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Amendment 3 (State Government Revenue Limitation)

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Parents

> United States > Florida > Constitutional Amendments > 2012 Initiatives and Referenda > Amendment 3 (State Government Revenue Limitation)

Office

Constitutional Amendment

Honorific

Constitutional Amendment - Abbr:

Type

General Election

Filing Deadline

June 01, 2012 - 12:00pm Central

Polls Open

November 06, 2012 - 06:00am Central

Polls Close

November 06, 2012 - 08:00pm Central

Term Start

January 01, 2013 - 12:00pm

Term End

January 20, 2999 - 12:00pm

Turnout

63.27% Registered 40.16% Total Population

Contributor

AndyRomagnano

Last Modified

AndyRomagnano December 05, 2021 01:56pm

Data Sources

Description

The official ballot text read as follows:

CONSTITUTIONAL AMENDMENT

ARTICLE VII, SECTIONS 1 and 19
ARTICLE XII, SECTION 32

STATE GOVERNMENT REVENUE LIMITATION.—This proposed amendment to the State Constitution replaces the existing state revenue limitation based on Florida personal income growth with a new state revenue limitation based on inflation and population changes. Under the amendment, state revenues, as defined in the amendment, collected in excess of the revenue limitation must be deposited into the budget stabilization fund until the fund reaches its maximum balance, and thereafter shall be used for the support and maintenance of public schools by reducing the minimum financial effort required from school districts for participation in a state-funded education finance program, or, if the minimum financial effort is no longer required, returned to the taxpayers. The Legislature may increase the state revenue limitation through a bill approved by a super majority vote of each house of the Legislature. The Legislature may also submit a proposed increase in the state revenue limitation to the voters. The Legislature must implement this proposed amendment by general law. The amendment will take effect upon approval by the electors and will first apply to the 2014-2015 state fiscal year.

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