Senate Bill 154 (2021) — Local government fiscal transparency
SB 154
Florida Bills
Florida Senate - 2021 SB 154 By Senator Diaz 36-00451-21 2021154__ Page 1 of 19 CODING: Words stricken are deletions; words underlined are additions. A bill to be entitled 1
An act relating to local government fiscal 2 transparency; amending s. 11.40, F.S.; expanding the 3 scope of a Legislative Auditing Committee review to 4 include compliance with local government fiscal 5 transparency requirements; amending s. 11.45, F.S.; 6 providing procedures for the Auditor General and local 7 governments to comply with the local government fiscal 8 transparency requirements; amending ss. 125.045 and 9 166.021, F.S.; revising reporting requirements for 10 certain local government economic development 11 incentives; revising classifications for economic 12 development incentives; requiring the Office of 13 Economic and Demographic Research to compare certain 14 results; renumbering s. 218.80, F.S., relating to the 15 Public Bid Disclosure Act; creating
part VIII of ch. 16 218, F.S., consisting of ss. 218.801, 218.803, 17 218.805, 218.81, 218.82, 218.83, 218.84, 218.88, and 18 218.89, F.S.; providing a
short title; providing a 19 purpose; defining terms; requiring local governments 20 to post certain voting record information on their 21 websites; requiring local government websites to 22 provide links to related websites under certain 23 circumstances; requiring such websites and the 24 information on those websites to comply with a 25 specified federal law; requiring property appraisers 26 and local governments to post certain property tax 27 information and history on their websites; requiring 28 public notices for public hearings and meetings before 29
Florida Senate - 2021 SB 154 36-00451-21 2021154__ Page 2 of 19 CODING: Words stricken are deletions; words underlined are additions. certain tax increases or the issuance of new tax-30 supported debt; specifying noticing and advertising 31 requirements for such public hearings and meetings; 32 providing applicability; requiring local governments 33 to conduct certain debt affordability analyses under 34 specified conditions; specifying requirements for the 35 analyses; requiring audits of local governments to 36 include affidavits executed by the chair of the local 37 government governing board; requiring specified 38 information to accompany audits of local governments 39 and to be filed with the Auditor General; providing a 40 method to post certain required information for local 41 governments that do not operate a website; amending 42 ss. 215.97 and 218.32, F.S.; conforming cross-43 references; declaring that the act fulfills an 44 important state interest; providing an effective date. 45 46 Be It Enacted by the Legislature of the State of Florida: 47 48
Section 1. Subsection (2) of
section 11.40, Florida 49 Statutes, is amended to read: 50 11.40 Legislative Auditing Committee.— 51
(2) Following notification by the Auditor General, the 52 Department of Financial Services, the Division of Bond Finance 53 of the State Board of Administration, the Governor or his or her 54 designee, or the Commissioner of Education or his or her 55 designee of the failure of a local governmental entity, district 56 school board, charter school, or charter technical career center 57 to comply with the applicable provisions within s. 11.45(5)-(7), 58
Florida Senate - 2021 SB 154 36-00451-21 2021154__ Page 4 of 19 CODING: Words stricken are deletions; words underlined are additions. held, the Legislative Auditing Committee may request the 88 department to proceed pursuant to s. 189.067(3). 89 2. A local ordinance, notify the chair or equivalent of the 90 local general-purpose government pursuant to s. 189.0652 and the 91 Department of Economic Opportunity that the special district has 92 failed to comply with the law.
Upon receipt of notification, the 93 department shall proceed pursuant to s. 189.062 or s. 189.067. 94 If the special district remains in noncompliance after the 95 process set forth in s. 189.0652, or if a public hearing is not 96 held, the Legislative Auditing Committee may request the 97 department to proceed pursuant to s. 189.067(3). 98 3. Any manner other than a special act or local ordinance, 99 notify the Department of Economic Opportunity that the special 100 district has failed to comply with the law.
