HB 1125 2024
CODING: Words stricken are deletions; words underlined are additions.
hb1125-00
Page 1 of 20
F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
A bill to be entitled 1
An act relating to economic development in gaming 2
concentrated counties; creating s. 288.401, F.S.; 3
providing a short title; creating s. 288.402, F.S.; 4
providing legislative findings and intent; creating s. 5
288.403, F.S.; providing definitions; creating s. 6
288.404, F.S.; creating Prospect Del Vista, Inc., as a 7
nonprofit corporation which is not a unit or entity of 8
state government; requiring Prospect Del Vista, Inc., 9
to create and administer an investment fund for a 10
certain purpose in a certain manner; providing for the 11
principal of the fund; requiring Prospect Del Vista, 12
Inc., to establish a trust account for a certain 13
purpose; providing for the reversion of certain funds 14
to the State Treasury in certain circumstances; 15
requiring Prospect Del Vista, Inc., to invest and 16
reinvest the principal of the investment fund in a 17
certain manner; requiring the board of directors to 18
formulate a certain investment policy ; requiring 19
Prospect Del Vista, Inc., to competitively procure one 20
or more money managers; providing requirements for 21
such money managers; providing for the deduction of 22
certain costs and fees from investment fund earnings; 23
requiring an annual audit of the investment fund; 24
requiring Prospect Del Vista, Inc., to provide certain 25
HB 1125 2024
CODING: Words stricken are deletions; words underlined are additions.
hb1125-00
Page 2 of 20
F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
biannual reports to the Governor and the Legislature; 26
requiring the Auditor General to annually audit the 27
investment fund and Prospect Del Vista, Inc.; creating 28
s. 288.405, F.S.; prov iding that Prospect Del Vista, 29
Inc., is subject to certain public records and 30
meetings requirements; providing for the board of 31
directors of Prospect Del Vista, Inc.; providing for 32
appointments, terms, and the filling of vacancies of 33
board members; subject ing the board members to certain 34
requirements and postemployment restrictions; 35
providing criminal penalties; requiring board members 36
to file certain financial disclosures; authorizing 37
board members to receive reimbursement for certain 38
travel and per diem e xpenses; providing that each 39
board member is responsible for certain duties; 40
providing for removal of a board member in certain 41
circumstances; requiring the board of directors to 42
meet at least quarterly for certain purposes; 43
requiring the Secretary of Comm erce and the Secretary 44
of Environmental Protection, or their designees, to be 45
available for a certain purpose; authorizing Prospect 46
Del Vista, Inc., to hire or contract for certain 47
staff; requiring Prospect Del Vista, Inc., to retain 48
certain staff; providi ng requirements for such staff; 49
creating s. 288.406, F.S.; providing powers of the 50
HB 1125 2024
CODING: Words stricken are deletions; words underlined are additions.
hb1125-00
Page 3 of 20
F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
Prospect Del Vista, Inc., board of directors; creating 51
s. 288.407, F.S.; providing the duties of Prospect Del 52
Vista, Inc.; creating s. 288.408, F.S.; authorizing 53
Prospect Del Vista, Inc., to make certain awards to 54
certain projects or programs; authorizing awards for 55
certain purposes; requiring Prospect Del Vista, Inc., 56
to establish an application procedure and scoring 57
process that gives priority to projects and programs 58
that meet certain requirements; authorizing Prospect 59
Del Vista, Inc., to make awards in certain manner; 60
requiring certain contracts to include certain 61
provisions; creating s. 288.409, F.S.; requiring the 62
scope of certain audits to include funds awarded by 63
Prospect Del Vista, Inc.; requiring the Auditor 64
General to conduct a certain operational audit 65
biennially; providing the scope of review of such 66
audits; providing an effective date. 67
68
Be It Enacted by the Legislature of the State of Florida: 69
70
Section 1. Section 288.401, Florida Statutes, is created 71
to read: 72
288.401 Short title. —Sections 288.401-288.409 may be cited 73
as the "Prospect Del Vista Infrastructure and Investment Act." 74
Section 2. Section 288.402, Florida Statutes, is created 75
HB 1125 2024
CODING: Words stricken are deletions; words underlined are additions.
