The bill, HB 5201, amends several sections of the Florida Statutes to update terminology and improve the structure of state financial accounting systems. A key change is the replacement of the term "Florida Accounting Information Resource Subsystem" with "Financial Management Subsystem" in multiple sections, including sections 17.11, 215.93, and 215.94. The bill also requires the Chief Financial Officer to report disbursements made to small businesses and minority business enterprises, and mandates that agencies pay interest on certain disbursements from available appropriations under specified conditions.

In addition to these updates, the bill eliminates the Department of Financial Services' authority to make semimonthly salary payments and revises the process for replacing lost or destroyed warrants. It also changes the provisions for public records requests, directing them to the relevant state entity instead of the functional owner of the subsystem. The bill aims to enhance the efficiency and transparency of state financial operations while ensuring compliance with generally accepted accounting principles. The act is set to take effect on July 1, 2025.

Statutes affected:
H 5201 Filed: 17.11, 17.13, 110.113, 215.422, 215.89, 215.985, 216.141, 1001.281, 1001.282