The bill amends several sections of the Florida Statutes to update terminology and improve the structure of state financial accounting systems. It replaces references to the "Florida Accounting Information Resource Subsystem" with "Financial Management Subsystem" in sections such as s. 17.11, s. 215.93, and s. 215.94. Additionally, the Chief Financial Officer is mandated to report disbursements to small businesses and minority business enterprises, and agencies are required to pay interest on certain appropriations under specified conditions. The bill also eliminates the Department of Financial Services' authority to make semimonthly salary payments and clarifies that requests for records should be directed to the appropriate state entity.

Moreover, the bill modifies the creation of the Operating Trust Fund and the Administrative Trust Fund within the Department of Education by removing specific FLAIR numbers associated with these funds. These changes aim to modernize statutory language, enhance clarity in financial management, and streamline financial reporting processes. 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