hb1125-00
Page 4 of 20
F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
to read: 76
288.402 Prospect Del Vista, Inc.; legislative intent. —The 77
Legislature recognizes that supporting counties affected by 78
increased density because of a concentration of licensed pari -79
mutuel facilities to ensure goals for economic improvement and 80
variation are achieved is in the best interest of the citizens 81
of the state. The Legislature intends to provide a long -term 82
source of funding for efforts of economic improvement and 83
augmentation in gaming concentrated counties. The Legislature 84
finds that it is important to help businesses, individuals, and 85
local governments in counties affected by increased density 86
because of a concentration of licensed gaming facilities. 87
Section 3. Section 288.403, Florida Statutes, is created 88
to read: 89
288.403 Definitions. —As used in this act, the term: 90
(1) "Awardee" means a person, organization, or local 91
government granted an award of funds from the investment fund 92
for a project or program. 93
(2) "Earnings" means all the income generated by 94
investments and interest. 95
(3) "Gaming concentrated county" means any county with 96
five or more operating Florida licensed pari -mutuel 97
permitholders. 98
(4) "Investment fund" means a trust account established by 99
Prospect Del Vista, Inc., for the benefit of gaming concentrated 100
HB 1125 2024
CODING: Words stricken are deletions; words underlined are additions.
hb1125-00
Page 5 of 20
F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
counties. 101
Section 4. Section 288.404, Florida Statutes, is created 102
to read: 103
288.404 Prospect Del Vista, Inc.; investment fund; 104
creation; investment. — 105
(1) There is created a nonprofit corporation, to be known 106
as Prospect Del Vista, Inc., which shall be registered, 107
incorporated, organized, and operated in compliance with chapter 108
617, and which is not a unit or entity of state government. 109
Prospect Del Vista, Inc., may receive, hold, invest, and 110
administer the investment fund in support of this act. Prospect 111
Del Vista, Inc., is not subject to control, supervision, or 112
direction by the Department of Commerce in any manner, 113
including, but not limited to, personnel, purchasing, 114
transactions involving real or personal property, and budgetary 115
matters. 116
(2) Prospect Del Vista , Inc., must create and administer 117
the investment fund for the benefit of gaming concentrated 118
counties. The principal of the fund shall derive from General 119
Revenue. The amount deposited into the fund from General Revenue 120
shall equal the difference in slot machine revenue tax paid to 121
the Florida Gaming Control Commission collected from all 122
licensed pari-mutuel facilities in the year immediately before 123
and each subsequent year after a county becomes a gaming 124
concentrated county. 125
HB 1125 2024
CODING: Words stricken are deletions; words underlined are additions.
hb1125-00
Page 6 of 20
F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
(3) The investment fund must be maintained as a long -term 126
and stable source of revenue for gaming concentrated counties. 127
Prospect Del Vista, Inc., shall establish a trust account at a 128
federally insured financial institution to hold funds and make 129
deposits and payments. Earnings gener ated by investments and 130
interest of the fund, plus the amount of principal available 131
each year, must be available to make awards pursuant to this act 132
and pay administrative costs. Earnings must be accounted for 133
separately from principal funds set forth in subsection (2). 134
Administrative costs are limited to 2.25 percent of the earnings 135
in a calendar year. Administrative costs include payment of 136
investment fees, travel and per diem expenses of board members, 137
audits, salary or other costs for employed or contr acted staff, 138
including required staff under s. 288.405(9), and other 139
allowable costs. If the investment fund is dissolved, any funds 140
remaining shall revert to the State Treasury. 141
(4) Prospect Del Vista, Inc., shall invest and reinvest 142
the principal of the investment fund in accordance with s. 143
617.2104 in a manner that does not subject the funds to state or 144
federal taxes and is consistent with an investment policy 145
statement adopted by the corporation. 146
(a) The board of directors shall formulate an investm ent 147
policy governing the investment of the principal of the 148
investment fund. The policy shall pertain to the types, kinds, 149
or nature of investment of any of the funds, and any 150
HB 1125 2024
CODING: Words stricken are deletions; words underlined are additions.
