ORLANDO, Fla. —
Florida has amendments 1, 2, and 3 on the ballot for the Nov. 3 election.
>> Watch the WESH 2 amendment special above
ELECTION LINKS | AMENDMENT 1 | AMENDMENT 2 | AMENDMENT 3 | DEBATE SERIES | STATE ELECTIONS WEBSITE | VOTER GUIDE
Amendment 1
It aims to increase the state’s Budget Stabilization Fund, also known as a “rainy day” fund.
It ensures that in dire economic times, Florida has money set aside to cover natural disasters and revenue shortfalls. That fund now has $5 billion, but 80% of Republican and Democratic state lawmakers placed Amendment 1 on the ballot to grow that pot of money more.
A “yes” vote would increase the savings cap from 10% to 25% of the previous year’s general fund revenue. It would also authorize lawmakers to infuse up to $750 million into the fund annually until it is fully funded.
Full explainer:
Amendment 2
A “yes” vote would exempt tangible personal property on agricultural land, used in growing or for agritourism, and owned by the landowner or leaseholder from ad valorem taxation.
Essentially, it would eliminate the annual property tax for farmers on equipment they own.
Full explainer:
Amendment 3
Known as the homestead property tax exemption, it has been one of the most divisive amendments on the ballot this election.
A yes vote would increase the homestead property tax exemption for non-school taxes from what is now $50,000 to $150,000 next year.
Full explainer: