Bill > H4756

This bill proposes several improvements to Business Improvement Districts (BIDs), which are special areas where property owners collectively fund additional services and improvements for their district. The bill expands the definition of allowable improvements to include district management activities and operations, clarifies the definition of a "participating property owner", and provides more flexibility in fee structures. Specifically, the bill allows BIDs to establish criteria for fee exemptions, create a hardship waiver process, and set maximum annual fee limits. It also introduces a mandatory renewal process where BIDs must hold a meeting every five years to review their performance and vote on continuing the district, with the option to extend renewal terms up to 10 years. Additionally, the bill permits BIDs to propose a "phase-in" period of up to three years where assessment fees gradually increase, and requires BID corporations to comply with public charity reporting requirements and make those reports publicly accessible. These changes aim to provide more transparency, flexibility, and sustainability for Business Improvement Districts.

Committee on Community Development and Small Business (Joint)

https://malegislature.gov/Bills/194/H4756