Bill > H5019

This joint resolution proposes an amendment to the Florida State Constitution's Section 19 regarding the Budget Stabilization Fund (BSF), which is essentially a state savings account. The key provisions include increasing the maximum fund balance from 10% to 25% of general revenue collections and requiring an annual transfer of up to $750 million to the fund, unless specific conditions are met. The legislature can suspend the annual transfer if funds are already withdrawn from the BSF, if there's a critical state need, or if general revenue funds for a critical need would exceed the transfer amount. The resolution allows the legislature to withdraw funds from the BSF under two scenarios: first, to cover revenue shortfalls or emergencies, and second, if the fund balance exceeds 15% of revenue collections, to fund a critical state need on a nonrecurring basis. Any withdrawal for a critical state need would require a two-thirds vote in both legislative chambers and cannot reduce the fund balance below 10% of revenue collections. The amendment aims to provide more flexibility in managing the state's financial reserves while establishing clearer guidelines for fund usage and maintenance.

Budget and Finance

https://www.flsenate.gov/Session/Bill/2025/5019