SB 420: Authorizes the creation of business improvement districts. (BDR 22-372)

Summary

AN ACT relating to business improvement districts; authorizing a person to submit a petition to create a business improvement district to the board of county commissioners of certain counties; prescribing certain requirements for a district management plan; requiring the board of county commissioners to hold a public hearing before creating a district; prescribing certain procedures for the renewal of a district; setting forth certain requirements for an owners' association to administer or implement the improvements or activities of a district; prescribing certain requirements for assessments; authorizing the board of county commissioners to enter into an agreement with the Department of Taxation; requiring the board of county commissioners to annually submit to the Legislature a report concerning the district; authorizing the board of county commissioners to issue bonds for the benefit of a district; requiring the board of county commissioners to have an independent auditor review certain claims; prescribing certain requirements to modify a district; authorizing a board of county commissioners to dissolve a district under certain circumstances; and providing other matters properly relating thereto.

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Jun 3, 2025

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