HB 1182, Business Improvement Districts, was voted favorable with amendments in the House Environmental Matters Committee and passed on second reading today on the House floor. As introduced, this bill would have required local jurisdictions to adopt a resolution if the procedural requirements of the BID application were met. MACo also had concerns with respect to property tax caps, bonding and taxing authority.
As amended, the bill is authorizing, the county imposes the tax, taxes are not considered against a county or municipal tax cap, and the bonding authority has been struck. In addition, requirements for BID formation have been strengthened and termination procedures have been added to the bill.
– At least 80% of property owners must agree to establish a BID
– Local jurisdictions reviews the effectiveness and can terminate a BID