The joint resolution proposes an amendment to Section 19 of Article III of the Florida State Constitution, aimed at enhancing the budget stabilization fund. The amendment seeks to increase the maximum amount that can be retained in this fund from 10% to 25% of the general revenue collections. Additionally, it mandates an annual transfer to the fund, requiring the legislature to transfer either $750 million or the amount necessary to reach the 25% threshold, unless specific conditions are met that would allow for a suspension of this transfer. These conditions include instances where funds are withdrawn for critical state needs or if the legislature determines a critical state need that exceeds the required transfer amount.

Furthermore, the resolution allows the legislature to withdraw funds from the budget stabilization fund for critical state needs, provided that the fund's principal balance exceeds 15% of revenue collections. Such withdrawals must be approved by a two-thirds vote of both houses of the legislature and cannot reduce the fund below 10% of revenue collections. The amendment aims to ensure that the state has a robust financial safety net while also providing flexibility for addressing urgent state needs. The proposed changes will be submitted to voters for approval or rejection in the next general election or a specially authorized election.