BUSINESS IMPROVEMENT DISTRICTS

Creates the Business Improvement District Law. Allows a municipality to create a business improvement district by ordinance. Sets forth requirements for an ordinance creating a business improvement district. Provides that a business improvement district may impose district charges on property owners whose real properties are located within the business improvement district. Provides that the board of directors of a business improvement district shall administer or implement activities and improvements specified in the district plan unless the board contracts with a district management association to do so. Contains provisions relating to district plans; formation of a district; district boundaries; terms and renewal of districts; amendment to district plans; governance of the district; reports of the board of directors of a business improvement district; contesting the validity of a business improvement district, district plan, or district charge; dissolution; and legislative purpose. Provides that the Act applies only to municipalities having a population exceeding 500,000. Defines terms. Effective immediately.