The proposed bill would amend current statutes by introducing new definitions and regulations regarding the use of public resources by public entities. Specifically, it would establish that a public entity cannot spend, loan, or allow the use of public resources for private parties unless the expenditure serves a public purpose, is supported by consideration, and is under the continuing control of the public entity. The bill also defines key terms such as "consideration," "control," "public entity," "public purpose," and "public resources," which would clarify the conditions under which public funds can be utilized.

Additionally, the bill would empower the Attorney General or any taxpayer to challenge expenditures that violate these provisions in a court of general jurisdiction. It specifies that a plaintiff must prove by a preponderance of evidence that the challenged action does not advance a public purpose, lacks consideration, or fails to maintain control over the resources. The legislation would be titled the "Taxpayer Protection Act" and would replace the existing chapter heading from "PUBLIC PROGRAMS" to "PUBLIC RESOURCES," thereby emphasizing the focus on the responsible management of public funds.