NOTE:  As provided in LFC policy, this report is intended only for use by the standing finance committees of the legislature.  The Legislative Finance Committee does not assume responsibility for the accuracy of the information in this report when used for other purposes.

 

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F I S C A L   I M P A C T   R E P O R T

 

 

 

SPONSOR:

Aragon

 

DATE TYPED:

3/06/03

 

HB

 

 

SHORT TITLE:

Public Improvement District Time Requirements

 

SB

451/aSPAC

 

 

ANALYST:

Padilla

 

APPROPRIATION

 

Appropriation Contained

Estimated Additional Impact

Recurring

or Non-Rec

Fund

Affected

FY03

FY04

FY03

FY04

 

 

 

NFI

 

 

 

 

(Parenthesis ( ) Indicate Expenditure Decreases)

 

SOURCES OF INFORMATION

 

LFC Files

 

Responses Received From

Department of Finance and Administration

Attorney General’s Office

 

SUMMARY

 

     Synopsis of SPAC Amendment

 

The Senate Public Affairs Committee Amendment extends to ninety days the time within which a governing body must act on a petition for creation of a public improvement district.  The original bill provided for only sixty days. 

 

     Synopsis of Original Bill

 

Senate Bill 451 adds new language to the Public Improvement District Act to require a governing body to act within sixty days of receiving a petition for creation of a public improvement district.  If the body fails to act within sixty days, the petition is automatically considered to be accepted. 

 

     Significant Issues

 

Current statute regarding petitions for forming public improvement districts contains no timeframes within which governing bodies must act.  Currently, therefore, governing bodies may indefinitely table or not act on a petition.  This bill would provide a sixty-day window in which governing bodies must act.

 

ADMINISTRATIVE IMPLICATIONS

 

The administrative implications of this bill would fall on the governing bodies of counties and municipalities.

 

POSSIBLE QUESTIONS

 

1.  Do counties and municipalities support this bill?

2.  Is sixty days long enough to allow the governing bodies of counties and municipalities to respond to a petition?

 

LP/ls/njw