CS/HB 1071 Summary

• Amends Chapter 2004-397, Laws of Florida, to revise the South Broward Hospital District Board of Commissioners' investment authority and procedures.

• Authorizes the board to invest district funds in accordance with an investment policy that mandates prudent investment practices designed to maximize financial return while preserving portfolio diversification.

• Deletes the specific statutory list of authorized investments, replacing it with flexibility to invest according to a board-adopted investment policy that complies with general Florida law, particularly Section 218.415, Florida Statutes.

• Revises construction and severability provisions to clarify liberal interpretation of the act's purposes and establish that if any provision is held invalid, remaining provisions remain enforceable.

• Takes effect upon becoming law with no specified date.