JACKSONVILLE, Fla. — Florida voters will decide on three proposed constitutional amendments when they head to the polls in this year’s midterm election.
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.
But voters will also see two other proposed amendments on the ballot.
Amendment 1 deals with Florida’s emergency savings fund. Right now, the state’s emergency fund is capped at 10% of Florida’s general revenue collections. Amendment 1 would more than double that cap to 25%.
The proposal would also generally require lawmakers to add $750 million to the fund each year until it reaches the new cap.
Aubrey Jewett, a political science professor at the University of Central Florida, said the state’s reserve currently sits at about $6 billion. He said the last time Florida pulled from that fund was in 2008.
For people who support Amendment 1, the argument is that Florida should have more money set aside for emergencies.
Opponents argue the state already has plenty in reserves and that the money could be used elsewhere.
Amendment 2 would eliminate property taxes on certain equipment used for farming and agritourism.
The measure could save farmers money, but state estimates show local governments would lose about $31 million a year in tax revenue.
Jewett said supporters believe the tax break could trigger a ripple effect and may lower the price of produce.
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.
All three amendments would need at least 60% support from voters to become part of Florida’s Constitution.
Early voting starts Tuesday in Duval County.
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