CS for SB 1714: Economic Development and Tourism Promotion Accountability

• Creates comprehensive regulatory framework for local economic development and tourism promotion agencies, including financial disclosure requirements, compensation limits, and conflict of interest protocols for board members and officers.

• Requires economic development agencies to submit large contracts ($250,000+) to local governing bodies for 14-day review period before execution, and mandates annual financial reports published on agency websites within 30 days of fiscal year end.

• Establishes lodging expense cap of $150 per day for employees and board members, prohibits certain bonuses and severance pay unless authorized by law, and limits officer compensation to amounts not exceeding the chief administrative officer of the local governmental entity.

• Mandates agencies post contracts over $5,000, board meeting videos, marketing event reports, and travel/entertainment expenditures on websites; grants Auditor General authority to audit at least two agencies annually and requires noncompliant agencies to cease receiving public funds.

• Creates criminal penalties for knowingly making false statements, providing misleading information, or structuring agreements to avoid requirements; applies to both new economic development agencies (s. 288.0751) and tourism promotion agencies (s. 288.12261).