HB5432 Summary

• Amends county and municipal codes to require initial audit reports on CATV franchise fees to include a complete list of all addresses within corporate limits and be delivered within 90 days of receiving operator information.

• Caps contingent fees paid to auditors and subcontractors at 25% of net amount recovered, inclusive of interest and penalties.

• Requires counties and municipalities to provide CATV operators with updated complete address lists annually and within 90 days of written request before franchise fees are derived.

• Holds CATV operators harmless for franchise fee underpayments resulting from situsing errors if the county or municipality fails to provide the required address list and the operator used reasonable methodology.

• Applies to franchise agreements entered into, amended, or renewed on or after the bill's effective date and to any CATV operator audits conducted after that date.