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MS SB2965
Bill
AI Summary
- Authorizes the City of Jackson to create special local improvement assessment districts and levy up to 6 mills annually on taxable real property within those districts
- Districts can be established through two methods: a resolution by governing authorities with a petition signed by 60% of property owners, or through a homeowners association ballot process requiring 60% approval
- Assessment proceeds fund local improvements including parks, sidewalks, streets, lighting, landscaping, security cameras, private patrol services, and property acquisition/rehabilitation
- Authorizes the municipality to issue bonds backed solely by the special assessments (not general city funds), with bonds excluded from the city's debt limitations and exempt from state taxation
- Districts must be dissolved once all activities are completed and debts are satisfied; boundaries or assessment rates can only be modified with 70% property owner approval and a public hearing
Legislative Description
City of Jackson; authorize to create special local improvement taxing districts.
Last Action
Died In Committee
4/20/2016
Committee Referrals
Local and Private4/1/2016
Full Bill Text
No bill text available