The Senate had initially proposed $92.83 billion while the House had a $91.37 billion spending plan. The current year’s budget is approximately $91 billion.
The State currently collects $30.4 billion in total revenues. However, $7 billion of that total is paid by tourists visiting our state. State economists have expressed concern that this number could drop substantially should the COVID-19 crisis continue for several months.
The Fiscal Year 2020-2021 budget is highlighted by one of Governor Ron DeSantis’ top priorities, a $500 million appropriation to increase teacher pay. $400 million is set aside to provide for a minimum salary of $47,500, while the remaining $100 million is to increase veteran teacher pay. Other items of interest include $100 million for the Florida Forever land acquisition program; $690 million for Everglades restoration and water quality projects; $10 million for the Job Growth Grant Fund (down from $40 million this year); $370 million for affordable housing; and $400 million for 750 local projects sponsored by individual members.
Total state reserves are now $3.8 billion. $300 million was redirected into reserves in anticipation of the economic impact of the coronavirus. The Legislature reduced the tax package to $47.4 million by diverting money from the Land Acquisition Trust Fund, and spending less on some enhanced Medicaid payments. The reduced tax package is now $47.4 million. A total of $25 million has been set aside for COVID-19 spending, which is in addition to the $27 million the federal government has contributed to date.
Outlined below are the funding levels for the various areas of the FY 2020-2021 budget.
|Criminal Justice/ Corrections||4,961,841,187|
|Natural Resources/ Growth Management/ Environment/ Transportation||14,675,996,224|