F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
ENROLLED
HB 5011, Engrossed 1 2022 Legislature
1
2 An act relating to the Inflation Fund; creating s.
3 216.1813, F.S.; creating the Inflation Fund within the
4 Executive Office of the Governor; providing the
5 purpose of the fund; providing for the deposit and use
6 of funds; providing for future review and termination
7 of the fund; providing an effective date.
8
9 Be It Enacted by the Legislature of the State of Florida:
10
11 Section 1. Section 216.1813, Florida Statutes, is created
12 to read:
13 216.1813 Inflation Fund.—
14 (1) The Inflation Fund is created within the Executive
15 Office of the Governor.
16 (2) The Legislature recognizes that federal economic
17 policies have resulted in an unprecedented increase in
18 inflation. Unwieldy federal spending during the COVID-19
19 pandemic has contributed to consumer prices soaring at a pace
20 faster than that seen in over 30 years. As such, Florida must
21 take action to ensure the existence of a sufficient source of
22 funds, as appropriated in the General Appropriations Act, is
23 available to provide spending flexibility if budget amendments
24 are necessary to offset inflation spikes. The Inflation Fund is
25 established as the primary funding source to offset budget
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
ENROLLED
HB 5011, Engrossed 1 2022 Legislature
26 amendments by an agency or the judicial branch which are
27 necessary to counter increased inflation that exceeds funds
28 appropriated in the General Appropriations Act.
29 (3) In accordance with s. 19(f)(2), Art. III of the State
30 Constitution, the Inflation Fund within the Executive Office of
31 the Governor shall, unless terminated sooner, be terminated on
32 July 1, 2026. Before its scheduled termination, the trust fund
33 shall be reviewed as provided in s. 215.3206(1) and (2).
34 Section 2. This act shall take effect July 1, 2022.
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