Florida State Budget Amendment on Stabilization Fund Fails to Pass

Amendment 1, which sought to increase the maximum amount of money that can be held in the state's Budget Stabilization Fund, failed to meet the 60% vote threshold needed to pass. The fund is currently capped at 10% of net general revenue, and approval would have raised that cap to 25%.

Supporters of the amendment argued that a larger state reserve would help the state better weather economic downturns or unexpected budget shortfalls. Opponents argued that keeping more money in reserve could limit funding available for current programs and services.