HB1384 Summary

• Amends the Property Tax Code to establish governance and oversight requirements for special service area (SSA) commissions in municipalities with 1,000,000 or more inhabitants.

• Prohibits SSA commission members from being executives, owners, or board members of selected service provider agencies, and prohibits businesses owned by commission members or municipal employees from providing subcontracted services to SSA service providers.

• Requires at least one SSA commission membership position to be reserved for homestead property owners in SSAs containing homestead properties.

• Restricts SSA commissions from establishing loans or lines of credit; allows service provider agencies to establish financing but prohibits securing it with future SSA tax revenue.

• Requires annual audits of SSA funds submitted to municipal authorities, limits use of excess end-of-year funds to 25% of prior year's budget for non-capital expenses, caps administrative fees at 30% of annual tax levy, and allows municipal disconnection of erroneously included properties from transit facility improvement area SSAs without standard procedures.