What to know about Amendments 1 and 2

You’ve probably heard about No. 3. Also on the ballot are two other state-initiated constitutional amendments.

By Ed James III

Original Air Date: October 27, 2026

Host: Three state constitutional amendments are on this year’s ballot. We have extensively reported on Amendment 3, the proposal to substantially cut property taxes. But what about Amendments 1 and 2? These state-initiated proposals touch on state financial reserves and cutting taxes for farmers. Ed James III brings us the details.

Ed James III: Amendment 1 proposes raising the cap on Florida’s Budget Stabilization Fund—the state’s primary rainy-day reserve—from 10% to 25% of general revenue collections and making it mandatory to reach the 25%. Proponents, including legislative leaders such as Senate President Ben Albritton and House sponsors, argue that expanding the reserve capacity is essential for Florida’s long-term financial health. Supporters contend that a higher ceiling—potentially reaching over $12 billion—gives the state a vital buffer to absorb major economic recessions and devastating hurricane recovery costs without resorting to emergency tax hikes or drastic service cuts during a crisis.

Meanwhile, Amendment 2 focuses on property tax relief for the agricultural sector by exempting tangible personal property—like machinery and equipment used in farming and agritourism—from ad valorem taxation. Supporters, such as the Florida Farm Bureau, argue this measure protects family farms against rising equipment costs and secures local food production at a time when farming is facing challenges on many fronts.

However, local civic and civil rights leaders offer a contrasting view on how these macro-level savings policies filter down to daily life. I spoke with Trevor Harvey, President of the Sarasota Branch of the NAACP. He argues that these proposed changes could negatively impact working-class communities like Newtown.

Trevor Harvey

Trevor Harvey: It pulls away needed funding from communities like the Newtown community. Whether it’s service-related, response time—if we have a disaster, we’re limiting those resources that we would normally be able to tap into for a community like ours to recover.

EJ: The Sarasota NAACP has formally taken a stance opposing the measures. The lawmakers that sponsor the measures emphasize fiscal prudence and tax relief for agriculture. But the NAACP argues that cutting taxes for one industry puts the burden on others, and mandating state transfers diverts potential revenue away from local priorities—such as municipal infrastructure, affordable housing and local emergency services.

The debate underscores two distinct economic philosophies: state-level savings and industry tax relief versus direct local community investment.

Harvey pointed to inflation and the growing financial pressure on working class households.

TH: To me, I think it goes down to funding because every last one of them is tied to some type of monetary—whether we’re looking at Amendment 1, which is the public stabilization fund—they’re looking to raise that fund from 10% to 25%, and the state operations are already at a point of being depleted, why would we drastically take that fund from 10% to 25%? I look at it from a dollar standpoint because our municipalities, whether it’s on the city side or the county side, are stacked with millions and millions of dollars, and every last one of these various constitutional amendments—all it is doing is shifting money into an already overwhelming pot of resources that they have. They don’t need to continue to take away from the working class—the everyday person that is out there struggling. They don’t need to take resources that are going to help those communities to continue to survive.

EJ: For more information on Amendments 1 and 2, look for the Florida League of Women Voters.

Reporting for WSLR 96.5 FM News, I’m Ed James III.

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