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FL H5019
Joint Resolution
Status
Passed
6/17/2025
Primary Sponsor
Lawrence McClure
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AI Summary
- Proposes a constitutional amendment to Article III, Section 19 to increase the maximum cap on Florida's Budget Stabilization Fund from 10% to 25% of the prior fiscal year's net general revenue collections
- Requires the legislature to transfer the lesser of $750 million or the amount needed to bring the fund's balance to 25% of general revenue collections by June 30th of each fiscal year
- Allows the legislature to suspend the annual transfer if funds are withdrawn for revenue shortfalls or emergencies, if funds are withdrawn for critical state needs, or if a critical state need requires general revenue expenditures exceeding the transfer amount (the latter requiring a two-thirds vote and limited to once every five years)
- Permits the legislature to withdraw funds above the 15% threshold on a nonrecurring basis for critical state needs, subject to a two-thirds vote of each chamber in a separate bill, provided the balance does not fall below 10% of revenue collections
- Places the proposed amendment on the ballot at the next general election or an earlier special election for voter approval
Legislative Description
Budget Stabilization Fund
Last Action
Signed by Officers and filed with Secretary of State
6/17/2025
Committee Referrals
Budget Committee6/4/2025
Full Bill Text
No bill text available