MS HB1157

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, requiring approval by owners of at least 60% of property in the proposed district.

Allows districts to be created through either a traditional public hearing process or through homeowners' association petition and ballot referendum procedures for districts within homeowners' association boundaries.

Permits use of assessment proceeds to fund local improvements including parks, sidewalks, streets, security enhancements, private patrol services, and related administrative costs; requires homeowners' associations to maintain separate accounting and submit annual audits.

Authorizes the municipality and delegated urban renewal or redevelopment agencies to issue bonds payable solely from the special assessments without limitation on amount or inclusion in municipal debt limits, and excludes bonds from state taxation.

Sunsets the act on July 1, 2028; requires dissolution of districts when all activities are completed and debts are satisfied.