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 of 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 These conditions include instances where funds are withdrawn for critical state needs or if the legislature determines that there is a pressing need for general revenue funds that exceeds the required transfer amount.

Furthermore, the amendment 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 resolution emphasizes the importance of maintaining a robust budget stabilization fund to address revenue shortfalls and emergencies, while also ensuring that the legislature has the flexibility to respond to critical state needs as they arise. The proposed amendment will be submitted to voters for approval or rejection in the next general election.