Florida Changes to Budget Stabilization Fund Amendment (2026)

Florida Changes to Budget Stabilization Fund Amendment
Election date November 3, 2026
Topic Budget stabilization funds
Status On the ballot
Type Legislatively referred constitutional amendment	Origin State legislature

The Florida Changes to Budget Stabilization Fund Amendment is on the ballot in Florida as a legislatively referred constitutional amendment on November 3, 2026.

A "yes" vote supports amending the state constitution to: increase the amount of funds that may be retained in the budget stabilization fund from 10% to 25% of net general revenue; require an annual transfer to the fund equal to $750 million or 25% of the general revenue collections (whichever is lesser); and allow the legislature to suspend the transfer under certain conditions.

A "no" vote opposes amending the state constitution to make changes to the budget stabilization fund.

Overview

What would the constitutional amendment do?

See also: Measure design

The amendment would increase the maximum amount of revenue that can be retained in the budget stabilization fund (BSF) from 10% to 25% of the state's net general revenue. It would also require the legislature to transfer an amount into the fund each year. The amount transferred would be either $750 million or however much is needed to bring the fund up to the 25% limit, whichever is less. For fiscal year 2024-2025, the amount in the BSF was 9.3% of the state’s revenue.

The amendment would allow the legislature to suspend the transfer if the fund is used to cover revenue shortfalls or emergency spending, or the legislature determines and passes a bill by a two-thirds vote that there is a critical need that supersedes the transfer to the fund.

What is a Budget Stabilization Fund?

See also: Florida Budget Stabilization Fund

Budget stabilization funds are a dedicated fund where states can place revenue that will be used to finance unexpected deficits or emergencies. All 50 states have some form of a budget stabilization fund, but they are not all financed or administered in the same way. Some states require a flat annual contribution, while others require a portion or all surplus revenue be placed in the fund at the end of a fiscal year.

The Florida BSF was created in 1992 after voters approved Amendment 4. The constitution requires that the balance of the Florida BSF not fall below 5% of that year's net revenue collections. As of 2025, there was no constitutional language that required an annual contribution to the fund; state statute determined how the fund is financed and replenished.

Measure design

See also: Text of measure

Increase the Maximum Revenue in the Budget Stabilization Fund

The amendment would increase the maximum amount of revenue that can be retained in the budget stabilization fund. The constitution limits the amount of revenue in the fund as 10% of the last fiscal year's revenue collections for the general revenue fund. The constitutional amendment would change the limit to 25% of revenue collections.

Annual Transfer to the Budget Stabilization Fund

The amendment would require the legislature to transfer an amount into the fund each year. The amount transferred would be either $750 million or however much is needed to bring the fund up to the 25% limit, whichever is less.

Requirements to Suspend the Annual Revenue Transfer to the Budget Stabilization Fund

The amendment would permit the legislature to suspend the annual revenue transfer to the fund under one of the following circumstances:

• No more than once every five years, the legislature determines that there is a critical state need that requires funding in an amount exceeding that which would have been transferred into the BSF, and two-thirds of the legislature approves the suspension of the transfer; or
• The legislature withdraws funds from the budget stabilization fund during the same fiscal year.

Permitted Withdrawal of Revenue from the Budget Stabilization Fund

The amendment would permit the legislature to withdraw funds under threeconditions:

• The legislature passes a bill to withdraw funds to provide revenue for an emergency;
• The legislature passes a bill to withdraw funds to cover revenue shortfalls in the general revenue fund; or
• The legislature determines there is a critical state need, the principal balance of the BSF is greater than 15% of state revenue collections, and two-thirds of the legislature approves the withdrawal of funds.

Text of measure

Ballot title

The ballot title for the amendment is below.

“

CONSTITUTIONAL AMENDMENT ARTICLE III, SECTION 19 BUDGET STABILIZATION FUND.—Proposing an amendment to the State Constitution to increase the amount of funds that may be retained in the budget stabilization fund from 10% to 25% of general revenue collections, require the legislature to transfer the lesser of $750 million or the amount required to reach 25% of the general revenue collections each year unless certain conditions are met, and allow the legislature to withdraw funds for critical state needs.

”

Constitutional changes

See also: Article III, Florida Constitution

The ballot measure would amend Section 19 of Article III of the Florida Constitution. The following underlined text would be added and struck-through text would be deleted:

Note: Hover over the text and scroll to see the full text.

SECTION 19.

State Budgeting, Planning and Appropriations Processes.—

(a) ANNUAL BUDGETING.

