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FL S1908
Joint Resolution
AI Summary
- Proposes a constitutional amendment to increase the maximum principal balance cap of 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 balance up to 25% of revenue collections by June 30th of each fiscal year
- Allows the legislature to suspend the annual transfer requirement in any fiscal year in which funds are withdrawn from the budget stabilization fund to cover general revenue shortfalls
- Permits the legislature to withdraw up to 5% of the fund's principal balance for nonrecurring critical state needs when the balance exceeds 20% of revenue collections, requiring a two-thirds vote of each chamber and limited to no more than once every three years
- Would be submitted to Florida voters for approval or rejection at the next general election or an earlier specially authorized special election
Legislative Description
Budget Stabilization Fund
Last Action
Laid on Table, companion bill(s) passed, see HJR 5019 (Passed)
6/16/2025
Full Bill Text
No bill text available