HB 35 Summary: Compact for a Balanced Budget

• Creates section 11.95 of Florida Statutes to adopt an interstate Compact for a Balanced Budget, exempt from Article V Constitutional Convention Act restrictions.

• Establishes a Compact Commission with one member per Member State and a Compact Administrator to coordinate efforts and encourage states to apply to Congress for an Article V convention.

• Proposes a specific Balanced Budget Amendment requiring total federal outlays not exceed receipts unless financed by authorized debt (initially 105% of outstanding debt on amendment's effective date), with state legislature approval required to increase debt limit.

• Designates Florida's President of the Senate and Speaker of the House as delegates to the convention, limited to proposing only the Balanced Budget Amendment with procedures governed by Robert's Rules of Order and specified convention rules.

• Terminates the compact when the Balanced Budget Amendment is ratified or automatically 7 years after the first state enacts it, whichever occurs first; exclusive venue for disputes is the U.S. District Court for the Northern District of Texas.