MS HB782

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, requiring approval by resolution and petition signed by owners of at least 60% of taxable property in the proposed district.

Permits two methods of district creation: (1) through municipal resolution and public hearing, or (2) through homeowners' association petition and ballot referendum requiring 60% property owner approval.

Allows districts to use assessment proceeds for local improvements including parks, sidewalks, streets, lighting, security enhancements, private patrol services, and property acquisition and rehabilitation.

Authorizes municipalities and urban renewal agencies to issue bonds payable solely from special assessments without election, with bonds excluded from municipal debt limitations and exempt from Mississippi taxation.

Requires homeowners' associations managing districts created under the alternative procedure to maintain separate accounts, file annual audits with the municipality, and submit improvement plans specifying proposed expenditures; amends Section 21-33-303 to exclude such bonds from debt limitations.