This bill provides for the financial relief of Max Giannikos, who sustained severe injuries due to the negligence of the City of Clearwater. The bill authorizes the City to appropriate $16,037,182.50, plus interest at a rate of 9.46 percent annually, as compensation for Giannikos's injuries and damages. The preamble of the bill asserts that the facts leading to this compensation are true, and it outlines the circumstances of the incident, including the malfunctioning pedestrian signals that contributed to Giannikos being struck by a vehicle.

Additionally, the bill stipulates that the total amount paid by the City of Clearwater, along with any amounts awarded under this act, will serve as the sole compensation for all present and future claims related to the incident. It also sets a limitation on attorney fees, stating that they may not exceed 25 percent of the total amount awarded. The act is set to take effect upon becoming law.