(1) General law shall prescribe the adoption of annual state budgetary and planning processes and require that detail reflecting the annualized costs of the state budget and reflecting the nonrecurring costs of the budget requests shall accompany state department and agency legislative budget requests, the governor's recommended budget, and appropriation bills.

(2) Unless approved by a three-fifths vote of the membership of each house, appropriations made for recurring purposes from nonrecurring general revenue funds for any fiscal year shall not exceed three percent of the total general revenue funds estimated to be available at the time such appropriation is made.

(3) As prescribed by general law, each state department and agency shall be required to submit a legislative budget request that is based upon and that reflects the long-range financial outlook adopted by the joint legislative budget commission or that specifically explains any variance from the long-range financial outlook contained in the request.

(4) For purposes of this section, the terms department and agency shall include the judicial branch.

(b) APPROPRIATION BILLS FORMAT. Separate sections within the general appropriation bill shall be used for each major program area of the state budget; major program areas shall include: education enhancement "lottery" trust fund items; education (all other funds); human services; criminal justice and corrections; natural resources, environment, growth management, and transportation; general government; and judicial branch. Each major program area shall include an itemization of expenditures for: state operations; state capital outlay; aid to local governments and nonprofit organizations operations; aid to local governments and nonprofit organizations capital outlay; federal funds and the associated state matching funds; spending authorizations for operations; and spending authorizations for capital outlay. Additionally, appropriation bills passed by the legislature shall include an itemization of specific appropriations that exceed one million dollars ($1,000,000.00) in 1992 dollars. For purposes of this subsection, "specific appropriation," "itemization," and "major program area" shall be defined by law. This itemization threshold shall be adjusted by general law every four years to reflect the rate of inflation or deflation as indicated in the Consumer Price Index for All Urban Consumers, U.S. City Average, All Items, or successor reports as reported by the United States Department of Labor, Bureau of Labor Statistics or its successor. Substantive bills containing appropriations shall also be subject to the itemization requirement mandated under this provision and shall be subject to the governor's specific appropriation veto power described in Article III, Section 8.

(c) APPROPRIATIONS PROCESS.

(1) No later than September 15 of each year, the joint legislative budget commission shall issue a long-range financial outlook setting out recommended fiscal strategies for the state and its departments and agencies in order to assist the legislature in making budget decisions. The long-range financial outlook must include major workload and revenue estimates. In order to implement this paragraph, the joint legislative budget commission shall use current official consensus estimates and may request the development of additional official estimates.

(2) The joint legislative budget commission shall seek input from the public and from the executive and judicial branches when developing and recommending the long-range financial outlook.

(3) The legislature shall prescribe by general law conditions under which limited adjustments to the budget, as recommended by the governor or the chief justice of the supreme court, may be approved without the concurrence of the full legislature.

(d) SEVENTY-TWO HOUR PUBLIC REVIEW PERIOD. All general appropriation bills shall be furnished to each member of the legislature, each member of the cabinet, the governor, and the chief justice of the supreme court at least seventy-two hours before final passage by either house of the legislature of the bill in the form that will be presented to the governor.

(e) FINAL BUDGET REPORT. A final budget report shall be prepared as prescribed by general law. The final budget report shall be produced no later than the 120th day after the beginning of the fiscal year, and copies of the report shall be furnished to each member of the legislature, the head of each department and agency of the state, the auditor general, and the chief justice of the supreme court.

(f) TRUST FUNDS.

(1) No trust fund of the State of Florida or other public body may be created or re-created by law without a three-fifths vote of the membership of each house of the legislature in a 107 separate bill for that purpose only.

(2) State trust funds shall terminate not more than four years after the effective date of the act authorizing the initial creation of the trust fund. By law the legislature may set a shorter time period for which any trust fund is authorized.

(3) Trust funds required by federal programs or mandates; trust funds established for bond covenants, indentures, or resolutions, whose revenues are legally pledged by the state or public body to meet debt service or other financial requirements of any debt obligations of the state or any public body; the state transportation trust fund; the trust fund containing the net annual proceeds from the Florida Education Lotteries; the Florida retirement trust fund; trust funds for institutions under the management of the Board of Governors, where such trust funds are for auxiliary enterprises and contracts, grants, and donations, as those terms are defined by general law; trust funds that serve as clearing funds or accounts for the chief financial officer or state agencies; trust funds that account for assets held by the state in a trustee capacity as an agent or fiduciary for individuals, private organizations, or other governmental units; and other trust funds authorized by this Constitution, are not subject to the requirements set forth in paragraph (2) of this subsection.

