[{"_1":2,"_98":-5,"_99":-5},"loaderData",{"_3":4,"_25":26},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","routes/v2/article/layout",{"_27":28,"_29":30},"notFound",true,"relatedArticles",[31,75,87],{"_32":33,"_34":35,"_36":37,"_38":39,"_40":41,"_42":43,"_44":45,"_46":47,"_48":49,"_50":51,"_52":53,"_54":55,"_56":57,"_58":59,"_60":61,"_62":63,"_64":65,"_66":67,"_68":69,"_70":71,"_72":73,"_74":73},"mediaId",6190440,"mediaKeyId","5049099-e0267ada252143fbb9ffe03454492b90","parentId",5049099,"title","Committee backs constitutional amendment to raise Florida’s budget-stabilization cap to 25% with $750 million annual deposits","audioSeconds",2166,"startMs",622000,"endMs",2788000,"viewUrl","/Search/View?dp=1&key=5049099-e0267ada252143fbb9ffe03454492b90&start=622&end=2788","thumbnailUrl","https://assets.pipeline.soar.com/5049099-e0267ada252143fbb9ffe03454492b90/thumbnail_622000.jpg","articleUrl","/articles/6190440/Florida/Committee-backs-constitutional-amendment-to-raise-Floridas-budget-stabilization-cap-to-25-with-750-million-annual-deposits","mediaUrl","https://secure.pipeline.soar.com/6190440-1d4e2972b3d7b07d72e445deec37d7a1/orig.mp4?Expires=1769739210&Signature=oKFNaUJHh7chWxRGqMdlhPFMmjAbvsZJIYIKYJRXSlFh5C~7lD9-01V1XXsTyUc1gryefiTd38kIevy8iyZNUbv6w00J6rMRkl9g0wf7p8h2WKR89mteKBH3RAIJf-bEWNRsrGTG0FCo1I~N9t2hJpiIuRGsBhvgMB0-gLCWj0Fja~x3-UaSdPpFq5rqLbPTTo86BhPNXL2MWNvAIImCFMfYPlzA9FRp63sGJVYbBYuMNqPvXs0nNHoxUo5F~lPe~sZ-Bih6JxrqCWa4AP~5DI11O3CfZpanIkPQAr6T7HJlFvXMWGsOlPhe52kJlrNGsRIOlSedBM2sxw3~eyPKOg__&Key-Pair-Id=KUT5TJCACFTXG","author","Florida Legislature","date","2025-06-05T00:00:00Z","article","The Senate Committee on Appropriations reported favorably on SJR 1908, a joint resolution that would place a constitutional amendment before voters to raise Florida’s budget-stabilization fund cap from 10% of general revenue collections to a maximum of 25% and to require annual transfers of $750,000,000 until the cap is reached.

Senator Hooper, explaining the resolution, told the committee the change would raise the cap “from the current 10% of general revenue collections to a maximum of 25% of collections. Based on current numbers, that would be about $12,200,000,000.” He said that, if approved by voters in 2026, the constitutional provision would take effect on Jan. 5, 2027, and that the proposed language would supply a withdrawal mechanism to provide nonrecurring funding for a “critical state need” when a separate two‑thirds vote of the Legislature authorized the transfer.

Members pressed the sponsor on access and definitions. Senator Guillermo Smith and Senator Polsky asked how the fund could be used to respond to federal cuts or heightened needs such as Medicaid shortfalls, school funding, or disaster recovery. Hooper said two paths exist to access the funds: suspending the annual $750,000,000 allocation during a revenue shortfall, or authorizing a withdrawal for a legislatively defined “critical state need.” He also told senators the Legislature would have to repay any withdrawal under the present repayment rules and that the language under discussion would allow up to five years for repayment when a withdrawal occurs.

Opponents during public comment urged rejection. Karen Woodall of the Florida Center for Fiscal and Economic Policy warned the committee that the state already had roughly $4.4 billion in the stabilization fund and other large trust funds and argued the proposal would remove recurring revenue from near-term use. Woodall said access would be difficult under the bill’s mechanisms and urged senators to vote no. Dr. Rich Templin, representing the Florida AFL-CIO, told the committee “budgets are a statement of our values,” and said taking $750,000,000 off the table annually could prevent funding for teacher pay, health-care access and other needs.

