The bill aims to transfer the property interest of the historic Coconut Grove Playhouse in Miami-Dade County from Miami-Dade County to the Town of Bay Harbor Islands. This transfer is intended to ensure the preservation and protection of the playhouse, which is recognized as a significant cultural landmark in Florida. The bill outlines the responsibilities of the Town of Bay Harbor Islands upon receiving the property, including consulting with relevant state departments on preservation alternatives and using public funds to comply with environmental directives and maintain the playhouse's historic integrity.

Effective July 1, 2026, the bill emphasizes the need for accountability in the stewardship of the Coconut Grove Playhouse, as Miami-Dade County has been criticized for failing to uphold preservation obligations and allowing the property to deteriorate. The Town of Bay Harbor Islands is expected to honor the public trust and adhere to historic preservation covenants, ensuring that the playhouse remains a valuable cultural asset for the community.