HB 749

1	A bill to be entitled
2	An act relating to the gaming compact between the Seminole
3	Tribe and the State of Florida; amending the compact,
4	codified as s. 285.711, F.S., to provide for the
5	distribution of funds used for the purposes of offsetting
6	the impacts of the Tribe's Facilities on the operations of
7	local governments; providing an effective date.
8
9	Be It Enacted by the Legislature of the State of Florida:
10
11	Section 1.  Part XI of the Seminole Tribe of Florida and
12	State of Florida Gaming Compact, codified as section 285.711,
13	Florida Statutes, is amended to read:
14	285.711  Gaming compact between the Seminole Tribe and the
15	State of Florida.-The Governor is authorized and directed to
16	negotiate and execute a gaming compact with the Seminole Tribe
17	of Florida on behalf of the State of Florida subject to
18	ratification by the Legislature, in the form substantially as
19	follows:
20
21	Gaming Compact Between the Seminole Tribe of Florida and
22	the State of Florida
23
24	This Compact is made and entered into by and between the
25	Seminole Tribe of Florida, a federally recognized Indian Tribe,
26	and the State of Florida, with respect to the operation of
27	Covered Games on the Tribe's Indian lands as defined by the
28	Indian Gaming Regulatory Act, 25 U.S.C. ss. 2701 et seq.
29
30	PART XI.
31
32	PAYMENTS TO THE STATE OF FLORIDA.-
33	A.  The parties acknowledge and recognize that this Compact
34	provides the Tribe with partial but substantial exclusivity and
35	other valuable consideration consistent with the goals of the
36	Indian Gaming Regulatory Act, including special opportunities
37	for tribal economic development through gaming within the
38	external boundaries of Florida with respect to the play of
39	Covered Games. In consideration thereof, the Tribe covenants and
40	agrees, subject to the conditions agreed upon in Part XII. of
41	this Compact, to make payments to the State derived from Net Win
42	as set forth in Section B. The Tribe further agrees to convert
43	all of its Class II video bingo terminals (or their equivalents)
44	to Class III slot machines within twenty-four (24) months after
45	the Effective Date of this Compact, or the payment to the State
46	shall be calculated as if the conversion has been completed,
47	whether or not the Tribe has fully executed its conversion. The
48	Tribe further agrees that it will not purchase or lease any new
49	Class II video bingo terminals (or their equivalents) after the
50	Effective Date of this Compact.
51	B.  Payment schedule.-Subject to the provisions in this
52	Part of the Compact, and subject to the limitations agreed upon
53	in Part XII. of the Compact, the amounts paid by the Tribe to
54	the State shall be calculated as follows:
55	1.  For each Revenue Sharing Cycle, the Tribe agrees to pay
56	not less than a Guaranteed Minimum Payment of One Hundred Fifty
57	Million Dollars ($150,000,000) if the Revenue Share calculated
58	for that Revenue Sharing Cycle under subsection 3., below, is
59	less than the Guaranteed Minimum Payment.