(4) All cash balances and income of any trust funds abolished under this subsection shall be deposited into the general revenue fund.

(g) BUDGET STABILIZATION FUND.

(1) For purposes of this subsection, the term "revenue collections" means the last completed fiscal year's net revenue collections for the general revenue fund.

(2) Subject to the provisions of this subsection, an amount equal to at least 5% of the last completed fiscal year's net revenue collections for the general revenue fund shall be retained in the budget stabilization fund. The budget stabilization fund's principal balance shall not exceed an amount equal to 25% 10% of the last completed fiscal year's net revenue collections for the general revenue fund.

(3) The legislature shall transfer the lesser of $750 million or the amount required to increase the principal balance of the budget stabilization fund to an amount equal to 25% of revenue collections from the general revenue fund to the budget stabilization fund no later than June 30th of each fiscal year. The legislature may suspend this transfer in a fiscal year in which:

a. Funds are withdrawn from the budget stabilization fund pursuant to paragraph (4);

b. Funds are withdrawn from the budget stabilization fund for the purpose of funding a critical state need pursuant to paragraph (5); or

c. The legislature determines there is a critical state need that requires the expenditure of general revenue funds in an amount that exceeds the transfer amount required by this paragraph. A suspension for a critical state need pursuant to this subparagraph must be approved by a two-thirds vote of the membership of each house of the legislature in a separate bill for that purpose only and may not occur more than once every five years.

(4) The legislature shall provide criteria for withdrawing funds from the budget stabilization fund in a separate bill for that purpose only and only for the purpose of covering revenue shortfalls of the general revenue fund or for the purpose of providing funding for an emergency, as defined by general law.

(5) If the principal balance of the budget stabilization fund exceeds an amount equal to 15% of revenue collections, the legislature may withdraw funds for the purpose of funding on a nonrecurring basis a critical state need. Such withdrawal must be approved by a two-thirds vote of the membership of each house of the legislature in a separate bill for that purpose only. The withdrawal must not cause the principal balance of the budget stabilization fund to equal an amount that is less than 10% of revenue collections.

(6) General law shall provide for the restoration of this fund. The budget stabilization fund shall be comprised of funds not otherwise obligated or committed for any purpose.

(h) LONG-RANGE STATE PLANNING DOCUMENT AND DEPARTMENT AND AGENCY PLANNING DOCUMENT PROCESSES. General law shall provide for a long-range state planning document. The governor shall recommend to the legislature biennially any revisions to the long-range state planning document, as defined by law. General law shall require a biennial review and revision of the long range state planning document and shall require all departments and agencies of state government to develop planning documents that identify statewide strategic goals and objectives, consistent with the long-range state planning document. The long-range state planning document and department and agency planning documents shall remain subject to review and revision by the legislature. The long-range state planning document must include projections of future needs and resources of the state which are consistent with the long-range financial outlook. The department and agency planning documents shall include a prioritized listing of planned expenditures for review and possible reduction in the event of revenue shortfalls, as defined by general law.

(i) GOVERNMENT EFFICIENCY TASK FORCE. No later than January of 2007, and each fourth year thereafter, the president of the senate, the speaker of the house of representatives, and the governor shall appoint a government efficiency task force, the membership of which shall be established by general law. The task force shall be composed of members of the legislature and representatives from the private and public sectors who shall develop recommendations for improving governmental operations and reducing costs. Staff to assist the task force in performing its duties shall be assigned by general law, and the task force may obtain assistance from the private sector. The task force shall complete its work within one year and shall submit its recommendations to the joint legislative budget commission, the governor, and the chief justice of the supreme court.

(j) JOINT LEGISLATIVE BUDGET COMMISSION. There is created within the legislature the joint legislative budget commission composed of equal numbers of senate members appointed by the president of the senate and house members appointed by the speaker of the house of representatives. Each member shall serve at the pleasure of the officer who appointed the member. A vacancy on the commission shall be filled in the same manner as the original appointment. From November of each odd-numbered year through October of each even-numbered year, the chairperson of the joint legislative budget commission shall be appointed by the president of the senate and the vice chairperson of the commission shall be appointed by the speaker of the house of representatives. From November of each even-numbered year through October of each odd-numbered year, the chairperson of the joint legislative budget commission shall be appointed by the speaker of the house of representatives and the vice chairperson of the commission shall be appointed by the president of the senate. The joint legislative budget commission shall be governed by the joint rules of the senate and the house of representatives, which shall remain in effect until repealed or amended by concurrent resolution. The commission shall convene at least quarterly and shall convene at the call of the president of the senate and the speaker of the house of representatives. A majority of the commission members of each house plus one additional member from either house constitutes a quorum. Action by the commission requires a majority vote of the commission members present of each house. The commission may conduct its meetings through teleconferences or similar means. In addition to the powers and duties specified in this subsection, the joint legislative budget commission shall exercise all other powers and perform any other duties not in conflict with paragraph (c)(3) and as prescribed by general law or joint rule.