Committee members voiced differing views. Senator Polsky and Senator Guillermo Smith both questioned whether the state needs a larger locked fund while unmet needs remain. Leader Berman asked whether a definition of “critical state need” would be included; Senator Hooper and committee staff said the definition would be resolved in final language and that the governor and Legislature each have roles in declaring or authorizing emergency withdrawals. The sponsor also acknowledged negotiations with the House remained ongoing and that the version considered in committee was not final.

Committee members raised timing questions: Senator Guillermo Smith noted the first two $750,000,000 deposits could be set aside before voters decide the amendment, and Senator Hooper responded that in that case the money would be held in reserve until voter approval and that, if voters later rejected the amendment, the reserve could be applied to other needs.

After debate, the committee reported SJR 1908 favorably. The roll call recorded several recorded no votes in the transcript (including Senators Pizzo, Polsky and Smith). If approved by voters in 2026, the amendment would take effect Jan. 5, 2027.","mediaType","Video","parentTitle","Committee on Appropriations 6/5/2025","oneSentenceSummary","The Senate Committee on Appropriations on Oct. 11 reported favorably on SJR 1908, a proposed constitutional amendment to raise the state budget-stabilization cap from 10% to 25% and require annual deposits of $750,000,000 until the cap is reached.","taxTitle","Appropriations, Standing Committees, Senate, Legislative, Florida","taxId",26936,"location","Florida","headline","","shortSummary",{"_32":76,"_34":35,"_36":37,"_38":77,"_40":78,"_42":79,"_44":80,"_46":81,"_48":82,"_50":83,"_52":84,"_54":55,"_56":57,"_58":85,"_60":61,"_62":63,"_64":86,"_66":67,"_68":69,"_70":71,"_72":73,"_74":73},6190445,"Senate committee advances bill to transfer $250 million a year to retire state bonds",54,71000,125000,"/Search/View?dp=1&key=5049099-e0267ada252143fbb9ffe03454492b90&start=71&end=125","https://assets.pipeline.soar.com/5049099-e0267ada252143fbb9ffe03454492b90/thumbnail_71000.jpg","/articles/6190445/Florida/Senate-committee-advances-bill-to-transfer-250-million-a-year-to-retire-state-bonds","https://secure.pipeline.soar.com/6190445-fc8b53037a8caaae4c4c175684f9bd27/orig.mp4?Expires=1769739210&Signature=G-8loIh3XwYJVhPdqKL~v0pF8C2GoEAsbslCLd4wJZpJKy0kgB~l8Zb53Wj04-eNDb-idlVhlJ~xlILcY2gcxF9p~ps3xAyxVfH0M~jcZrlFxDQEL45M191qtvTF2~ijG8otCEtAlqksEljofNvuAus2VB7iILZx-1efGd948m8HHBRo8VP-ZjtyNJaIwGtSXpulbQtowOxH2oamEXlpDRtVqRZgdx1kjJUC6XJkxmJVEWrIUDPmWCwWf9nE9VjZy-S3RdC1g1L1UC5zLHY~GzkRkv2tGOhdT8Q31hjYn2iM2UxbTdUQlTg3rJWAjKuaFN8QF1aI2DqEjLNZP47hjw__&Key-Pair-Id=KUT5TJCACFTXG","The Senate Committee on Appropriations on Oct. 11 advanced SB 1906, a bill that would create a debt-reduction program requiring an automatic annual transfer of $250,000,000 from the General Revenue Fund to retire outstanding state bond issues before maturity.

Senator Broder, sponsor of SB 1906, told the committee the bill “adds a ninth element” to the Division of Bond Finance’s required annual debt report and that the program would work “by transferring $250,000,000 a year from the General Revenue Fund each fiscal year to accelerate the retirement of our bonds prior to maturity.”

The bill’s sponsor and other supporters argued the automatic transfer would accelerate debt retirement without the committee-by-committee budgeting that currently occurs in the General Appropriations Act. Senator Bridal said the state’s debt ratio has fallen in recent years and that the change would make early retirement of bonds automatic: “We have a limit of 7%, but we’ve been paying it down so well ... we are down to 2.62%,” Bridal said, citing the debt-ratio calculation used by bond managers.

Committee members asked how the mandated transfers would compare with other uses of one-time or recurring revenue. Senator Polsky asked whether funds earmarked to retire debt might instead earn a higher return if invested elsewhere; Broder and Bridal pointed committee members to the State Board of Administration (SBA) and the Division of Bond Finance for broader investment and financing strategy questions. The bill text exempts the Department of Transportation and the Florida Turnpike Enterprise from the program, a point Bridal said was intentional because those entities have self-supporting, toll-based revenue structures and some public–private partnership deals that could lose money if retired early.

