BUSINESS IMPROVEMENT DISTRICTS - S.B. 484 (S-1): FLOOR ANALYSIS
Senate Bill 484 (Substitute S-1 as reported)
Sponsor: Senator John J.H. Schwarz, M.D.
Committee: Economic Development, International Trade and Regulatory Affairs
CONTENT
The bill would amend the shopping areas redevelopment Act to extend the Act to a business improvement district; allow a city to create one or more business improvement districts by resolution; and establish the membership of a business improvement district board. The bill would require the board, before levying a special assessment that benefitted property within the business improvement district, to develop a marketing and development plan that detailed the scope, nature, and duration of the business improvement district project, the different classes of property owners that were going to be assessed, and the projected amount of the special assessment on the different classes.
"Business improvement district" would mean one or more portions of a city or combination of contiguous portions of two or more cities that were predominantly commercial or industrial in use.
The Act currently allows a city with a plan for the physical development of the city, that includes an urban design plan designating a principal shopping district or includes the development or redevelopment of a principal shopping district, to conduct projects in conjunction with the principal shopping district.
MCL 125.981-125.985 - Legislative Analyst: N. Nagata
FISCAL IMPACT
The bill would have no fiscal impact on State government. The bill would allow cities, as specified in the bill, to create business improvement districts. Data such as the size of the districts, and the type and number of businesses that would be included in the districts, are not available to determine the fiscal impact. However, special assessments would be levied only on businesses in the business improvement districts according to the benefits each business received.
Date Completed: 4-28-99 - Fiscal Analyst: R. Ross
floor\sb484 - Analysis available @ http://www.michiganlegislature.org
This analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent.