FL S0506

Nonprofit corporations receiving at least 50% of their annual revenue from state funds, or $750,000 or more in state funds per fiscal year, must submit an annual compensation report to the Department of Management Services by January 15 each year

Reports must detail the name, position, and total annual compensation—including bonuses, exit bonuses, accrued paid time off, severance payments, and incentive payments—for directors, board members, CEOs, CFOs, COOs, and equivalent officers, verified under penalty of perjury

The Department of Management Services must publish the reported compensation data on its existing public transparency website beginning February 1, 2022, and each February 1 thereafter

Nongovernmental entities subject to the reporting requirement must also post the compensation information on their own websites and must submit verified attestations of compliance before receiving any government funds

Beginning January 15, 2022, governmental entities are prohibited from expending, transferring, or distributing funds to any nongovernmental entity that has not complied with the reporting requirements, applicable to contracts executed, amended, extended, or renewed on or after July 1, 2021