During the 2010 Regular Session, the Florida Legislature enacted Committee Substitute for Senate Bill 1752, relating to economic development, which was later codified as Chapter 2010-147, Laws of Florida.
This act imposes new economic development reporting requirements on county and municipal governments.
The new legislation requires that a contract between a local government (or an economic development agency acting on behalf of the local government) and an economic development agency or organization (EDO) must require the EDO to submit a report to the local government detailing how the funds were spent and the results of the agency's efforts.
The report includes areas of interest such as: amount of funds received from the local government; amount of funds received from private investors; administrative costs of the
Walton County Economic Development Alliance; the number of businesses assisted by the EDO and the type of assistance.