The bill CS/HB 4043 establishes the Waterlin Stewardship District in Osceola County, creating a structured governance framework and operational guidelines for the district. It grants the district powers to manage and finance community infrastructure and services, including the authority to issue bonds and levy taxes or assessments. The bill emphasizes compliance with existing laws for independent special districts and outlines the transition of control from landowners to resident electors, ensuring that the district operates within the comprehensive plan of Osceola County. Notably, the district will not have comprehensive planning or zoning powers, maintaining local governance over development decisions.

Key provisions include the establishment of a governing board elected by landowners, with a gradual transition to a board composed entirely of members elected by qualified electors as the population grows. The bill also introduces new provisions for the district's operational capabilities, allowing it to provide various services such as water management, waste collection, and outdoor recreational facilities. It outlines the financial obligations of the district, including the authority to levy special assessments and issue bonds, while ensuring transparency and accountability in its operations. The legislation aims to enhance the district's ability to serve the community effectively while adhering to state laws and regulations.