Bill > S1908

This joint resolution proposes an amendment to the Florida State Constitution's Budget Stabilization Fund (BSF) provisions to enhance the state's fiscal management. The key changes include increasing the maximum BSF principal balance from 10% to 25% of revenue collections, mandating an annual transfer of up to $750 million to the fund (unless there's a revenue shortfall), and creating new rules for fund withdrawals. Specifically, if the BSF balance exceeds 20% of revenue collections, the legislature can withdraw up to 5% of the principal balance for critical, non-recurring state needs, but only with a two-thirds vote in each legislative house and no more frequently than once every three years. The resolution aims to provide more financial flexibility and stability by allowing the state to build a larger fiscal safety net while also establishing clear guidelines for when and how these funds can be accessed. The proposed amendment would be submitted to Florida voters for approval at the next general election, with the ballot language clearly explaining the proposed changes to the Budget Stabilization Fund.

https://www.flsenate.gov/Session/Bill/2025/1908