BRADENTON, Fla. - Florida has no capacity to issue new debt beyond what is already is planned for the next three fiscal years because plummeting state revenues are expected to push it above a self-imposed debt service ratio, according to the state's 2008 debt affordability report.

The annual report that measures the ratio of annual debt service payments to available revenues was forwarded Monday to top lawmakers as well as House and Senate appropriation committees that are meeting this week to prepare for a Jan. 5-16 special session to cut more than $2 billion from the budget.

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