FL S1416

Defines "municipality of special financial concern" as municipalities meeting criteria under s. 200.185 with per capita taxable property value of $58,000 or less, or municipalities with population under 20,000 and per capita taxable property value of $46,000 or less.

Allows municipalities of special financial concern or those with annual revenues/expenditures under $1 million to apply for waivers from updating capital improvements elements and regional water supply plan amendments if they meet specified criteria including minimal vacant property, no scheduled capital improvements, or no recent annexation or development activity.

Grants municipalities of special financial concern or those with annual revenues/expenditures under $1 million the ability to apply for waivers from scoping meeting and other requirements during comprehensive plan evaluation and appraisal processes.

Raises the financial audit requirement threshold for municipalities from $250,000 to $1 million in revenues or total expenditures and expenses.

Modifies audit requirements for municipalities with revenues or expenditures between $100,000 and $250,000 to exclude those that have not been audited in the preceding 2 fiscal years, and changes the threshold to apply only to municipalities with less than $1 million in revenues or expenditures and expenses.