. |
| 45 | Notwithstanding any other provision of law, lottery revenues |
| 46 | transferred to the Educational Enhancement Trust Fund shall be |
| 47 | reserved as needed and used to meet the requirements of the |
| 48 | documents authorizing the bonds issued by the state pursuant to |
| 49 | s. 1013.68, s. 1013.70, or s. 1013.737 or distributed to school |
| 50 | districts for the Classrooms First Program as provided in s. |
| 51 | 1013.68. Such lottery revenues are hereby pledged to the payment |
| 52 | of debt service on bonds issued by the state pursuant to s. |
| 53 | 1013.68, s. 1013.70, or s. 1013.737. Debt service payable on |
| 54 | bonds issued by the state pursuant to s. 1013.68, s. 1013.70, or |
| 55 | s. 1013.737 shall be payable from, and is secured by a first |
| 56 | lien on, the first lottery revenues transferred to the |
| 57 | Educational Enhancement Trust Fund in each fiscal year. Amounts |
| 58 | distributable to school districts that request the issuance of |
| 59 | bonds pursuant to s. 1013.68(3) are hereby pledged to such bonds |
| 60 | pursuant to s. 11(d), Art. VII of the State Constitution. |
| 61 | Section 3. Section 1010.70, Florida Statutes, is amended |
| 62 | to read: |
| 63 | 1010.70 Educational Enhancement Trust Fund.--Each fiscal |
| 64 | year, at least 39 percent of the gross revenue from the sale of |
| 65 | lottery tickets, variable percentages of the gross revenue from |
| 66 | the sale of instant lottery tickets as determined by the |
| 67 | department, unclaimed prize money, except unclaimed prize money |
| 68 | from instant lottery tickets, and other earned revenue, |
| 69 | excluding application processing fees, shall be deposited in the |
| 70 | Educational Enhancement Trust Fund as provided in s. 24.121. |
| 71 | Section 4. This act shall take effect July 1, 2005. |