Amendment 1
Changes to the Budget Stabilization Fund Amendment
On the ballot
Florida · November 2026 general election · Legislative referral · Election day November 3, 2026
Topics: Government structure, Taxes and revenue
In plain language
Amendment 1 would change the constitutional rules for Florida's budget stabilization fund, the reserve the state draws on for emergencies and revenue shortfalls. It would raise the fund's maximum balance from 10 percent to 25 percent of the prior year's net general revenue collections, and would require the Legislature to move the lesser of $750 million or the amount needed to reach that cap into the fund each year. The Legislature could suspend that transfer, or withdraw money from the fund, only under conditions the amendment sets out, several of which require a two-thirds vote. Florida constitutional amendments take 60 percent voter approval to pass.
Fiscal impact
The Florida House of Representatives' final bill analysis of HJR 5019 states that the fiscal impact on the state is indeterminate but likely insignificant. Florida's Financial Impact Estimating Conference prepares statements for citizen initiatives; because this measure is a legislative referral, no such statement was issued.
Summarized from the official fiscal analysis listed in the sources below. Figures are the state's, not this site's.
What supporters and opponents say
These are summaries of arguments made by the named organizations, drawn from the sources listed below. They are their claims, not this site's, and this site takes no position on the measure.
What supporters say
- Ballotpedia reports that it has not located a campaign registered in support of the amendment. The Legislature referred it to voters on June 16, 2025, when the House passed HJR 5019 by 100-1 and the Senate passed it by 29-4.
What opponents say
- Ballotpedia reports that it has not located a campaign registered in opposition to the amendment. Four state senators voted against referring it to the ballot.
Reproduced verbatim from the state's certified ballot text.
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.
Sources
Everything on this page traces to these sources. Follow them to read the original documents.
- Florida Division of Elections — Initiatives/Amendments/Revisions Database: Budget Stabilization Fund (Ballot Number 1, 2026)
- Florida Division of Elections — Constitutional Amendments/Initiatives
- Florida House of Representatives — Final Bill Analysis, CS/HJR 5019 (2025)
- Ballotpedia — Florida Changes to Budget Stabilization Fund Amendment (2026)
Last updated . How this page is sourced and corrected is described in the correction policy.