Florida Senate - 2009                                     SB 302
       
       
       
       By Senator Sobel
       
       
       
       
       31-00370A-09                                           2009302__
    1                        A bill to be entitled                      
    2         An act relating to K-12 public education funding;
    3         amending s. 551.106, F.S.; providing that funds
    4         derived from the slot machine revenue tax, which are
    5         transferred to the Educational Enhancement Trust Fund,
    6         be used only to supplement funding for K-12 public
    7         education; providing an effective date.
    8         
    9  Be It Enacted by the Legislature of the State of Florida:
   10         
   11         Section 1. Paragraph (c) of subsection (2) of section
   12  551.106, Florida Statutes, is amended to read:
   13         551.106 License fee; tax rate; penalties.—
   14         (2) TAX ON SLOT MACHINE REVENUES.—
   15         (c)1. Funds transferred to the Educational Enhancement
   16  Trust Fund under paragraph (b) shall be used only to supplement
   17  K-12 public education funding statewide.
   18         2. If necessary to comply with any covenant established
   19  pursuant to s. 1013.68(4), s. 1013.70(1), or s. 1013.737(3),
   20  funds transferred to the Educational Enhancement Trust Fund
   21  under paragraph (b) shall first be available to pay debt service
   22  on lottery bonds issued to fund school construction in the event
   23  lottery revenues are insufficient for such purpose or to satisfy
   24  debt service reserve requirements established in connection with
   25  lottery bonds. Moneys available pursuant to this subparagraph
   26  are subject to annual appropriation by the Legislature.
   27         Section 2. This act shall take effect July 1, 2009.