JACKSONVILLE, Fla. \u2014 Florida voters will decide on three proposed constitutional amendments when they head to the polls in this year\u2019s midterm election.<\/p>\n
Amendment 3, which would cut non-school property taxes by raising the homestead exemption to $250,000, has gotten much of the attention in recent months.<\/p>\n
But voters will also see two other proposed amendments on the ballot.<\/p>\n
Amendment 1 deals with Florida\u2019s emergency savings fund. Right now, the state\u2019s emergency fund is capped at 10% of Florida\u2019s general revenue collections. Amendment 1 would more than double that cap to 25%.<\/p>\n
The proposal would also generally require lawmakers to add $750 million to the fund each year until it reaches the new cap.<\/p>\n
Aubrey Jewett, a political science professor at the University of Central Florida, said the state\u2019s reserve currently sits at about $6 billion. He said the last time Florida pulled from that fund was in 2008.<\/p>\n
For people who support Amendment 1, the argument is that Florida should have more money set aside for emergencies.<\/p>\n
Opponents argue the state already has plenty in reserves and that the money could be used elsewhere.<\/p>\n
Amendment 2 would eliminate property taxes on certain equipment used for farming and agritourism.<\/p>\n
The measure could save farmers money, but state estimates show local governments would lose about $31 million a year in tax revenue.<\/p>\n
Jewett said supporters believe the tax break could trigger a ripple effect and may lower the price of produce.<\/p>\n
But some groups oppose the amendment because of concerns about the potential loss in tax revenue. Jewett said the Florida Education Association is among those against it.<\/p>\n
All three amendments would need at least 60% support from voters to become part of Florida\u2019s Constitution.<\/p>\n
Early voting starts Tuesday in Duval County.<\/p>\n
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