By CBSMiami.com Team

TALLAHASSEE (CBSMiami/NSF) – Florida lawmakers will be able to vote Friday afternoon on a record $101.5 billion budget for the upcoming year and end the regular legislative session on time.

House Speaker Chris Sprowls announced that the budget went to lawmakers at 12:06 p.m. Tuesday, starting a legally required 72-hour “cooling off” period before the spending plan can be approved.

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The 60-day legislative session is scheduled to end Friday, and the budget is the only bill lawmakers must pass.

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House and Senate leaders finished negotiating the budget Monday night, after reaching an agreement on spending about $6.7 billion in federal COVID-19 stimulus money. The state expects to receive about $10 billion through the American Rescue Plan Act, with unspent money going into state reserves.

“I do believe we will continue to see some fluctuation and some uncertainty as our economy recovers,” Senate President Wilton Simpson said in a prepared statement Tuesday. “With this reality in mind, our budget utilizes available federal funding to make some significant nonrecurring investments in key infrastructure priorities that will create jobs and further bolster Florida’s recovering economy. “

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CBSMiami.com Team