Raised Bill No. 257 Summary

• Requires municipalities with populations over 60,000 and total area not exceeding 30 square miles to establish community investment boards for each neighborhood, effective October 1, 2020.

• Directs community investment boards to identify priorities for municipal revenue sharing grants and select grants for payment in lieu of taxes, with board membership including residents, business owners, religious leaders, and community representatives.

• Allocates municipal revenue sharing grants starting October 1, 2023 as follows: 35% for priorities identified by community investment boards, 35% for legislative body priorities, and 30% for jointly agreed-upon priorities.

• Requires the Office of Policy and Management to establish an internet website by January 1, 2022 for residents and organizations to submit urban problem-solving proposals, with monetary awards available for successful pilot programs.

• Establishes a task force by July 1, 2020 with 12 members appointed by legislative leaders to study state-funded nonprofit programs and compliance requirements, with a report due by January 1, 2021.