SB 0427 Authorizes Creation of Community Improvement Districts Upon Petition by Owners of Property
Sponsor:Mathewson
LR Number:S1693.02I Fiscal Note:1693-02
Committee:LGED
Last Action:03/04/97 - Voted Do Pass S Local Govt. & Economic Dev. Committee Journal page:
Title:
Effective Date:August 28, 1997
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Current Bill Summary

SB 427 - This act, to be known as the "Community Improvement District Act," authorizes creation of a special benefit district to allow private parties to assess and tax themselves for community improvements and services. A petition to create a community improvements district (CID) must be approved by the governing body of a city and must specify the size, area, and duration of the district, the maximum rate of taxes which may be imposed, and the method and maximum rate of assessment.

Program management is under the direction of a District Board, which, depending upon the petition, may be appointed by the chief elected officer of the city, with the consent of its governing body, or elected by qualified voters of the district. Funds from assessments or taxes may be used for public capital improvements, certain private capital improvements, and special services. The petition may also specify maximum borrowing authority, types of services supported, eligible use of funds, and other limitations.
RUSS HEMBREE