MS HB968

Extends the authorization period for business improvement districts from five years to ten years before reauthorization is required.

Reduces the vote threshold needed to adopt, implement, reauthorize, or modify boundaries of a business improvement district from a simple majority to 60% of participating eligible property owners.

Requires district reauthorization plans to be developed during the last twelve months of the tenth year and undergo the same approval process as initial establishment.

Districts that fail to receive reauthorization will cease to exist at the conclusion of the current ten-year period or when outstanding indebtedness is satisfied, with reauthorization power resting solely with affected property owners.

Effective date: July 1, 2012.