FL S2420

Replaces existing state revenue limit based on Florida personal income growth with a new limit tied to 2010-2011 fiscal year revenues adjusted annually for inflation and population change combined.

Requires two-thirds voter approval before the state can impose new taxes, fees, assessments, or charges for services.

Directs revenues exceeding the revenue limit to the budget stabilization fund first, then to a separate cash reserve; excess revenues may only be spent with two-thirds legislative vote or for tax relief.

Permits emergency taxes only when the Governor declares a state of emergency and the legislature approves by two-thirds vote, but excludes economic conditions and revenue shortfalls from emergency definitions.

Requires two-thirds voter approval before the state can incur multi-year debt or financial obligations without adequate cash reserves pledged for all future fiscal years.