Support

Ballotpedia has not located a campaign in support of the ballot measure. You can share campaign information or arguments, along with source links for this information, with us at editor@ballotpedia.org.

Supporters

Officials

• Florida Senate President Ben Albritton (R)
• State Rep. Lawrence McClure (R)
• Florida Speaker of the House Daniel Anthony Perez (R)

Arguments

• Florida Senate President Ben Albritton (R-27): "[The amendment] makes Florida’s balance sheet more durable in difficult times, and we’re setting more money aside to have its rainy-day reserves if things get difficult."
• Florida Speaker of the House Daniel Perez (R-116): "I think this is just a preparation of being prepared for the unexpected, and none of us know what the unexpected is, but we have a sample to look at in the 2000s when we had a recession. The state of Florida was not prepared for that recession."

Opposition

Opponents

Ballotpedia has not located a campaign in opposition to the ballot measure. You can share campaign information or arguments, along with source links for this information, with us at editor@ballotpedia.org.

Arguments

• Rich Templin of Florida AFL-CIO: "We have so many needs and obligations that are still unmet. Why would we take money and put it in our retirement account?"

Campaign finance

See also: Ballot measure campaign finance, 2026

The campaign finance information on this page reflects the most recent scheduled reports that Ballotpedia has processed, which covered through July 14, 2025. The deadline for the next scheduled reports is October 10, 2025.

Ballotpedia has not located a campaign in support of or opposition to the ballot measure. You can share campaign information or arguments, along with source links for this information, with us at editor@ballotpedia.org.

	Cash Contributions	In-Kind Contributions	Total Contributions	Cash Expenditures	Total Expenditures
Support	$0.00	$0.00	$0.00	$0.00	$0.00
Oppose	$0.00	$0.00	$0.00	$0.00	$0.00
Total	$0.00	$0.00	$0.00	$0.00	$0.00

Background

Florida Budget Stabilization Fund

The BSF was created with the passage of Amendment 4 in 1992. Voters approved the amendment in a vote of 83% to 17%. The amendment was proposed by the Florida Taxation and Budget Reform Commission, a constitutionally mandated commission that convenes every 20 years. The amendment created Article III, Section 19 of the Florida Constitution.

Voters last amended the wording in the constitution that governed the fund in 2006. Amendment 1 removed the original language adopted in 1992 that authorized the gradual increase in the amount of revenue the fund retained from 1% to 5% over five fiscal years beginning in 1994.

The last time that Florida withdrew more money than it deposited from the BSF was in 2008 during the Great Recession. Since the 1994-1995 fiscal year, the first fiscal year in which the BSF was utilized, the average balance of the BSF, calculated as a percentage of the state's net general revenue, was 4.63%.

Budget Stabilization Funds in other states

See also: Budget stabilization funds ballot measures

As of 2025, all fifty states had some form of a budget stabilization fund in place; Montana was the last to create such a fund when they created their BSF in 2017.

The National Association of State Budget Officers reported that the balance in state budget stabilization funds increased since the Great Recession in 2008. Despite projected declines in revenue and balances due to the COVID-19 pandemic, after a "slight dip in fiscal [year] 2020, state rainy day funds grew substantially in fiscal 2021 and fiscal 2022." The dollar amount in state funds doubled from 2020 to 2025, and for fiscal year 2025, 31 states announced a projected increase in their budget stabilization funds.

Path to the ballot

Amending the Florida Constitution

See also: Amending the Florida Constitution

A 60% vote is required during one legislative session for the Florida State Legislature to place a constitutional amendment on the ballot. That amounts to a minimum of 72 votes in the Florida House of Representatives and 24 votes in the Florida State Senate, assuming no vacancies. Amendments do not require the governor's signature to be referred to the ballot. Amendments on the ballot must be approved by 60% of voters to pass.

