FL H5403

Redirects $250 million annually from the Debt Reduction Program to the Department of Corrections for capital improvements, spanning fiscal years 2026-2027 through 2066-2067 (40 years total)

Requires planning and construction of one new 4,800-bed correctional institution and one new 600-bed hospital unit with mental health services, beginning July 1, 2026

Authorizes the Division of Bond Finance to issue bonds for new facility construction only (not maintenance or repairs), with debt service paid from the appropriated funds

Creates a financing oversight committee with representatives from the Senate, House, Governor's Office of Policy and Budget, Department of Corrections, and Division of Bond Finance

Requires projects over $5 million to use a construction management entity, and mandates the department recommend closure of understaffed or high-cost facilities after new construction is completed