The proposed bill would significantly update the current statutes governing tourism improvement areas by introducing new provisions and processes. It would authorize the formation of a tourism improvement area based on valid petitions from lodging business owners, outline the necessary information for these petitions, and allow owners to appoint representatives. Additionally, it would require the preparation of a tourism improvement area plan prior to public hearings and specify the content required for this plan. The bill also establishes guidelines for lodging business assessments, including limits on assessment amounts and methods for levying these assessments, mandates that the destination marketing organization (DMO) manage the area and report on collected assessments, and requires public hearings for any amendments to the plan. Moreover, the bill would amend Title 48 of the Arizona Revised Statutes by adding Chapter 38, which includes definitions for key terms and outlines the governance structure of tourism improvement areas. It specifies the process for forming these areas, including petition requirements and geographic boundaries, and details the procedures for levying assessments. The bill emphasizes the importance of public hearings for both the formation and potential dissolution of tourism improvement areas, ensuring that any remaining funds after dissolution are allocated according to the area plan or refunded to lodging business owners.