hb1125-00
Page 7 of 20
F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
limitations, conditions, or restrictions upon the methods, 151
practices, or procedu res for investment, reinvestments, 152
purchases, sales, or exchange transactions, provided such 153
policies shall not conflict with nor be in derogation of any 154
state constitutional provision or law. The policy shall be 155
formulated with the advice of the financial advisor in 156
consultation with the State Board of Administration. 157
(b) Prospect Del Vista, Inc., must competitively procure 158
one or more money managers, under the advice of the financial 159
advisor in consultation with the State Board of Administration, 160
to invest the principal of the investment fund. The applicant 161
manager or managers may not include representatives from the 162
financial institution housing the trust account for the 163
investment fund. The applicant manager or managers must present 164
a plan to invest the investment fund to maximize earnings while 165
prioritizing the preservation of investment fund principal. Any 166
agreement with a money manager must be reviewed by Prospect Del 167
Vista, Inc., for continuance at least every 5 years. Plans must 168
include investment in technology and growth businesses domiciled 169
in, or that will be domiciled in, this state or businesses for 170
which their principal addresses are in this state. 171
(c) Costs and fees for investment services must be 172
deducted from the earnings as administrativ e costs. Fees for 173
investment services may not be greater than 150 basis points. 174
(d) Annually, Prospect Del Vista, Inc., shall cause an 175
HB 1125 2024
CODING: Words stricken are deletions; words underlined are additions.
hb1125-00
Page 8 of 20
F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
audit to be conducted of the investment of the Investment Fund 176
by the independent certified public accountant retained in s. 177
288.405. The expense of such audit shall be paid from earnings 178
for administrative purposes. 179
(5) Prospect Del Vista, Inc., shall biannually on June 30 180
and December 30 provide a report to the Governor, the President 181
of the Senate, and the Speaker of the House of Representatives 182
on the financial status of the investment fund and its 183
investments, the established priorities, the project and program 184
selection process, including a list of all submitted projects 185
and reasons for approval or denial, and the s tatus of all 186
approved awards. 187
(6) The Auditor General shall annually conduct an audit of 188
the investment fund and Prospect Del Vista, Inc. Prospect Del 189
Vista, Inc., shall provide to the Auditor General any detail or 190
supplemental data required. 191
Section 5. Section 288.405, Florida Statutes, is created 192
to read: 193
288.405 Prospect Del Vista, Inc., organization; board of 194
directors.— 195
(1) Prospect Del Vista, Inc., is subject to the provisions 196
of chapter 119 relating to public records and of chapter 286 197
relating to public meetings and records. 198
(2) Prospect Del Vista, Inc., shall be governed by a five -199
member board of directors. The President of the Senate and the 200
HB 1125 2024
CODING: Words stricken are deletions; words underlined are additions.
hb1125-00
Page 9 of 20
F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
Speaker of the House of Representatives shall each appoint two 201
members from the private sector. The Governor shall appoint one 202
member from the private sector. The board of directors shall 203
annually elect a chairperson from among the board's members. The 204
chairperson may be removed by a majority vote of the members. 205
His or her successor shall be elected to serve for the balance 206
of the removed chairperson's term. The chairperson is 207
responsible to ensure records are kept of the proceedings of the 208
board of directors and is the custodian of all books, documents, 209
and papers filed with the board; the minutes o f meetings of the 210
board; and the official seal of Prospect Del Vista, Inc. 211
(3) Each member of the board of directors shall serve for 212
a term of 4 years, except that initially one of the appointments 213
of the President of the Senate and of the Speaker of the House 214
of Representatives shall serve a term of 2 years to achieve 215
staggered terms among the members of the board. A member is not 216
eligible for reappointment to the board, except that any member 217
appointed to a term of 2 years or less may be reappointed for an 218
additional term of 4 years. The initial appointments to the 219
board must be made by November 15, 2024. A vacancy on the board 220
of directors shall be filled by the officer who originally 221
appointed the member. A vacancy that occurs before the scheduled 222
expiration of the term of the member shall be filled for the 223
remainder of the unexpired term. 224
(4) The Legislature determines that it is in the public 225
HB 1125 2024
CODING: Words stricken are deletions; words underlined are additions.
