SB175 Summary

• Reduces the property ownership threshold required to establish a self-help business improvement district from two-thirds to one-half of the total fair market value of real property in the proposed district.

• Changes the threshold for objecting to district establishment from one-third to one-half of all parcels of real property (by number) in the geographical area.

• Lowers the petition threshold for district termination hearings from 25 percent to 50 percent of assessments paid by property owners in the last fiscal year.

• Reduces the objection threshold for terminating an existing district from one-third to one-half of assessments levied or from one-third to one-half of parcels (by number) in the district.

• Makes these changes applicable to any self-help business improvement district created after the effective date, while preserving the status of districts established before enactment.