Business Improvement District Law (SB3679)

• Establishes a framework for municipalities with populations exceeding 500,000 to create business improvement districts (BIDs) that levy district charges on property owners to fund activities and improvements including security, sanitation, marketing, and event promotion.

• District charges are assessed based on estimated benefits to properties and cannot exceed 20% of total charges for any single property owner; property owners paying over 50% of district charges may petition for dissolution annually during a 60-day period.

• Business improvement districts are governed by a board of directors (established as a not-for-profit corporation) with voting representation weighted by district charges levied, though no owner may hold more than 20% of total votes; after the initial year, at least 25% of board members must be tenant designees.

• Initial district terms are limited to a maximum of 5 years and may be renewed for up to 10-year terms if property owners are notified; districts may not overlap with other BIDs or special service areas but may overlap with tax increment financing districts.

• Districts must submit annual reports detailing activities provided, costs, administrative expenses, budget comparisons, and performance metrics; remaining revenues upon dissolution or expiration must be refunded to property owners or spent on activities specified in the district plan.