HB 1248: Prosperity States Compact

• Creates an interstate compact establishing "prosperity districts" as special governmental units designed to promote economic prosperity through streamlined regulation and stable policy environments within consenting communities.

• Grants prosperity districts limited powers including police enforcement, infrastructure provision, municipal courts, and bonding authority, while prohibiting taxation, eminent domain, subsidies to private enterprise, and monopolies.

• Requires districts to adopt optimal regulation focused solely on protecting individual rights to life, liberty, and property, with mandatory regulatory impact statements and five-year sunset provisions for all new regulations.

• Establishes formation and expansion through petition requiring 100% landowner consent and recordable revenue covenants to fund district operations, with withdrawal mechanisms allowing landowners to exit districts under specified conditions.

• Creates a Prosperity States Compact Commission (three unpaid commissioners) to coordinate obligations, resolve disputes through alternative dispute resolution, and oversee compliance when at least two states adopt identical compact legislation.