House Bill 4091 establishes the University Town Center Improvement District as an independent special taxing district in Sarasota and Manatee Counties, aimed at providing essential services and infrastructure to support commercial development and tourism. The bill outlines the governance structure, which includes a Board of Supervisors elected by landowners, and details the district's powers, such as water management, flood control, and infrastructure maintenance. It also specifies the district's total acreage of approximately 1,514.611 acres and includes provisions for the levying of ad valorem and non-ad valorem taxes to fund district operations.

Additionally, the bill introduces new regulations for financial management and governance, including requirements for financial disclosure, meeting notices, and public records maintenance. It mandates an annual meeting of landowners starting in June 2026 for the election of supervisors and the presentation of financial reports. The bill also outlines the process for boundary contractions, requiring a supermajority vote from the Board of Supervisors for approval, and prohibits municipalities from annexing lands within the district. A severability clause is included to ensure the enforceability of remaining provisions if any part of the bill is deemed invalid.