1999-00 2000-01
Opening Balance $33,467,000 $8,437,200
Operating Revenues
Ticket Sales $421,776,400 $427,279,200
Retailer Fees and Miscellaneous 84,000 84,000
Gross Revenues $421,860,400 $427,363,200
Expenditures
Prizes $241,690,100 $244,368,500
Basic and Bonus Retailer Compensation 1 0 30,573,800
Vendor Payments 2 0 12,419,000
General Program Operations 3 0 0
Appropriation to DOJ - Lottery Enforcement 4 0 0
Appropriation to DOR -- Credit Administration 5 130,600 152,900
Appropriation to Counties and Cities--Credit Certification 6 892,500 0
Total Expenditures $242,713,200 $287,514,200
Net Proceeds $179,147,200 $139,849,000
Interest Earnings $3,730,000 $2,400,000
Gaming-Related Revenue 7 $4,688,300 $3,302,200
Total Available for Tax Relief 8 $221,032,500 $153,988,400
Appropriations for Property Tax Relief
Lottery and Gaming Credit9 $212,595,300 $130,441,100
Farmland Tax Relief Credit 10 0 15,000,000
Total Appropriations for Property Tax Relief $212,595,300 $145,441,100
Gross Closing Balance $8,437,200 $8,547,300
Reserve (2% of Gross Revenues) $8,437,200 $8,547,300
Net Closing Balance $0 $0
1 Under Act 9, $27,927,600 GPR is provided for this purpose in 1999-00.
2 Under Act 9, $12,178,700 GPR is provided for this purpose in 1999-00.
3 Under Act 9, $21,095,800 GPR is provided for this purpose in 1999-00. Funding in 2000-01 ($21,095,800) is not provided at this time.
4 Under Act 9, $226,000 GPR is provided for this purpose in 1999-00. Funding in 2000-01 ($226,700) is not provided at this time.
5 The SEG funding indicated was provided on September 16, 1999, under s. 13.10 of the statutes. In addition, $43,300 GPR is provided under Act 9 for this purpose in 1999-00.
6 Estimated amount based on 1999 Act 5 provisions.
7 Estimated amounts based on constitutional requirement and 1999 Act 5 provisions.
8 Opening balance, net proceeds, interest earnings and gaming-related revenue.
9 Restoration of lottery general program operations funding in 2000-01 ($21,095,800 SEG) and DOJ enforcement funding in 2000-01 ($226,700 SEG) would reduce the estimated lottery and gaming credit amount in 2000-01 to $109,118,600.
10 Under Act 9, $15,000,000 GPR is provided for this purpose in 1999-00.
FIGURE 12
1999-01 Lottery Fund Expenditures*
Percent
Amount of Total
Operating Expenditures ($530,227,400 ) (59.7%)
Prizes 486,058,600 54.7
Retailer Compensation 30,573,800 3.5
Vendor Payments 12,419,000 1.4
Appropriations to DOJ and DOR 1,176,000 0.1
Appropriations for Tax Relief (358,036,400 ) (40.3)
Lottery Property Tax Credit 343,036,400 38.6
Farmland Tax Relief Credit 15,000,000 1.7
TOTAL $888,263,800 100.0%
*Figure 12 reflects only segregated lottery fund expenditure estimates (as of January, 2000) and does not include lottery activities funded from the general fund in 1999-00.
GENERAL FUND TAXES
1. GENERAL FUND TAX CHANGES
The following table outlines the general fund tax changes recommended by the Governor, Joint Committee on Finance and Legislature along with the estimated fiscal effect in the 1999-01 biennium. The next column shows the tax changes under Act 9 which include the effect of the Governor's partial vetoes. The final column shows the tax changes through Act 10 (the sales tax rebate legislation) following the Governor's vetoes. The $700 million sales tax rebate is not shown in the table because the rebate will be paid from a sum sufficient appropriation rather than accounted for as a reduction in tax revenues. (A summary of the sales tax rebate legislation follows the "General Fund Taxes" section of this document.) The items relating to the integrated tax system, nexus investigations, temporary events and delinquent tax measures are summarized under "Revenue -- Tax Administration."
1999-01 General Fund Tax Changes--Biennial Fiscal Effects
(In Millions)
Joint
Governor Finance Legislature Act 9 Act 10
Individual Income Tax
Income Tax Modifications -$289.00 -$317.90 -$474.20 -$718.80 -$78.00
Credit for Military Income 0.00 0.00 -0.26 -0.26 -0.26
Taxation of Trusts 0.00 -0.30 0.00 0.00 0.00
Internal Revenue Code Update 0.00 6.99 6.99 6.99 6.99
Delinquent Tax Measures 0.00 5.10 5.10 5.10 5.10
Corporate Income Tax
Single Sales Apportionment -74.60 -12.50 0.00 0.00 0.00
