The proposed constitutional amendment seeks to repeal the Revenue Stabilization Trust Fund and redirect certain state revenues into the Budget Stabilization Fund. Key changes include increasing the cap on deposits into the Budget Stabilization Fund from four percent to seven and one-half percent of total state revenue receipts from the previous fiscal year. The amendment also aims to repeal provisions related to the dedication of mineral revenues and make technical adjustments to align with the new framework. For the remainder of Fiscal Year 2026-2027, any mineral revenues exceeding nine hundred fifty million dollars will be directed to the Budget Stabilization Fund, while still adhering to existing constitutional requirements.

Additionally, the bill proposes amendments to the state constitution that will be submitted to voters in a statewide election on November 3, 2026. These amendments include the repeal of existing language that exempts certain funds from being calculated for the Budget Stabilization Fund and the dedication of mineral revenues to the Revenue Stabilization Trust Fund and the IUAL of LASERS and TRSL. The House Committees on Appropriations and Civil Law and Procedure have further refined the bill by repealing specific provisions related to mineral revenue and budget stabilization, ensuring a streamlined approach to fund management and enhancing the clarity and effectiveness of the proposed changes.