hb1125-00
Page 10 of 20
F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
interest for the members of the board of directors to be subject 226
to the requirements of ss. 112.3135, 112.31 43, and 112.313, 227
notwithstanding the fact that the board members are not public 228
officers or employees. For purposes of those sections, the board 229
members shall be considered to be public officers or employees. 230
In addition to the postemployment restrictions of s. 112.313(9), 231
a person appointed to the board of directors must agree to 232
refrain from having any direct interest in any contract, 233
franchise, privilege, project, program, or other benefit arising 234
from an award by Prospect Del Vista, Inc., during the ter m of 235
his or her appointment and for 2 years after the termination of 236
such appointment. It is a misdemeanor of the first degree, 237
punishable as provided in s. 775.082 or s. 775.083, for a person 238
to accept appointment to the board of directors in violation of 239
this subsection or to accept a direct interest in any contract, 240
franchise, privilege, project, program, or other benefit granted 241
by Prospect Del Vista, Inc., to an awardee within 2 years after 242
the termination of his or her service on the board. Further, 243
each member of the board of directors who is not otherwise 244
required to file financial disclosure under s. 8, Art. II of the 245
State Constitution or s. 112.3144 shall file disclosure of 246
financial interests under s. 112.3145. 247
(5) Each member of the board of d irectors shall serve 248
without compensation, but may be reimbursed for travel and per 249
diem expenses as provided in s. 112.061 incurred in the 250
HB 1125 2024
CODING: Words stricken are deletions; words underlined are additions.
hb1125-00
Page 11 of 20
F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
performance of his or her duties. 251
(6) Each member of the board of directors is accountable 252
for the proper performa nce of the duties of office, and each 253
member owes a fiduciary duty to the people of the state to 254
ensure that awards provided are disbursed and used, and 255
investments are made, as prescribed by law and contract. An 256
appointed member of the board of directors may be removed by the 257
officer that appointed the member for malfeasance, misfeasance, 258
neglect of duty, incompetence, permanent inability to perform 259
official duties, unexcused absence from three consecutive 260
meetings of the board, arrest or indictment for a crime that is 261
a felony or a misdemeanor involving theft or a crime of 262
dishonesty, or pleading nolo contendere to, or being found 263
guilty of, any crime. 264
(7) The board of directors shall meet at least quarterly, 265
upon the call of the chairperson or at the re quest of a majority 266
of the membership, to review the investment fund, establish and 267
review priorities for economic improvement and augmentation in 268
gaming concentrated counties, and determine use of the earnings 269
available. A majority of the members of the b oard of directors 270
constitutes a quorum. Members may not vote by proxy. 271
(8) The Secretary of Commerce, or his or her designee, and 272
the Secretary of Environmental Protection, or his or her 273
designee, must be available to consult with the board of 274
directors and may be requested to attend meetings of the board 275
HB 1125 2024
CODING: Words stricken are deletions; words underlined are additions.
hb1125-00
Page 12 of 20
F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
of directors. These individuals may not vote on any matter 276
before the board. 277
(9)(a) Prospect Del Vista, Inc., may hire or contract for 278
all staff necessary to the proper execution of its powers and 279
duties. The corporation must retain: 280
1. An independent certified public accountant licensed in 281
this state pursuant to chapter 473 to inspect the records of and 282
to audit the expenditure of the earnings and available principal 283
disbursed by Prospect Del Vista, Inc. 284
2. An independent financial advisor to assist Prospect Del 285
Vista, Inc., in the development and implementation of a 286
strategic plan consistent with the requirements of this act. 287
3. An economic advisor to assist in the award process, 288
including the development of priorities, allocation decisions, 289
and the application and process; assist the board in determining 290
eligibility of award applications and the evaluation and scoring 291
of applications; and assist in the development of award 292
documentation. 293
4. A legal advisor with expertise in not -for-profit 294
investing and contracting and who is a member of The Florida Bar 295
to assist with contracting and carrying out the intent of this 296
act. 297
(b) Prospect Del Vista, Inc., shall require all employees 298
of the corporation to comply with the code of ethics for public 299
employees under part III of chapter 112. Staff retained under 300
HB 1125 2024
CODING: Words stricken are deletions; words underlined are additions.
hb1125-00
Page 13 of 20
F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
paragraph (a) must agree to refrain from having any direct 301
interest in any contract, franchise, privilege, project, 302
program, or other benefit arisi ng from an award by Prospect Del 303
Vista, Inc., during the term of his or her appointment and for 2 304
years after the termination of such appointment. 305
(c) Staff retained under paragraph (a) must be available 306
to consult with the board of directors and must attend meetings 307
of the board of directors. These individuals may not vote on any 308
matter before the board. 309
Section 6. Section 288.406, Florida Statutes, is created 310
to read: 311
288.406 Prospect Del Vista, In c., board of directors; 312
powers.—In addition to the powers and duties prescribed in 313
chapter 617 and the articles and bylaws adopted in compliance 314
with that chapter, the Prospect Del Vista, Inc., board of 315
directors may: 316
(1) Make and enter into contracts and other instruments 317
necessary or convenient for the exercise of its powers and 318
functions. 319
(2) Make expenditures including any necessary 320
administrative expenditure from earnings consistent with its 321
powers. 322
(3) Adopt, use, and alter a common corporate seal. 323
Notwithstanding any provision of chapter 617 to the contrary, 324
this seal is not required to contain the words "corporation not 325
HB 1125 2024
CODING: Words stricken are deletions; words underlined are additions.
