MS SB3082

Authorizes the City of Jackson to establish special local improvement assessment districts and levy up to 6 mills in annual assessments on taxable real property within those districts, subject to 60% approval by property owners.

Allows districts to be created through either a municipal resolution process with public hearings or a homeowners association petition and ballot referendum process.

Permits use of assessment proceeds for local improvements including parks, sidewalks, streets, security enhancements, landscaping, and property acquisition/rehabilitation.

Authorizes the municipality or delegated urban renewal/redevelopment agencies to issue bonds payable solely from special assessment revenues, which are exempt from the municipality's debt limitation and legal investments for financial institutions.

Requires homeowners associations managing districts to maintain separate accounting records, submit to annual independent audits, and file audit reports with the municipality; districts dissolve once all improvements are completed and debts satisfied.