Topic: Trust Funds

A $1.2 billion surplus enabled lawmakers to boost spending in several areas including transportation projects boost in funding. Also, the Senate confirmed the head of the Department of Economic Opportunity and lawmakers nixed a requirement that jobless benefit seekers must take a skills test . Read more . . .

Environmental funding for the Indian River Lagoon, higher education funding formulas and conflicting tax cut packages mark some of the biggest difference between the House and Senate as the session winds to a close.

House and Senate budget negotiators have agreed to $167.7 million in funding for affordable housing programs next fiscal year. The figure is more for the programs than in recent years, but $58.5 million will swept from the affordable housing trust fund.

The chambers are getting closer to an agreement on how to reach Gov. Rick Scott's goal of $500 million in tax cuts. Lawmakers have already passed a $395 million reduction in vehicle registration fees.

The chambers' spending plans are closer than in recent years as lawmakers enjoy a $1.2 billion projected surplus. The differences will be worked out over the next several weeks. Lawmakers have until early May to pass a spending plan.

Sales tax holidays, a corporate income tax break and tax credits for defense contractors are all in play as lawmakers draft plans to reach Gov. Rick Scott's goal of $500 million in tax and fee cuts.

Drivers who opt to pay two year's worth of fees this year will miss out on next year's fee cut.

The two chambers' spending plans are similar, yet lawmakers are poised to clash over budget priorities in the coming weeks.

The bill cutting vehicle registration fees and license fees by about $25 a year for many motorists must still pass the House before reaching Gov. Rick Scott's desk.

The House proposal would sweep $136.8 million in affordable housing trust funds to pay for other items in the budget. The Senate, however, would use all $226.1 million in projected trust fund money for affordable housing projects.

Bills reducing vehicle and license fees by $395 million are moving in both the House and Senate - Gov. Rick Scott recommended a $400 million cut. Lawmakers say if the tag and license fee reductions are approved then other tax cut proposals will probably be left out.

The plan takes into account proposed tax cuts and additional money for state reserves.

Lawmakers will consider proposals to repeal red light cameras, increase incentives for TV and film projects and give taxpayer money to sports franchises for stadium improvements. Gov.Scott wants more money for Visit Florida and transportation projects.

Groups are hoping to keep funds originally dedicated for affordable housing programs in those programs this year. But lawmakers have swept those funds into general revenue more often than not over the last decade, and despite a large surplus this year the trust fund will be competing with other plans for tax cuts and spending increases in other areas.