hb1125-00
Page 14 of 20
F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
for profit." 326
(4) Adopt, amend, and repeal bylaws not inconsistent with 327
the powers granted to the corporation or the articles of 328
incorporation, for the administration of the activities of 329
Prospect Del Vista, Inc., and the exercise of its corporate 330
powers. 331
(5) Notwithstanding s. 15.03, use the state seal when 332
appropriate for standard corpora te identity applications. Use of 333
the state seal is not intended to replace use of a corporate 334
seal as provided in subsection (3). 335
336
The credit of the State of Florida may not, under any 337
circumstances, be pledged on behalf of Prospect Del Vista, Inc. 338
Section 7. Section 288.407, Florida Statutes, is created 339
to read: 340
288.407 Prospect Del Vista, Inc.; duties. —Prospect Del 341
Vista, Inc., has the following duties: 342
(1) Manage responsibly and prudently all funds received, 343
and ensure that the use of such funds is in accordance with 344
applicable laws, bylaws, and contractual requirements. 345
(2) Administer the program created under this act. 346
(3) Monitor, review, and annually evaluate awardees and 347
their projects or programs to determine whether an award should 348
be continued, terminated, reduced, or increased. 349
(4) Operate in a transparent manner by maintaining a 350
HB 1125 2024
CODING: Words stricken are deletions; words underlined are additions.
hb1125-00
Page 15 of 20
F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
website that provides public access to information, notice of 351
meetings, awards, and the status of projects and programs. 352
Section 8. Section 288.408, Flo rida Statutes, is created 353
to read: 354
288.408 Prospect Del Vista, Inc., awards. — 355
(1) Prospect Del Vista, Inc., shall make awards from 356
available earnings and principal derived under s. 288.404(2) to 357
projects or programs that meet the priorities for economi c 358
improvement and augmentation in gaming concentrated counties. 359
Awards may be provided for any of the following: 360
(a) Ad valorem tax reduction within gaming concentrated 361
counties. 362
(b) Payment of impact fees adopted pursuant to s. 363
163.31801 and imposed w ithin gaming concentrated counties. 364
(c) Administrative funding for economic development 365
organizations located within gaming concentrated counties. 366
(d) Local match requirements of ss. 288.0655 and 288.0659 367
for projects in gaming concentrated counties. 368
(e) Economic development projects in gaming concentrated 369
counties. 370
(f) Infrastructure projects that are shown to enhance 371
economic improvement and augmentation in gaming concentrated 372
counties. 373
(g) Grants to local governments in gaming concentrated 374
counties to establish and maintain equipment and trained 375
HB 1125 2024
CODING: Words stricken are deletions; words underlined are additions.
hb1125-00
Page 16 of 20
F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
personnel for local action plans of response to respond to 376
disasters, such as plans created for the Coastal Impacts 377
Assistance Program. 378
(h) Grants to support programs of excellence that prepare 379
students for future occupations and careers at K -20 institutions 380
that have home campuses in gaming concentrated counties. 381
Eligible programs include those that increase students' 382
technology skills and knowledge; encourage industry 383
certifications; provide rigorous, alternative pathways for 384
students to meet high school graduation requirements; strengthen 385
career readiness initiatives; fund high -demand programs of 386
emphasis at the bachelor's and master's level designated by the 387
Board of Governors; and, similar to or the same as talent 388
retention programs created by the Chancellor of the State 389
University System, Chancellor of the Florida College System, and 390
the Commissioner of Education, encourage students with interest 391
or aptitude for science, technology, engineering, mat hematics, 392
and medical disciplines to pursue postsecondary education at a 393
state university within gaming concentrated counties. 394
(i) Grants to the tourism entity created under s. 288.1226 395
for the purpose of advertising and promoting tourism, Fresh From 396
Florida, or related content on behalf of gaming concentrated 397
counties. 398
(2) Prospect Del Vista, Inc., shall establish an 399
application procedure for awards and a scoring process for the 400
HB 1125 2024
CODING: Words stricken are deletions; words underlined are additions.
