SB 1674 Florida Senate · 2025 Regular Session

Unrated Bonds

SB 1674, titled "Unrated Bonds," prohibits local governments from requiring a minimum bond rating for certain types of investments. This means local government entities would no longer be able to mandate that an investment hold a specific rating (e.g., AAA, BB) before they can invest in it. The bill directly affects local governments by removing a current restriction on their investment policies for these particular investments.

Issues: ✓ Budget & Taxes

Bill status in committee 3 of 5 stages cleared

Introduction

Mar 2025

Committee Review

Apr 2025

Senate Passage

Apr 2025

House Passage

Governor

Introduced Mar 10, 2025 Last action Apr 24, 2025

Maddy AI version diff · 1 comparison

What changed between versions

S 1674 Filed → S 1674 c1 · 2 edits

MINOR

This bill amends Florida's local government investment policies to clarify that local governments cannot require minimum bond ratings for certain unrated bond investments. The change removes a blanket prohibition on minimum bond ratings and instead creates a specific exception for investments authorized under a particular subsection of the law.

Scope change

The bill narrows the scope of the bond rating prohibition by specifying it only applies to investments authorized under paragraph (16)(f) of the relevant statute, rather than all unrated bonds.

REQUIREMENT

Changed the language from 'shall not require a minimum bond rating if the provisions of subsection (16) authorize unrated bonds' to 'may not require a minimum bond rating for investments authorized pursuant to paragraph (16)(f)', making the exception more specific.

TECHNICAL

Updated formatting and line numbers to reflect the committee substitute version, with minor text adjustments for consistency.

Floor votes · Senate Apr 21, 2025

How they voted

23–0

Passed · 2 other

Total votes 25

Apr 21, 2025

D Democratic5

5 Yea

100% Yea

I Independent1

1 Yea

100% Yea

R Republican19

17 Yea 2

89% Yea

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Apr 21, 2025

Senate · Passed

Senate Vote: pass (23-0-2)

senate

Apr 21, 2025

Upper · Passed

Favorable by- Rules; YEAS 23 NAYS 0

upper

Apr 17, 2025

Upper · Passed

On Committee agenda-- Rules, 04/21/25, 2:00 pm, 412 Knott Building

upper

Apr 17, 2025

Upper · Passed

Favorable by Fiscal Policy; YEAS 17 NAYS 0

upper

Apr 14, 2025

Upper · Passed

On Committee agenda-- Fiscal Policy, 04/17/25, 9:00 am, 412 Knott Building

upper

Apr 1, 2025

Upper · Passed

Pending reference review under Rule 4.7(2) - (Committee Substitute)

upper

Mar 26, 2025

Upper · Passed

On Committee agenda-- Community Affairs, 03/31/25, 4:00 pm, 37 Senate Building

upper

Mar 10, 2025

Introduced

upper

Mar 7, 2025

Committee

Referred to Community Affairs; Governmental Oversight and Accountability; Rules

upper

1 primary · 2 co-sponsors