HB313 Summary

• Reduces the property owner signature requirement for creating a self-help business improvement district from two-thirds to one-half of total fair market value of real property in the proposed district.

• Changes the objection threshold for district establishment from one-third to one-half of property parcels (by number) to prevent creation, with an effective date 60 days after ordinance adoption.

• Lowers the signature requirement for amending or expanding districts from two-thirds to one-half of the fair market value of affected property.

• Increases the petition threshold for triggering a hearing on district continuation or termination from 25 percent to 50 percent of assessments paid, and raises the objection threshold from one-third to one-half of property owners or parcels.

• Becomes effective immediately upon passage and approval; does not affect districts created before the effective date but subjects existing districts to the amended provisions.