FL S0958

Replaces the existing state revenue limitation based on Florida personal income growth with a new limitation based on inflation and population changes, effective for fiscal year 2014-2015.

Establishes a phased-in adjustment for growth from 2014-2015 through 2018-2019, starting at 4.04% above growth and decreasing by 0.01% annually until reaching growth-only adjustments.

Directs state revenues exceeding the limitation to the budget stabilization fund first, then to reduce school district minimum financial effort requirements or be returned to taxpayers.

Allows the legislature to increase the revenue limitation by a two-thirds vote for permanent increases or three-fifths vote for single-year increases, or submit voter-approved increases requiring 60% voter approval.

Adjusts the definition of "state revenues" to exclude bond revenues, Medicaid matching funds, lottery prizes, hurricane fund receipts, public university receipts, and revenues authorized by constitutional amendments after May 6, 2011.