Upon receipt of 101 notification, the department shall proceed pursuant to s. 102 189.062 or s. 189.067(3). 103 (
c) In the case of a charter school or charter technical 104 career center, notify the appropriate sponsoring entity, which 105 may terminate the charter pursuant to ss. 1002.33 and 1002.34. 106
Section 2. Present paragraphs (
d) through (
j) of subsection 107 (7) of
section 11.45, Florida Statutes, are redesignated as 108 paragraphs (
e) through (k), respectively, and a new paragraph 109 (
d) is added to that subsection, to read: 110 11.45
Definitions; duties; authorities; reports; rules.— 111
(7) AUDITOR GENERAL REPORTING REQUIREMENTS.— 112 (
d) During the Auditor General’s review of audit reports, 113 the Auditor General shall contact each local government, as 114 defined in s. 218.805(2), that is not in compliance with
part 115 VIII of
chapter 218 and request evidence of corrective action. 116
Florida Senate - 2021 SB 154 36-00451-21 2021154__ Page 5 of 19 CODING: Words stricken are deletions; words underlined are additions. The local government shall provide the Auditor General with 117 evidence of the initiation of corrective action within 45 days 118 after the date it is requested by the Auditor General and 119 evidence of completion of corrective action within 180 days 120 after the date it is requested by the Auditor General. If the 121 local government fails to comply with the Auditor General’s 122 request or is unable to take corrective action within the 123 required timeframe, the Auditor General shall notify the 124 Legislative Auditing Committee. 125
Section 3. Subsection (5) of
section 125.045, Florida 126 Statutes, is amended to read: 127 125.045 County economic development powers.— 128 (5)(
a) By January 15 of each year By January 15, 2011, and 129 annually thereafter, each county shall report to the Office of 130 Economic and Demographic Research the economic development 131 incentives in excess of $25,000 given to each business any 132 business during the county’s previous fiscal year.
The Office of 133 Economic and Demographic Research shall compile the information 134 from the counties into a report and provide the report to the 135 President of the Senate, the Speaker of the House of 136 Representatives, and the Department of Economic Opportunity. 137 Each county must identify whether the economic development 138 incentives were provided directly by the county or by another 139 entity on behalf of the county, as well as the source of local 140 dollars and any state or federal dollars obligated for the 141 incentive.
Economic development incentives are classified as 142 follows include: 143 1. Class I: Direct Financial incentives of monetary 144 assistance provided to an individual a business from the county 145
Florida Senate - 2021 SB 154 36-00451-21 2021154__ Page 6 of 19 CODING: Words stricken are deletions; words underlined are additions. or through an organization authorized by the county. Such 146 incentives include:, but are not limited to, grants, loans, 147 equity investments, loan insurance and guarantees, and training 148 subsidies. 149 a. Grants. 150 b. Tax-based credits, refunds, or exemptions. 151 c. Fee-based credits, refunds, or exemptions. 152 d. Loans, loan insurance, or loan guarantees. 153 e. Below-market rate leases or deeds for real property. 154 f. Job training or recruitment. 155 g.
Subsidized or discounted government services. 156 h. Infrastructure improvements. 157 2. Class II: General assistance, services, and support 158 provided collectively to businesses with a common interest or 159 purpose. Such incentives include: 160 a. Technical assistance and training. 161 b. Business incubators and accelerators. 162 c. Infrastructure improvements Indirect incentives in the 163 form of grants and loans provided to businesses and community 164 organizations that provide support to businesses or promote 165 business investment or development. 166 3.
Class III: Business recruitment, retention, or expansion 167 efforts provided to benefit an individual business or a class of 168 businesses. Such incentives include: 169 a. Marketing and market research. 170 b. Trade missions and trade shows. 171 c. Site selection. 172 d. Targeted assistance with the permitting and licensing 173 process. 174
Florida Senate - 2021 SB 154 36-00451-21 2021154__ Page 7 of 19 CODING: Words stricken are deletions; words underlined are additions. e. Business plan or project development Fee-based or tax-175 based incentives, including, but not limited to, credits, 176 refunds, exemptions, and property tax abatement or assessment 177 reductions. 178 4. Below-market rate leases or deeds for real property. 179 (
b) A county shall report its economic development 180 incentives in the format specified by the Office of Economic and 181 Demographic Research. 182 (
c) The Office of Economic and Demographic Research shall 183 compile the economic development incentives provided by each 184 county in a manner that shows the total of each class of 185 economic development incentives provided by each county and all 186 counties. To the extent possible, the office shall compare the 187 results of the economic development incentives provided by all 188 counties to the results of state incentives provided within 189 similar classes. 190
Section 4. Paragraph (
e) of subsection (8) of
section 191 166.021, Florida Statutes, is amended to read: 192 166.021 Powers.— 193 (8) 194 (e)1. By January 15 of each year By January 15, 2011, and 195 annually thereafter, each municipality having annual revenues or 196 expenditures greater than $250,000 shall report to the Office of 197 Economic and Demographic Research the economic development 198 incentives in excess of $25,000 given to each business any 199 business during the municipality’s previous fiscal year. The 200 Office of Economic and Demographic Research shall compile the 201 information from the municipalities into a report and provide 202 the report to the President of the Senate, the Speaker of the 203
Florida Senate - 2021 SB 154 36-00451-21 2021154__ Page 8 of 19 CODING: Words stricken are deletions; words underlined are additions. House of Representatives, and the Department of Economic 204 Opportunity. Each municipality must identify whether the 205 economic development incentives were provided directly by the 206 municipality or by another entity on behalf of the municipality, 207 as well as the source of local dollars and any state or federal 208 dollars obligated for the incentive. Economic development 209 incentives are classified as follows include: 210 a.
