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 previous fiscal year's general revenue collections. Additionally, it mandates an annual transfer to the fund of either $750 million or the amount necessary to reach the 25% threshold, provided there is no revenue shortfall. The resolution also allows the legislature to withdraw funds from the stabilization fund for critical state needs, subject to specific conditions and legislative approval.

Furthermore, the amendment outlines the processes for state budgeting, planning, and appropriations, including requirements for detailed budget requests from state departments and agencies, a long-range financial outlook, and a public review period for appropriation bills. It establishes criteria for withdrawing funds from the budget stabilization fund, emphasizing that such withdrawals can only occur under certain circumstances and must be approved by a two-thirds vote of the legislature. The resolution will be submitted to voters for approval or rejection in the next general election or a special election authorized by law.