HB416 Summary

• Authorizes the City of Florence to establish tourism improvement districts funded by benefit assessments on specified businesses, with district creation requiring a petition signed by 60 percent or more of affected business owners.

• Limits benefit assessments based on gross business revenue to a maximum of 4 percent and allows assessments using fixed dollar amounts per transaction or other reasonable methods approved by the city.

• Requires the city council to hold a public hearing with at least 30 days' notice before establishing or renewing a district, and allows the ordinance to become effective 30 days after passage unless more than 50 percent of business owners file written protests.

• Establishes a business owners' association to administer the district, manage funds, and implement activities including event promotion, tourism marketing, and economic development, with majority control by business owners paying assessments.

• Permits districts to operate for up to 10 years (or longer if bond-financed), be renewed following establishment procedures, and be dissolved by city council ordinance when no outstanding indebtedness remains, with remaining revenues either spent per the district plan or refunded to current business owners.