Class I: Direct Financial incentives of monetary 211 assistance provided to an individual a business from the 212 municipality or through an organization authorized by the 213 municipality. Such incentives include:, but are not limited to, 214 grants, loans, equity investments, loan insurance and 215 guarantees, and training subsidies. 216 (
I) Grants. 217 (II) Tax-based credits, refunds, or exemptions. 218 (III) Fee-based credits, refunds, or exemptions. 219 (IV) Loans, loan insurance, or loan guarantees. 220 (
V) Below-market rate leases or deeds for real property. 221 (VI) Job training or recruitment. 222 (VII) Subsidized or discounted government services. 223 (VIII) Infrastructure improvements. 224 b. Class II: General assistance, services, and support 225 provided collectively to businesses with a common interest or 226 purpose. Such incentives include: 227 (
I) Technical assistance and training. 228 (II) Business incubators and accelerators. 229 (III) Infrastructure improvements Indirect incentives in 230 the form of grants and loans provided to businesses and 231 community organizations that provide support to businesses or 232
Florida Senate - 2021 SB 154 36-00451-21 2021154__ Page 9 of 19 CODING: Words stricken are deletions; words underlined are additions. promote business investment or development. 233 c. Class III: Business recruitment, retention, or expansion 234 efforts provided to benefit an individual business or a class of 235 businesses. Such incentives include: 236 (
I) Marketing and market research. 237 (II) Trade missions and trade shows. 238 (III) Site selection. 239 (IV) Targeted assistance with the permitting and licensing 240 process. 241 (
V) Business plan or project development Fee-based or tax-242 based incentives, including, but not limited to, credits, 243 refunds, exemptions, and property tax abatement or assessment 244 reductions. 245 d. Below-market rate leases or deeds for real property. 246 2. A municipality shall report its economic development 247 incentives in the format specified by the Office of Economic and 248 Demographic Research. 249 3.
The Office of Economic and Demographic Research shall 250 compile the economic development incentives provided by each 251 municipality in a manner that shows the total of each class of 252 economic development incentives provided by each municipality 253 and all municipalities. To the extent possible, the office shall 254 compare the results of the economic development incentives 255 provided by all municipalities to the results of state 256 incentives provided within similar classes. 257
Section
Section 218.80, Florida Statutes, is renumbered 258 as
section 218.795, Florida Statutes. 259
Section 6.
Part VIII of
chapter 218, Florida Statutes, 260 consisting of sections 218.801, 218.803, 218.805, 218.81, 261
Florida Senate - 2021 SB 154 36-00451-21 2021154__ Page 10 of 19 CODING: Words stricken are deletions; words underlined are additions. 218.82, 218.83, 218.84, 218.88, and 218.89, is created to read: 262
PART VIII 263 LOCAL GOVERNMENT FISCAL TRANSPARENCY ACT 264 218.801
Short title.—This part may be cited as the “Local 265 Government Fiscal Transparency Act.” 266 218.803 Purpose.—The purpose of this
part is to promote the 267 fiscal transparency of local governments when using public funds 268 by requiring additional public noticing of proposed local 269 government actions that increase taxes, enact new taxes, extend 270 expiring taxes, or issue tax-supported debt and by requiring 271 voting records of local governing bodies related to such actions 272 to be easily and readily accessible by the public. 273 218.805
Definitions.—As used in this part, the term: 274 (1) “Debt” means bonds, loans, promissory notes, lease-275 purchase agreements, certificates of participation, installment 276 sales, leases, or any other financing mechanisms or financial 277 arrangements, regardless of whether they are debt for legal 278 purposes or for financing or refinancing the acquisition, 279 construction, improvement, or purchase of capital outlay 280 projects. 281 (2) “Local government” means any county, municipality, 282 school district, special district dependent upon a county or 283 municipality, municipal service taxing unit, or independent 284 special district, but does not include special dependent or 285 independent districts established to provide hospital services, 286 provided such special districts do not levy, assess, or collect 287 ad valorem taxes. 288 (3) “Tax increase” means: 289 (
a) For ad valorem taxes, any increase in a local 290
Florida Senate - 2021 SB 154 36-00451-21 2021154__ Page 11 of 19 CODING: Words stricken are deletions; words underlined are additions. government’s millage rate above the rolled-back rate as 291 described in s. 200.065(1). 292 (
