The bill CS/HB 4061 establishes the "Land Reserve Stewardship District" as an independent special district in Hillsborough County, Florida, aimed at promoting responsible land development and managing community infrastructure. It outlines the district's governance structure, which includes a board of supervisors elected by landowners, and specifies the district's powers, such as imposing special assessments, issuing bonds, and managing public facilities. The bill emphasizes the need for compliance with local regulations and the county's comprehensive plan, while also ensuring transparency and accountability in the district's operations.

Key provisions of the bill include detailed legal descriptions of specific land parcels within the district, the requirement for public disclosure regarding potential taxes or assessments on property sales, and the establishment of financial mechanisms for funding infrastructure projects. The bill also clarifies the district's authority to manage various public services, including water supply and waste management, and outlines the procedures for collecting special assessments. Overall, the legislation aims to facilitate sustainable development while ensuring that the district operates within a clear legal framework and maintains fiscal responsibility to the residents of Hillsborough County.