The bill establishes a new section, 944.751, in the Florida Statutes, focusing on the capital improvement needs of correctional facilities. It expresses legislative intent to allocate funding through cash payments or bond proceeds to address these needs, with a recurring appropriation of $50 million from the General Revenue Fund each fiscal year from 2026-2027 to 2066-2067. The Department of Corrections is required to prioritize the use of these funds for debt service and critical facility needs, including the construction of a new 600-bed correctional hospital unit that incorporates mental health services. Additionally, the bill mandates that for projects exceeding $5 million, the department must contract with a construction management entity to oversee the design and construction phases.

To ensure efficient use of funds, the bill creates a financing oversight committee comprising representatives from various governmental bodies, tasked with recommending effective financing methods for new capital facility construction. Furthermore, it authorizes the Division of Bond Finance to issue bonds for constructing new correctional facilities, with specific provisions regarding the approval and appropriation of debt service. The Chief Financial Officer is also directed to transfer $150 million annually from the General Revenue Fund to the State Board of Administration for the Debt Reduction Program, with any unspent funds reverting to the General Revenue Fund at the end of each fiscal year. The act is set to take effect on July 1, 2026.