b) For all other taxes, an increase in the tax rate, the 293 enactment of a new tax, or an extension of a tax. 294 (4) “Tax-supported debt” means debt with a duration of more 295 than 5 years secured in whole or in part by state or local tax 296 levies, regardless of whether such security is direct or 297 indirect or explicit or implicit, and includes debt for which 298 annual appropriations pledged for payment are from government 299 fund types receiving tax revenues or shared revenues from state 300 tax sources. The term does not include debt secured solely by 301 revenues generated by the project that is financed with the 302 debt. 303 218.81 Voting record access.— 304
(1) Each local government shall post on its website, in a 305 manner that is easily accessible to the public, a history of the 306 voting record of each action taken by the local governing board 307 that addressed a tax increase or new tax-supported debt 308 issuance, except debt that was refinanced or refunded and that 309 did not extend the term or increase the outstanding principal 310 amount of the original debt, as follows: 311 (
a) By October 1, 2021, the voting record history from the 312 preceding year. 313 (
b) By October 1, 2022, the voting record history from the 314 preceding 2 years. 315 (
c) By October 1, 2023, the voting record history from the 316 preceding 3 years. 317 (
d) By October 1, 2024, and each October 1 thereafter, the 318 voting record history from the preceding 4 years. 319
Florida Senate - 2021 SB 154 36-00451-21 2021154__ Page 12 of 19 CODING: Words stricken are deletions; words underlined are additions.
(2) The local government’s website must provide links to 320 allow users to navigate to related websites if supporting 321 details or documentation are available, and the websites and the 322 information on those websites must comply with the Americans 323 with Disabilities Act. 324
(3) In each public notice of a tax increase or the issuance 325 of new tax-supported debt, each local government shall include 326 with the public notice the website address at which the voting 327 records can be accessed. 328 218.82 Property tax information and history.— 329
(1) Each county property appraiser, as defined in s. 330 192.001(3), shall maintain a website that includes, in a manner 331 easily accessible to the public, links that provide access to: 332 (
a) The notice of proposed property taxes and non-ad 333 valorem assessments required under s. 200.069 for each parcel of 334 property in the county. 335 (
b) A history of the millage rate and the amount of tax 336 levied by each taxing authority on each parcel in the county as 337 follows: 338 1. By October 1, 2021, the history from the preceding 2 339 years. 340 2. By October 1, 2022, the history from the preceding 3 341 years. 342 3. By October 1, 2023, and each October 1 thereafter, the 343 history from the preceding 4 years. 344 345 This subsection does not apply to information that is otherwise 346 exempt from public disclosure. 347
(2) Each local government shall post on its website, in a 348
Florida Senate - 2021 SB 154 36-00451-21 2021154__ Page 13 of 19 CODING: Words stricken are deletions; words underlined are additions. manner that is easily accessible to the public, links that 349 provide access to a history of each of its millage rates and the 350 total annual amount of revenue generated by each of these 351 levies, as follows: 352 (
a) By October 1, 2021, the history from the preceding 2 353 years. 354 (
b) By October 1, 2022, the history from the preceding 3 355 years. 356 (
c) By October 1, 2023, and each October 1 thereafter, the 357 history from the preceding 4 years. 358 218.83 Expanded public noticing of tax increases and 359 issuance of new tax-supported debt.— 360
(1) For purposes of this section, the term “tax increase” 361 does not include an ad valorem tax increase and the term “tax-362 supported debt” does not include debt approved by referendum and 363 secured by ad valorem taxes. 364
(2) A local government that intends to vote on a proposed 365 tax increase or the issuance of new tax-supported debt shall 366 advertise a public hearing to solicit public input concerning 367 the proposed tax increase or the issuance of new tax-supported 368 debt. This public hearing must occur at least 14 days before the 369 scheduled date of the local governing board meeting to take a 370 final vote on the proposed tax increase or the issuance of new 371 tax-supported debt. Any hearing required under this subsection 372 shall be held after 5 p.m. if scheduled on a day other than 373 Saturday.