60	2.  All Guaranteed Minimum Payments shall be deducted from
61	and credited toward the Revenue Share in each Revenue Sharing
62	Cycle set forth below in subsection 3.
63	3.  For each Revenue Sharing Cycle, to the extent that the
64	Revenue Share exceeds the Guaranteed Minimum Payment for each
65	Revenue Sharing Cycle, the Tribe agrees, as further provided in
66	subsection 4., to pay a Revenue Share for that Revenue Sharing
67	Cycle equal to the total amount calculated from the operation
68	and play of Covered Games from each Revenue Sharing Cycle as
69	follows:
70	(a)  Twelve percent (12%) of all amounts up to Two and one-
71	half Billion Dollars ($2,500,000,000) of Net Win received by the
72	Tribe from the operation and play of Covered Games from each
73	Revenue Sharing Cycle;
74	(b)  Fifteen percent (15%) of all amounts between Two and
75	one-half Billion and One Dollars ($2,500,000,001) and Three
76	Billion Dollars ($3,000,000,000) of Net Win received by the
77	Tribe from the operation and play of Covered Games from each
78	Revenue Sharing Cycle;
79	(c)  Twenty percent (20%) of all amounts between Three
80	Billion and One Dollars ($3,000,000,001) and Four Billion
81	Dollars ($4,000,000,000) of Net Win received by the Tribe from
82	the operation and play of Covered Games from each Revenue
83	Sharing Cycle;
84	(d)  Twenty-two and one-half percent (22.5%) of all amounts
85	between Four Billion and One Dollars ($4,000,000,001) and Four
86	and one-half Billion Dollars ($4,500,000,000) of Net Win
87	Received by the Tribe from the operation and play of Covered
88	Games from each Revenue Sharing Cycle; and
89	(e)  Twenty-five percent (25%) of all amounts over Four and
90	one-half Billion Dollars ($4,500,000,000) of Net Win received by
91	the Tribe from the operation and play of Covered Games from each
92	Revenue Sharing Cycle.
93	4.(a)  On or before the fifteenth day of the month
94	following the first month of the Revenue Sharing Cycle, the
95	Tribe will remit to the State the greater amount of eight and
96	one-third percent (8.3%) of the estimated annual Revenue Share
97	or eight and one-third percent (8.3%) of the Guaranteed Minimum
98	Payment ("the monthly payment").
99	(b)  The Tribe will make available to the State at the time
100	of the monthly payment the basis for the calculation of the
101	payment.
102	(c)  Each month the Tribe will internally "true up" the
103	calculation of the estimated Revenue Share based on the Tribe's
104	unaudited financial statements related to Covered Games.
105	5.(a)  On or before the forty-fifth day after the third
106	month, sixth month, ninth month, and twelfth month of each
107	Revenue Sharing Cycle, provided that the twelve (12) month
108	period does not coincide with the Tribe's fiscal year end date
109	as indicated in paragraph (c), the Tribe will provide the State
110	with an audit report by its independent auditors as to the
111	accuracy of the annual Revenue Share calculation.
112	(b)  For each quarter of these Revenue Sharing Cycles the
113	Tribe will engage its independent auditors to conduct a review
114	of the unaudited net revenue from Covered Games. On or before
115	the one hundred and twentieth day after the end of the Tribe's
116	fiscal year, the Tribe will require its independent auditors to
117	provide an audit report to verify Net Win for Covered Games and
118	the related payment of the annual Revenue Share to the SCA for
119	State review.
120	(c)  If the twelfth month of each Revenue Sharing Cycle
121	does not coincide with the Tribe's fiscal year, the Tribe will
122	require its independent auditors to deduct Net Win from Covered
123	Games for any of the months that are outside of the Revenue
124	Sharing Cycle and to include Net Win from Covered Games for
125	those months which fall outside of the Tribe's audit period but
126	fall within the Revenue Sharing Cycle, prior to issuing the
127	audit report.
128	(d)  No later than thirty (30) calendar days after the day
129	the audit report is issued, the Tribe will remit to the State
130	any underpayment of the annual Revenue Share, and the State at
131	its discretion will either reimburse to the Tribe any
132	overpayment of the annual Revenue Share or authorize the
133	overpayment to be deducted from the next monthly payment.
134	C.  Payments pursuant to Sections A. and B. above shall be
135	made to the State via electronic funds transfer in a manner
136	directed by the SCA for immediate transfer into the Educational
137	Enhancement Trust Fund of the Department of Education. Payments
138	will be due in accordance with the payment schedule set forth in
139	Section B. The appropriation of any payments received by the
140	State pursuant to this Compact lies within the exclusive
141	prerogative of the Legislature.
