summary
Introduced
02/09/2022
02/09/2022
In Committee
02/17/2022
02/17/2022
Crossed Over
03/14/2022
03/14/2022
Passed
03/14/2022
03/14/2022
Dead
Vetoed
06/02/2022
06/02/2022
Introduced Session
2022 Regular Session
Bill Summary
An act relating to the Budgeting for Inflation that Drives Elevated Needs Fund; creating s. 216.1813, F.S.; creating the Budgeting for Inflation that Drives Elevated Needs Fund within the Executive Office of the Governor; providing the purpose of the fund; providing for the deposit and use of funds; providing for future review and termination of the fund; directing the Chief Financial Officer to transfer a specified amount to the fund; providing an effective date.
AI Summary
This bill creates the Inflation Fund within the Executive Office of the Governor to serve as the primary funding source to offset budget amendments by state agencies or the judicial branch that are necessary to counter increased inflation that exceeds funds appropriated in the General Appropriations Act. The bill recognizes that federal economic policies have resulted in an unprecedented increase in inflation, and that Florida must take action to ensure the existence of a sufficient source of funds to provide spending flexibility if budget amendments are necessary. The Inflation Fund is set to terminate on July 1, 2026, unless terminated sooner, and will be subject to review before its scheduled termination.
Committee Categories
Budget and Finance
Sponsors (2)
Other Sponsors (1)
Appropriations Committee (H)
Last Action
Vetoed by Governor (on 06/02/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
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