SB 1870: Corporate Transparency in the State Budget Act

• Requires granting bodies and applicants for development subsidies valued at $25,000+ to complete standardized applications containing detailed information on jobs, wages, benefits, relocation impacts, and subsidy details.

• Mandates annual and biennial progress reports from subsidy recipients documenting job creation, wage compliance, employment changes, and LEED certification status, with data published in searchable databases by the Department of Economic Opportunity.

• Requires contracting agencies to establish measurable performance standards for contracts over $25,000 and file annual reports detailing contractor wages, workforce composition, savings achieved, and compliance with contract terms.

• Establishes corporate tax disclosure requirements for publicly traded corporations and their affiliates doing business in Florida, requiring filing of detailed tax information in searchable public databases within 30-90 days of tax return filing.

• Creates private enforcement mechanisms allowing taxpayers to sue to compel compliance with reporting requirements, authorizes fines of at least $500 per day for non-compliance, and requires publication of property tax abatement and reduction information by property taxing entities.