MS SB2621

Authorizes municipalities to create special local improvement assessment districts and levy up to 6 mills in annual special assessments on taxable real property within those districts.

Requires 60% approval by property owners (either by petition or referendum ballot) before establishing a district, and 70% approval for modifying district boundaries or increasing assessments.

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

Authorizes municipalities and urban renewal agencies to issue bonds payable solely from special assessment revenues, exempt from municipal debt limitations and state taxation.

Requires homeowners' associations managing districts to keep assessment funds separate, undergo annual independent audits, and file audit reports with the municipality for public review.