IN HB1102

Reduces the assessed valuation threshold required for establishing an economic improvement district from at least 66 2/3% to more than 50% of the assessed valuation in the proposed district.

Maintains the requirement that a petition must be signed by a majority of real property owners within the proposed district.

Exempts property owners and assessed valuations of properties exempt from district assessments from being counted toward petition signature and valuation requirements.

Effective July 1, 2010.