BRADENTON, Fla. - The Republican-controlled Florida Legislature Friday ended a week-long special session with passage of a $66.5 billion budget for fiscal 2010 that authorizes the issuance of $1.4 billion of new debt.

With the recession taking a toll on revenues, the budget that takes effect July 1 relies on $5.3 billion in federal stimulus funding, $800 million in new fees and cuts, and $300 million for education from an Indian gaming compact, which also passed on Friday but still must be ratified by the Seminole tribe.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.