HB323 Summary

• Extends board of directors' terms from three-year to six-year terms, with initial staggered appointments of four, five, and six years respectively.

• Clarifies assessment procedures to apply only to lands specifically benefited by improvements and requires either owner consent or 51% owner and resident approval before assessment can proceed.

• Establishes consistent foreclosure remedies for nonpayment of assessments, including 10-day payment notice, 5% or $50 late fee, and authority to foreclose through court action or direct sale with proper notice.

• Permits districts to obtain temporary loans and issue bonds for construction financing, secured by pledge of assessments and revenues.

• Validates all previously formed improvement districts retroactively and clarifies that amendments have both prospective and retrospective operation.