Honorable Jim Murphy, Chair, House Committee on Special Purpose Districts
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB4297 by Miller (Relating to the creation of Telfair Tract 5 Commercial Management District; providing authority to issue bonds; providing authority to impose assessments, fees, or taxes.), As Introduced
No fiscal implication to the State is anticipated.
The bill would amend the Special District Local Laws Code establishing the Telfair Tract 5 Commercial Management District. The district would have authority of a public improvement district, development corporation, and a municipal management district. The district would have authority to engage in economic development activities. The district would not have the authority to exercise the power of eminent domain. The district would have authority to impose an operation and maintenance tax and a contract tax. The district would have authority to issue bonds and other obligation, without an election.
The bill would take effect immediately if the bill receives two-thirds vote in each house; otherwise, the bill would take effect September 1, 2017.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.