HB461 Summary

• Establishes procedures for the City of Florence to create, operate, modify, renew, and dissolve tourism improvement districts (TIDs) that levy benefit assessments on businesses to fund tourism-related activities and improvements.

• Requires a written petition signed by 60 percent or more of affected business owners to initiate TID formation, followed by a city council resolution of intention and a public hearing with at least 30 days' notice to business owners.

• Limits benefit assessments to a maximum of 4 percent if based on gross business revenue, with assessments levied for no more than 10 years unless renewed through the same establishment process.

• Requires a business owners' association (either new or existing nonprofit) to administer the TID, manage funds, and submit annual reports and audits to the city council within specified timeframes.

• Allows districts to be dissolved by ordinance if no outstanding debt exists, or upon written petition of 60 percent or more of business owners during annual 30-day dissolution periods beginning two years after establishment.