142	D.  The Annual Oversight Assessment to reimburse the State
143	for the actual costs of the operation of the SCA to perform its
144	monitoring functions as defined in this Compact shall be
145	determined and paid in quarterly installments within thirty (30)
146	calendar days of receipt by the Tribe of an invoice from the
147	SCA. The Tribe reserves the right to audit the invoices on an
148	annual basis, a copy of which will be provided to the SCA, and
149	any discrepancies found therein shall be reconciled within
150	forty-five (45) calendar days of receipt of the audit by the
151	SCA. Out-of-pocket expenses to be incurred by the Governor or
152	his designee performing functions of the SCA unless and until
153	the SCA is designated by the Legislature shall be advanced by
154	the Tribe upon submission of properly documented requests.
155	E.  As provided for 25 U.S.C. s. 2710(b)(2)(B)(v), the
156	Tribe agrees to pay to the State an additional amount equal to
157	three percent (3%) of the annual amount set forth in Section B.
158	of this Part, which funds shall be used for the purposes of
159	offsetting the impacts of the Tribe's Facilities on the
160	operations of local governments. The additional three percent
161	(3%) shall be known as the "Local Government Share." The Local
162	Government Share shall be distributed to county and municipal
163	governments for the purposes of offsetting the impacts of the
164	Tribe's gaming facilities on the operations of local
165	governments. The three percent (3%) shall be calculated by
166	determining the proportionate Revenue Share generated by each
167	facility as a portion of the total annual Revenue Share paid by
168	the Tribe to the State and adding three percent (3%) thereto.
169	Said three percent (3%) shall be paid by the Tribe to the State
170	and distributed by the State at the same date and time as the
171	Revenue Share (referenced herein). The distribution of the Local
172	Government Share shall be as follows:
173	1.  The Seminole Indian Casino on the Brighton Indian
174	Reservation: Glades County shall receive one hundred percent
175	(100%) of the Local Government Share from this facility.
176	2.  The Seminole Indian Casino in the City of Coconut Creek
177	in Broward County: Broward County shall receive seven and one-
178	half percent (7.5%), the City of Coconut Creek shall receive
179	sixty-five percent (65%), the City of Coral Springs shall
180	receive fifteen percent (15%), the City of Margate shall receive
181	ten percent (10%), and the City of Parkland shall receive two
182	and one-half percent (2.5%) of the Local Government Share from
183	this facility.
184	3.  The Seminole Indian Casino in the City of Hollywood in
185	Broward County: Broward County shall receive fifteen percent
186	(15%), the City of Hollywood shall receive sixty-five percent
187	(65%), the Town of Davie shall receive ten percent (10%), and
188	the City of Dania Beach shall receive ten percent (10%) of the
189	Local Government Share from this facility.
190	4.  The Seminole Indian Casino in Immokalee in Collier
191	County: Collier County shall receive one hundred percent (100%)
192	of the Local Government Share from this facility.
193	5.  The Seminole Indian Big Cypress Casino in Hendry
194	County: Hendry County shall receive one hundred percent (100%)
195	of the Local Government Share from this facility.
196	6.  The Seminole Hard Rock Hotel & Casino in the City of
197	Hollywood in Broward County: Broward County shall receive
198	fifteen percent (15%), the City of Hollywood shall receive
199	sixty-five percent (65%), the Town of Davie shall receive ten
200	percent (10%), and the City of Dania Beach shall receive ten
201	percent (10%) of the Local Government Share from this facility.
202	7.  Seminole Hard Rock Hotel & Casino in the City of Tampa
203	in Hillsborough County: Hillsborough County shall receive one
204	hundred percent (100%) of the Local Government Share from this
205	facility.
206	F.  Any moneys remitted by the Tribe before the Effective
207	Date of this Compact shall be deemed forfeited by the Tribe and
208	released to the State without further obligation or encumbrance.
209	Acceptance and appropriation of such funds does not legitimize,
210	validate, or otherwise ratify any previously proposed compact or
211	the operation of Class III games by the Tribe for any period
212	prior to the Effective Date of this Compact.
213	G.  Except as expressly provided in this Part, nothing in
214	this Compact shall be deemed to require the Tribe to make
215	payments of any kind to the State or any of its agencies.
216	Section 2.  This act shall take effect July 1, 2010.

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