House Bill 4073 seeks to transform the Manatee County Port Authority from a dependent special district to an independent special district, effective October 1, 2026. This reclassification is designed to improve the authority's operational autonomy and clarify its powers, functions, and duties. Key changes include the establishment of a five-member governing board, with four members appointed by the Governor and one from the Board of County Commissioners of Manatee County. The bill outlines the appointment process, terms of service, and responsibilities of board members, while also granting the Port Authority various powers such as property acquisition, infrastructure construction, and regulation of waterways to promote economic development.

The bill introduces new provisions regarding the Port Authority's financial operations, including the ability to collect rates and fees, enter contracts, and solicit loans or grants. It specifies that all property owned by the Port Authority will be exempt from state and local taxes and judicial liens. Additionally, the bill allows for greater flexibility in issuing bonds for financing port facilities, ensuring these bonds are negotiable instruments. It also establishes a direct-support organization to promote the maritime industry and mandates transparency through audits and budget approvals. Overall, HB 4073 aims to enhance the operational efficiency and financial capabilities of the Port Authority while protecting the rights of stakeholders and ensuring compliance with state regulations.