Florida Senate - 2022                        COMMITTEE AMENDMENT
       Bill No. HB 5011
       
       
       
       
       
       
                                Ì147946OÎ147946                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: FAV            .                                
                  03/01/2022           .                                
                                       .                                
                Floor: 1/R/2R          .                                
             03/14/2022 12:57 PM       .                                
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       The Committee on Appropriations (Hutson) recommended the
       following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Delete everything after the enacting clause
    4  and insert:
    5         Section 1. Section 216.1813, Florida Statutes, is created
    6  to read:
    7         216.1813 Inflation Fund.—
    8         (1) The Inflation Fund is created within the Executive
    9  Office of the Governor.
   10         (2) The Legislature recognizes that federal economic
   11  policies have resulted in an unprecedented increase in
   12  inflation. Unwieldy federal spending during the COVID-19
   13  pandemic has contributed to consumer prices soaring at a pace
   14  faster than that seen in over 30 years. As such, Florida must
   15  take action to ensure the existence of a sufficient source of
   16  funds, as appropriated in the General Appropriations Act, is
   17  available to provide spending flexibility if budget amendments
   18  are necessary to offset inflation spikes. The Inflation Fund is
   19  established as the primary funding source to offset budget
   20  amendments by an agency or the judicial branch which are
   21  necessary to counter increased inflation that exceeds funds
   22  appropriated in the General Appropriations Act.
   23         (3) In accordance with s. 19(f)(2), Art. III of the State
   24  Constitution, the Inflation Fund within the Executive Office of
   25  the Governor shall, unless terminated sooner, be terminated on
   26  July 1, 2026. Before its scheduled termination, the trust fund
   27  shall be reviewed as provided in s. 215.3206(1) and (2).
   28         Section 2. This act shall take effect July 1, 2022.
   29  
   30  ================= T I T L E  A M E N D M E N T ================
   31  And the title is amended as follows:
   32         Delete everything before the enacting clause
   33  and insert:
   34                        A bill to be entitled                      
   35         An act relating to the Inflation Fund; creating s.
   36         216.1813, F.S.; creating the Inflation Fund within the
   37         Executive Office of the Governor; providing the
   38         purpose of the fund; providing for the deposit and use
   39         of funds; providing for future review and termination
   40         of the fund; providing an effective date.