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. It mandates that the legislature must transfer either $750 million or the necessary amount to reach the 25% threshold each fiscal year, provided there is no revenue shortfall. Additionally, the amendment allows for periodic withdrawals from the fund for critical state needs, contingent upon a two-thirds legislative approval.

This resolution outlines a structured approach to state budgeting and financial planning, emphasizing the importance of maintaining a robust budget stabilization fund to address emergencies and fiscal challenges. It also establishes criteria for fund withdrawals and requires the legislature to develop a long-range financial outlook to guide budget decisions. The proposed amendment will be submitted to voters for approval or rejection in the next general election or a specially authorized election.