MS HB1725

Authorizes the City of Jackson to establish special local improvement assessment districts and levy up to 6 mills in annual special assessments on taxable real property within those districts.

Requires either a resolution and petition signed by at least 60% of property owners (Section 2(1)) or a homeowners association petition with 60% support followed by voter referendum (Section 2(2)) to create a district.

Allows districts to fund local improvements including parks, sidewalks, streets, security enhancements, private patrol services, and property acquisition/rehabilitation through assessment proceeds.

Authorizes the municipality or delegated urban renewal/redevelopment agencies to issue bonds payable solely from special assessments without being subject to municipal debt limitations or requiring voter approval.

Expires July 1, 2026, and requires homeowners associations to maintain separate accounting of assessment funds, undergo annual audits by independent certified public accountants, and file audit reports with the municipality clerk.