HB 5501 Summary

• Terminates the Displaced Homemaker Trust Fund and transfers all remaining balances and revenues to the General Revenue Fund.

• Significantly expands oversight and transparency requirements for the Florida Tourism Industry Marketing Corporation and Enterprise Florida, Inc., including contract review procedures, financial reporting, website disclosures, and restrictions on compensation and expenses.

• Authorizes the Auditor General to audit the Florida Tourism Industry Marketing Corporation and requires the Department of Revenue to audit professional golf hall of fame facility distributions.

• Creates the Targeted Marketing Assistance Program to provide marketing support to small, minority, rural, and agritourism businesses, requiring annual reporting on program effectiveness.

• Transfers convention grants program authority from Enterprise Florida, Inc. to the Florida Tourism Industry Marketing Corporation and appropriates $25 million for FY 2017-2018 contracts with tourism and economic development entities.