A hearing may not be held on a Sunday. The general 374 public must be allowed to speak and to ask questions relevant to 375 the proposed tax increase or the issuance of new tax-supported 376 debt. The local government shall provide public notice as 377
Florida Senate - 2021 SB 154 36-00451-21 2021154__ Page 14 of 19 CODING: Words stricken are deletions; words underlined are additions. provided in subsection (4). 378 (3)(
a) If, following the public hearing, the local 379 government intends to proceed with a vote to approve a tax 380 increase or the issuance of tax-supported debt, the local 381 government shall provide public notice in the manner set forth 382 in subsection (4) at least 10 days before the scheduled public 383 meeting date. 384 (
b) For a proposed tax increase, the notice must also 385 include, at a minimum: 386 1. A statement prominently posted that the local government 387 intends to vote on a proposed tax, tax extension, or tax 388 increase. 389 2. The time and place of the public meeting. 390 3. The amount of the tax increase, including both the rate 391 and the total amount of annual revenue expected to be generated 392 and the expected annual revenue expressed as a percentage of the 393 government’s general fund revenue. 394 4. A detailed explanation of the intended uses of the levy. 395 5. A statement indicating whether the local government 396 expects to use the proceeds to secure debt. 397 (
c) For new tax-supported debt issuance, the notice must 398 also include, at a minimum: 399 1. A statement prominently posted that the local government 400 intends to vote on a proposed new issuance of tax-supported 401 debt. 402 2. The time and place of the public meeting. 403 3. A truth-in-bonding statement in substantially the 404 following form: 405 “The ...(insert local government name)... is proposing to 406
Florida Senate - 2021 SB 154 36-00451-21 2021154__ Page 15 of 19 CODING: Words stricken are deletions; words underlined are additions. issue $...(insert principal)... of debt or obligation for the 407 purpose of ...(insert purpose).... This debt or obligation is 408 expected to be repaid over a period of ...(insert term of 409 issue)... years. At a forecasted interest rate of ...(insert 410 rate of interest)..., total interest paid over the life of the 411 debt or obligation will be $...(insert sum of interest 412 payments)....
The source of repayment or security for this 413 proposal is the ...(insert the local government name)... 414 existing ...(insert fund).... Authorizing this debt or 415 obligation will result in $...(insert the annual amount)... of 416 ...(insert local government name)... ...(insert fund)... moneys 417 not being available to finance the other services of the 418 ...(insert local government name)... each year for ...(insert 419 the length of the debt or obligation)....” 420 4.
A description of the debt affordability ratios 421 calculated pursuant to s. 218.84 in substantially the following 422 form: 423 “The following ratios measure the affordability of 424 outstanding and proposed new long-term, tax-supported debt 425 issued by...(insert local government name).... The ratios show 426 debt service as a percentage of the revenues available to 427 support the debt, including the new debt being proposed 428 ...(insert 5-year history and 2-year projection of debt 429 affordability ratio)....” 430
(4) The notice provided by a local government announcing a 431 public hearing to take public input as provided in subsection 432 (2) or the public meeting to take a final vote as provided in 433 subsection (3) must meet the following requirements: 434 (
a) The local government must advertise notice in a 435
Florida Senate - 2021 SB 154 36-00451-21 2021154__ Page 16 of 19 CODING: Words stricken are deletions; words underlined are additions. newspaper of general circulation in the county or counties in 436 which the local government exists. A local government may 437 advertise in a geographically limited insert of a newspaper of 438 general circulation if the region encompassed by the insert 439 contains the jurisdictional boundaries of the local government. 440 The newspaper must be of general interest to readership in the 441 community and not one of limited subject matter pursuant to 442
chapter 50. The notice: 443 1. Must be at least one-quarter page in size in a newspaper 444 of standard size or one-half page in size in a newspaper of 445 tabloid size and the headline of the notice must be in at least 446 18-point type. 447 2. May not be placed in that portion of the newspaper in 448 which legal notices and classified advertisements appear. 449 3. Must appear in a newspaper that is published at least 5 450 days a week unless the only newspaper in the county is published 451 fewer than 5 days a week.
