Bill > H144

This bill establishes and governs Community Benefit Districts (CBDs), which are defined as contiguous geographic areas with clear boundaries. A CBD is managed by an independent non-profit entity, the CBD management entity, overseen by a Board of Directors composed of property owners and other local stakeholders. These districts are designed to provide "supplemental services" – programs and improvements beyond standard government services – to enhance economic development, public spaces, and community amenities. The process for creating a CBD begins with a petition from property owners, outlining a Management Plan that details the district's vision, services, budget, and fee structure. Property owners within the CBD will pay "fees," which are payments for these specified services and improvements, with the fee structure determined by factors like property type, assessed valuation, or square footage, and capped at a percentage of the total assessed property value. The bill also details procedures for amending CBD boundaries, dissolving a CBD, and collecting and disbursing fees, ensuring that any liabilities incurred by the CBD are not the responsibility of the municipality but are covered by CBD revenue or fees.