House Joint Resolution 5019 (2025)

The following is the timeline of the constitutional amendment in the state legislature:

• June 4, 2025: The amendment was filed.
• June 16, 2025: The state House passed HJR 5019 by a vote of 100-1. The state Senate passed the amendment on the same day by a vote of 29-4.

Partisan Direction Index = +11.9% (Bipartisan)

Democratic Support

87.1%

Republican Support

99.0%

Florida House of Representatives

Voted on June 16, 2025

Votes Required to Pass: 72
	Yes	No	NV
Total	100	1	19
Total %	83.3%	0.8%	15.9%
Democratic (D)	23	0	10
Republican (R)	77	1	9

Florida State Senate

Voted on June 16, 2025

Votes Required to Pass: 23
	Yes	No	NV
Total	29	4	6
Total %	74.4%	10.3%	15.3%
Democratic (D)	4	4	2
Republican (R)	24	0	4
Independent (I)	1	0	0

How to cast a vote

See also: Voting in Florida

See below to learn more about current voter registration rules, identification requirements, and poll times in Florida.

How to vote in Florida

Poll times

In Florida, all polls are open from 7:00 a.m. to 7:00 p.m. local time. Florida is divided between the Eastern and Central time zones. An individual who is in line at the time polls close must be allowed to vote.

Registration

Check your voter registration status here.

To vote in Florida, one must be at least 18 years of age, a citizen of the United States, and a legal resident of Florida and the county in which he or she intends to vote. Pre-registration is available beginning at 16 years of age.

Voters may retrieve registration applications at the following locations:

• Local elections offices
• Public assistance agencies
• Disability services agencies
• Independent living centers
• Military recruitment offices
• Public libraries
• Drivers license office
• Tax collector's office
• The office of any entity authorized by the Florida Fish and Wildlife Conservation Commission to issue fishing, hunting, or trapping permits

A registration form is also available online. The form can be printed and submitted via mail.

Click here to find your county Supervisor of Elections.

Automatic registration

Florida does not practice automatic voter registration.

Online registration

See also: Online voter registration

Florida has implemented an online voter registration system. Residents can register to vote by visiting this website.

Voters may also apply for or modify their voter registration status while renewing their driver's license through the Florida Department of Highway Safety and Motor Vehicles’ online renewal system here.

Same-day registration

Florida does not allow same-day voter registration.

Residency requirements

To register to vote in Florida, you must be a resident of the state. State law does not specify a length of time for which you must have been a resident to be eligible.

Verification of citizenship

See also: Laws permitting noncitizens to vote in the United States

Florida does not require proof of citizenship for voter registration. An individual must attest that they are a U.S. citizen when registering to vote. According to the state's voter registration application, "it is a 3rd degree felony to submit false information."

All 49 states with voter registration systems require applicants to declare that they are U.S. citizens in order to register to vote in state and federal elections, under penalty of perjury or other punishment. Seven states — Alabama, Arizona, Georgia, Kansas, Louisiana, New Hampshire, and Wyoming — have laws requiring verification of citizenship at the time of voter registration, whether in effect or not. In three states — California, Maryland, and Vermont — at least one local jurisdiction allows noncitizens to vote in some local elections. Noncitizens registering to vote in those elections must complete a voter registration application provided by the local jurisdiction and are not eligible to register as state or federal voters.

Verifying your registration

The page Voter Information Lookup, run by the Florida Department of State, allows residents to check their voter registration status online.

Voter ID requirements

Florida requires voters to present photo identification with a signature while voting.

The following list of accepted ID was current as of July 2024. Click here for the Florida Secretary of State's page on accepted ID to ensure you have the most current information.

• Florida driver’s license
• Florida identification card issued by the Department of Highway Safety and Motor Vehicles
• United States passport
• Debit or credit card
• Military identification
• Student identification
• Retirement center identification
• Neighborhood association identification
• Public assistance identification
• Veteran health identification card issued by the United States Department of Veterans Affairs
• License to carry a concealed weapon or firearm issued pursuant to s. 790.06
• Employee identification card issued by any branch, department, agency, or entity of the federal government, the state, a county, or a municipality

A voter who presents an ID without a signature must show a second form of identification that includes the voter’s signature.

See also

2026 measures

• 2026 ballot measures
• Budget stabilization funds on the ballot

Florida

• Florida ballot measures
• Florida ballot measure laws

News and analysis

• Ballot measure lawsuits
• Ballot measure readability
• Ballot measure polls

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