AR SB510

Adds definition of "property owner" as a fee simple owner of a distinct real property parcel with an ad valorem tax parcel number assigned by the county.

Expands suburban improvement district purposes to include security services (patrol and protection of district property and residents) and allows districts to provide services to non-property owners.

Authorizes districts to levy fees and require licenses, and allows districts to create reserve accounts for large or unanticipated future expenses.

Changes district commissioner selection method for districts with fewer than 6,000 lots from self-selection to election by property owners, with a five-member board serving staggered three-year terms.

Establishes new tax collection and enforcement procedures including a 25% penalty on delinquent taxes, court proceedings for collection, public notice requirements, and allows landowner redemption rights within 30 days.