MI SB0257

Establishes definitions and operational framework for business improvement zones (BIZs), including authority to conduct projects such as park maintenance, streetscape improvements, security services, and economic development activities.

Requires BIZ establishment through petition signed by 30% of property owners, governing body approval, and property owner election with weighted voting based on property tax/assessed value (requires 60% approval).

Authorizes BIZs to impose assessments on non-residential property to fund zone activities, with collections handled by municipal treasors; assessments become liens if unpaid within 90 days and accrue 1.5% monthly interest.

Mandates annual financial audits by certified public accountants and annual activity reports to property owners; requires board of 5-15 directors to manage zone operations for 10-year periods.

Allows BIZ renewal for additional 10-year periods through property owner approval and enables merger of multiple zones within same municipality with governing body consent.