Regards municipal creation of joint economic development district

SB 75 allows two or more municipalities to form a joint economic development district without needing to include a township in the agreement. The bill defines specific terms for businesses, owners, and mixed-use developments to clarify who operates within the district and how it is taxed. It also establishes new rules for creating these districts, such as requiring that at least one contracting party be a municipal corporation and that the designated area generally contain no residents unless they live in a mixed-use development. This legislation aims to facilitate job creation and economic redevelopment by streamlining how local governments can collaborate on development projects.