BRADENTON, Fla. — Based on current revenue projections and existing borrowing plans, Florida does not have capacity to issue debt for new programs for the next two fiscal years and stay within its self-imposed debt cap.

The state's annual debt affordability study released earlier this month measures the ratio of debt service to available revenues and calculates the capacity for bond issuance within legislatively imposed targets. The state uses a 6% target debt service to revenue ratio as the goal and sets 7% as the cap.

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