SB 1499 Summary

• Amends the process for forming community facilities districts by requiring governing bodies to hold a public hearing within 60 days of receiving a completed application and provide written reasons if rejecting the application.

• Allows district boards to be governed either by ex officio members of the governing body plus two additional members designated by the largest private acreage owner, or by five appointed directors.

• Requires sellers of property in districts approved after August 9, 2017 to disclose to prospective purchasers the district's existence, purpose, estimated tax rate, and estimated annual tax amount.

• Caps fees and charges for submitting district formation applications at $15,000 and prohibits reassessment of substantially similar applications denied within one year.

• Specifies director terms and appointment procedures for both governance structures, including provisions for filling vacancies and designating replacement board members upon project completion.