This is the bill letting big landowners/developers create their own governmental entities ("local improvement districts" or LIDs) within existing municipalities. It grants the developers the power to issue tax-exempt bonds and levy property taxes ("assessments") to pay the cost of their desired "infrastructure," broadly defined to include parking garages, recreation and cultural facilities and other profitable improvements.
The boundaries, drawn by the developers, may include up to 20% acreage/parcels of property-owners who do not want to be in the District, yet would be forced to pay new property taxes to pay off the bonds. Tenants -- who could be the vast majority of LID residents and small-business leaseholders -- would be entirely excluded from the decision to create the District, but would end up paying the new taxes through rent increases. This bill is a throw-back to feudal times when property ownership was a prerequisite for civil rights.
These new governments would be exempt from many public interest safeguards, including public records law, oversight by the Department of Revenue, laws governing public construction, civil service, conflict of interest and more.