- Authorizes the governor to negotiate a compact on behalf of the state with the Seminole tribe to allow class III gaming on Seminole lands. The compact must then be approved by the legislature (Sec. 1).
-Allocates all revenue from the compact to the Education Enhancement Trust Fund (Sec. 1).
-Requires the tribe to make an annual donation to the Florida Council on Compulsive Gambling of no less than $250,000 per facility (Sec. 1).
-Prohibits anyone under 21 from entering onto the casino floor (Sec. 2).
-Requires the tribe to share annual revenues with the state with a minimum monthly payment of $150,000,000 unless total earnings go below $1.37 billion, in which case a smaller amount will be required (Sec. 2).
-Decreases tax rate for slot machines from 50% to 35% (Sec. 21).
-Increases the number of hours per day a card room can be open from 12 hours to 18 hours during the week and 24 hours on Saturday, Sunday, and certain holidays (Sec. 24).
-Eliminates the wager cap on poker and card room games (Sec. 12, 24).