Committee debate included support from Senator Boyd, who called the measure “another step to showing we’re careful stewards of taxpayers’ money.” After debate and closing remarks, the committee reported SB 1906 favorably by roll call.

The bill does not change existing authority for how the SBA or the Division of Bond Finance manages investments or how the Legislature includes debt payments in the General Appropriations Act; rather, it directs an annual transfer into a new statutory debt-reduction program and specifies exemptions for certain self-supporting debt and transportation obligations. The committee record and sponsors directed members to the Division of Bond Finance’s state debt report for the underlying financing details referenced during the hearing.

SB 1906 now moves from committee for further action according to the Senate’s scheduling rules.","The Senate Appropriations Committee reported SB 1906 favorably, a bill that would create a statutory debt-reduction program directing $250 million annually from the General Revenue Fund to retire outstanding state bonds, with certain transportation and self-supporting debts exempted.",{"_32":88,"_34":35,"_36":37,"_38":89,"_40":90,"_42":91,"_44":91,"_46":92,"_48":93,"_50":94,"_52":95,"_54":55,"_56":57,"_58":96,"_60":61,"_62":63,"_64":97,"_66":67,"_68":69,"_70":71,"_72":73,"_74":73},6190435,"Appropriations committee adopts delete‑all amendment and reports House sales‑tax bill as vehicle for tax package",0,2995000,"/Search/View?dp=1&key=5049099-e0267ada252143fbb9ffe03454492b90&start=2995&end=2995","https://assets.pipeline.soar.com/5049099-e0267ada252143fbb9ffe03454492b90/thumbnail_2995000.jpg","/articles/6190435/Florida/Appropriations-committee-adopts-deleteall-amendment-and-reports-House-salestax-bill-as-vehicle-for-tax-package","https://secure.pipeline.soar.com/6190435-756fdd242e3440a920b4c635b596c027/orig.mp4?Expires=1769739210&Signature=CmYhNeTKkzDQDcRuGAENT-zA5HsQTAbS5CbZ5KhcsV9Np4FQ-nl3V4ww7GDBDZqv65Q821tTRYdfZauBTMc3iyfYJzxELCxL5JBUdpwOok1xw1HdOvIcu0RTeoKDZZ2eWgvuuOKSPD9c8bASf4wXEnkp5uFnZxSjxmDTI9qh~qe8j-xozE1NrWOl45EJWh0Z22zK6RwuO0hl9UUW8htCotzV8yhRtjr85prGPBrGnqq0t57U5g7NRdQm2UC-DE8fxsu1b6~raNTAEDT1teEjn9osFIBcKOzt~C6Qjurcg9G~TQz-Owk2K~BipGKBYvvBYEM7THSX~G4SUEnWswMrwQ__&Key-Pair-Id=KUT5TJCACFTXG","The Senate Committee on Appropriations on Oct. 11 adopted a delete‑all amendment to House Bill 7031 and reported the bill favorably as amended, making it the legislative vehicle for a multicomponent tax package.

Senator Hooper explained the amendment (barcode 535388) and said the amendment replaces the bill’s text to prepare the measure for conference with the House. In closing, Hooper summarized the tax package details under negotiation: a 0.75 percentage‑point reduction in the state sales tax rate, a reduction of the commercial rent rate from 2% to 1.25%, elimination of the business rent tax, creation of permanent sales tax exemptions, and continuation of sales tax holidays — with additional details to be negotiated before sine die.

There were no public appearance forms or extended debate recorded on the amendment. The committee adopted the delete‑all amendment and reported House Bill 7031 favorably as amended by roll call.

The measure will proceed as the agreed vehicle for the tax package and is subject to further negotiations and final language changes in conference between the chambers.","The Senate Appropriations Committee adopted a delete‑all amendment to House Bill 7031 and reported the bill favorably as the vehicle for a broader tax package that includes a 0.75 percentage‑point sales tax reduction, changes to the business rent tax and other tax items, with final details to be negotiated before sine die.","actionData","errors"]

Article not found

Committee backs constitutional amendment to raise Florida’s budget-stabilization cap to 25% with $750 million annual deposits

Senate committee advances bill to transfer $250 million a year to retire state bonds

Appropriations committee adopts delete‑all amendment and reports House sales‑tax bill as vehicle for tax package