If the notice appears in a 452 geographically limited insert of a newspaper of general 453 circulation, the insert must be one that is published at least 454 twice a week throughout the local government’s jurisdiction. 455 456 In lieu of publishing the notice, the local government may mail 457 a copy of the notice to each elector residing within the 458 jurisdiction of the local government. 459 (
b) The local government must post on its website in a 460 manner that is easily accessible to the public the information 461 required under subsections (2) and (3), as applicable. 462
(5) This
section does not apply to the refinancing or 463 refunding of debt that does not extend the term or increase the 464
Florida Senate - 2021 SB 154 36-00451-21 2021154__ Page 17 of 19 CODING: Words stricken are deletions; words underlined are additions. outstanding principal amount of the original debt. 465 218.84 Local government debt fiscal responsibility.— 466
(1) It is the public policy of this state to encourage 467 local governments to exercise prudence in authorizing and 468 issuing debt. Before a local government authorizes debt, it must 469 consider its ability to meet its total debt service obligations 470 in light of other demands on the local government’s fiscal 471 resources. Each local government shall perform a debt 472 affordability analysis as set forth in subsection (2), and the 473 governing board shall consider the analysis before approving the 474 issuance of new tax-supported debt. 475
(2) The debt affordability analysis shall, at a minimum, 476 consist of the calculation of the local government’s actual debt 477 affordability ratio for the 5 fiscal years before the year the 478 debt is expected to be issued and a projection of the ratio for 479 at least the first 2 fiscal years in which the debt is expected 480 to be issued. The analysis must include a comparison of the debt 481 affordability ratio with and without the new debt issuance. 482
(3) The debt affordability ratio for a given fiscal year 483 shall be a ratio: 484 (
a) The numerator of which is the total annual debt service 485 for outstanding tax-supported debt of the local government. 486 (
b) The denominator of which is the total annual revenues 487 available to pay debt service on outstanding tax-supported debt 488 of the local government. 489 218.88 Audits.—Audits of financial statements of local 490 governments which are performed by a certified public accountant 491 pursuant to s. 218.39 and submitted to the Auditor General must 492 be accompanied by an affidavit executed by the chair of the 493
Florida Senate - 2021 SB 154 36-00451-21 2021154__ Page 18 of 19 CODING: Words stricken are deletions; words underlined are additions. governing board of the local government, as a separate document, 494 stating that the local government has complied with this
part 495 and must be filed with the Auditor General or, if the local 496 government has not complied with this part, the affidavit must 497 include a description of the noncompliance and corrective action 498 taken by the local government to correct the noncompliance and 499 to prevent such noncompliance in the future. 500 218.89 Local government websites.—If a local government is 501 required under this part to post information on its website but 502 does not operate an official website, the local government must 503 provide the county or counties in which the local government is 504 located the information required to be posted, and each such 505 county shall post the required information on its website. 506
Section 7. Paragraph (
a) of subsection (2) of
section 507 215.97, Florida Statutes, is amended to read: 508 215.97 Florida Single Audit Act.— 509
(2) As used in this section, the term: 510 (a) “Audit threshold” means the threshold amount used to 511 determine when a state single audit or project-specific audit of 512 a nonstate entity shall be conducted in accordance with this 513 section.
Each nonstate entity that expends a total amount of 514 state financial assistance equal to or in excess of $750,000 in 515 any fiscal year of such nonstate entity shall be required to 516 have a state single audit or a project-specific audit for such 517 fiscal year in accordance with the requirements of this section. 518 After consulting with the Executive Office of the Governor, the 519 Department of Financial Services, and all state awarding 520 agencies, the Auditor General shall periodically review the 521 threshold amount for requiring audits under this
section and may 522
Florida Senate - 2021 SB 154 36-00451-21 2021154__ Page 19 of 19 CODING: Words stricken are deletions; words underlined are additions. recommend any appropriate statutory change to revise the 523 threshold amount in the annual report submitted to the 524 Legislature pursuant to s. 11.45(7)(
i) s. 11.45(7)(h). 525
Section 8. Paragraph (
e) of subsection (1) of
section 526 218.32, Florida Statutes, is amended to read: 527 218.32 Annual financial reports; local governmental 528 entities.— 529 (1) 530 (
e) Each local governmental entity that is not required to 531 provide for an audit under s. 218.39 must submit the annual 532 financial report to the department no later than 9 months after 533 the end of the fiscal year. The department shall consult with 534 the Auditor General in the development of the format of annual 535 financial reports submitted pursuant to this paragraph. The 536 format must include balance sheet information used by the 537 Auditor General pursuant to s. 11.45(7)(
g) s. 11.45(7)(f). The 538 department must forward the financial information contained 539 within the annual financial reports to the Auditor General in 540 electronic form. This paragraph does not apply to housing 541 authorities created under
chapter 421. 542