The Florida Senate on Friday filed its proposed $115 billion state budget for the 2026–27 fiscal year, setting the stage for negotiations with the House over a final spending plan before the start of the new fiscal year July 1.
The proposal, Senate Proposed Bill 2500, totals $115.0 billion, slightly below the current year’s $115.1 billion budget, according to the Senate Appropriations Committee summary. Of that amount, $52.3 billion comes from general revenue and $62.7 billion from trust funds.
Senate leaders said the plan maintains reserves and continues early repayment of state debt. The proposal transfers $118 million into the Budget Stabilization Fund to reach its 10% constitutional cap and includes $250 million for the state’s debt reduction program.
“The best thing we can do to keep Florida affordable is to keep taxes low, limiting the financial burden taxes and regulations place on Florida’s families and businesses. To keep taxes low, state government has to live within its means, pay down debt, and save for the future. These key principles reflect the sound financial stewardship Floridians expect and deserve,” said Senate President Ben Albritton. “Floridians are counting on us to maximize the use of their tax dollars by responsibly investing in key functions of government in a meaningful way, chief among these are education, health care, public safety, as well as our environmental, transportation, and clean water infrastructure. Through this budget, we are holding the line on spending, living within our means and striking the right balance between spending and saving.”
The budget provides a 3% pay increase for all state employees, with a minimum $1,000 raise, and 5% increases for state law enforcement officers, correctional officers, firefighters and park rangers. Health insurance premiums for state employees and retirees would remain unchanged.
K-12 public schools would receive $29.9 billion in total funding, including $15.9 billion in state funds and $14 billion in local revenue. The Florida Education Finance Program would increase by $692.8 million, or 2.37%, raising per-student funding by $150.98 to $9,338.34. The Base Student Allocation would increase by $50. The proposal also sets aside $65.3 million to assist districts experiencing enrollment declines.
Higher education funding includes $6.8 billion for the State University System and $2.6 billion for the Florida College System, with no required tuition increases. The plan allocates $350 million for performance-based funding and $100 million for preeminent research universities.
The Agency for Health Care Administration would receive $38 billion to fund Medicaid and KidCare programs, including $128.4 million for provider rate increases. The Department of Environmental Protection budget includes $738.6 million for Everglades restoration and $501.4 million for water quality improvements.
The proposal will be considered by the Senate Appropriations Committee before moving to the full Senate. The full Senate Budget brief can be read here.
