Enacts provisions authorizing an entertainment district

HB 1580 establishes a process for municipalities to create entertainment districts by requiring property owners to submit a detailed petition. To qualify, petitioners must secure signatures from owners collectively holding over 50% of the district’s assessed property value and over 50% of all property owners, including a 5-year plan outlining services, improvements, funding sources, and district governance. The bill sets a 27-year maximum lifespan for new districts (unless extended) and specifies limits on property taxes, special assessments, and borrowing capacity. This directly affects property owners within proposed districts and local governments seeking to develop entertainment zones through formal municipal authorization.