The Florida Senate

288.1237  Local organizing committee; responsibilities.--

(1)  The local organizing committee may not engage in any conduct that reflects unfavorably upon this state, the candidate city, or the Olympic movement, or that is contrary to law or to the rules and regulations of the United States Olympic Committee and the International Olympic Committee.

(2)  By April 15 annually, the local organizing committee shall certify to the direct-support organization authorized under s. 288.1229 that the local organizing committee:

(a)  Is a nonprofit corporation, duly organized and validly existing for the purpose of pursuing a candidate city's bid to host the games;

(b)  Is qualified as a tax-exempt organization under s. 501(c)(3) of the Internal Revenue Code, contributions to which are deductible by contributors; and

(c)  Has, and will continue to maintain, a 20-percent representation of athletes on its board of directors and executive committee, as required by the organizational documents of the committee.

(3)  The local organizing committee shall maintain, in accordance with generally accepted accounting principles, complete and accurate books and records of all receipts, expenditures, assets, and liabilities of the committee.

(4)  The local organizing committee shall provide to the direct-support organization authorized under s. 288.1229, in the form and manner in which they are provided to the United States Olympic Committee, annual audited financial statements prepared in accordance with generally accepted accounting principles consistently applied and certified by an independent accounting firm.

History.--s. 7, ch. 2000-148.