hb1125-00
Page 17 of 20
F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
selection of projects and programs that have the potential to 401
generate increased economic activity in gaming concentrated 402
counties, giving priority to projects and programs that: 403
(a) Generate maximum estimated economic benefits, based on 404
tools and models not generally employed by economic input -output 405
analyses, including cost -benefit, return-on-investment, or 406
dynamic scoring techniques to determine how the long -term 407
economic growth potential of the gaming concentrated counties 408
may be enhanced by the investment. 409
(b) Increase household income in the gaming concentrated 410
counties. 411
(c) Expand high growth industries or establish new high 412
growth industries in gaming concentrated counties. 413
1. Industries that are supported must have strong growth 414
potential in gaming concentrated counties. 415
2. An industry's growth potential is defined based on a 416
detailed review of the current industry trends nationally and 417
the necessary supporting asset base for that industry in gaming 418
concentrated counties. 419
(d) Leverage or further enhance key regional ass ets, 420
including educational institutions, research facilities, and 421
military bases. 422
(e) Partner with local governments to provide funds, 423
infrastructure, land, or other assistance for projects. 424
(f) Have investment commitments from private equity or 425
HB 1125 2024
CODING: Words stricken are deletions; words underlined are additions.
hb1125-00
Page 18 of 20
F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
private venture capital funds. 426
(g) Provide or encourage seed stage investments in start -427
up companies. 428
(h) Provide advice and technical assistance to companies 429
on restructuring existing management, operations, or production 430
to attract advantageous business op portunities. 431
(i) Benefit the environment in addition to the economy. 432
(j) Provide outcome measures for programs of excellence 433
support, including terms of intent and metrics. 434
(k) Partner with K-20 educational institutions or school 435
districts located wi thin gaming concentrated counties. 436
(l) Partner with convention and visitor bureaus, tourist 437
development councils, or chambers of commerce located within 438
gaming concentrated counties. 439
(3) Prospect Del Vista, Inc., may make awards as 440
applications are rec eived or may establish application periods 441
for selection. Awards may not be used to finance 100 percent of 442
any project or program. Prospect Del Vista, Inc., may require a 443
one-to-one private-sector match or higher for an award, if 444
applicable and deemed prud ent by the board of directors. An 445
awardee may not receive all of the earnings or available 446
principal in any given year. 447
(4) A contract executed by Prospect Del Vista, Inc., with 448
an awardee must include provisions requiring a performance 449
report on the contracted activities, must account for the proper 450
HB 1125 2024
CODING: Words stricken are deletions; words underlined are additions.
hb1125-00
Page 19 of 20
F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
use of funds provided under the contract, and must include 451
provisions for recovery of awards in the event the award was 452
based upon fraudulent information or the awardee does not meet 453
the performance requireme nts of the award. Awardees must 454
regularly report to Prospect Del Vista, Inc., the status of the 455
project or program on a schedule determined by the corporation. 456
Section 9. Section 288.409, Florida Statutes, is created 457
to read: 458
288.409 Gaming concentra ted county audits.— 459
(1) The scope of a financial audit conducted pursuant to 460
s. 218.39 shall include any funds awarded under s. 288.408. The 461
scope of review includes, but is not limited to, compliance with 462
state laws related to the receipt and expenditure of such funds. 463
(2) Every 2 years, the Auditor General shall conduct an 464
operational audit as defined in s. 11.45 of a local government 465
entity's funds awarded under s. 288.408 to evaluate the local 466
government entity's performance in administeri ng laws, policies, 467
and procedures governing the expenditure of funds awarded under 468
s. 288.408 in an efficient and effective manner. The scope of 469
review includes, but is not limited to, evaluating internal 470
controls, internal audit functions, reporting and p erformance 471
requirements required for use of the funds, and compliance with 472
state law. The audit shall include any funds the local 473
government entity receives or expends which were awarded under 474
s. 288.408. 475
HB 1125 2024
CODING: Words stricken are deletions; words underlined are additions.
hb1125-00
Page 20 of 20
F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
Section 10. This act shall take effect upon becoming a 476
law. 477