550.135  Division of moneys derived under this law.--All moneys that are deposited with the Treasurer to the credit of the Pari-mutuel Wagering Trust Fund shall be distributed in the following proportions, in the manner and at the times specified in this section:

(1)  In each fiscal year, the sum of $29,915,500 shall be divided into as many equal parts as there are counties in the state, and one part shall be distributed to each county; any excess of such moneys after the distributions to the counties shall be paid into the General Revenue Fund. If the sum available for distribution is less than $29,915,500, the deficiency shall be paid into the Pari-mutuel Wagering Trust Fund from the General Revenue Fund up to the amount of the deficiency if the deficiency does not exceed the deposits of pari-mutuel tax collections to the General Revenue Fund for that fiscal year.

(2)  The distribution among the several counties provided for in subsection (1) shall begin each fiscal year on or before January 5 and shall continue monthly for a total of 4 months. If during the fiscal year the sums available for distribution to the counties is not sufficient to make the scheduled distributions, the division shall immediately transfer to the Pari-mutuel Wagering Trust Fund from deposits made by the division to the General Revenue Fund during that fiscal year, the sums required to make the distributions. If on April 5 the sums distributed to the counties do not equal the maximum sum to be distributed, the division shall immediately transfer to the Pari-mutuel Wagering Trust Fund, from deposits made by the division to the General Revenue Fund during that fiscal year, the sums required to pay each county the sum entitled and shall make such payments on or before the end of that fiscal year. The Comptroller is appointed as the agent of the division to make the distribution to the counties and to make transfers as may be required by this section.

(3)  The daily license fee revenues collected pursuant to s. 550.0951(1) shall be used to fund the operating cost of the division and to provide a proportionate share of the operation of the office of the secretary and the Division of Administration of the Department of Business and Professional Regulation; however, other collections in the Pari-mutuel Wagering Trust Fund, after the payments required by subsections (1) and (2), may also be used to fund the operation of the division in accordance with authorized appropriations.

(4)  After payments to the counties have been completed as provided in subsections (1) and (2), all unappropriated funds in the Pari-mutuel Wagering Trust Fund shall be deposited to the Treasurer to the credit of the General Revenue Fund as provided in subsection (1).

(5)  If a local or special law requires that any moneys accruing to a county under this chapter, the same being division funds, be paid to the Treasurer of the state, as ex officio treasurer of the teachers' salary fund, to the credit of a district school board, those moneys shall be paid directly to the district school board.