The proposed bill would significantly update current statutes by introducing new provisions for the establishment and management of Tourism Improvement Areas (TIAs) within municipalities or counties. Key changes include the requirement for a formation petition that must gather signatures from owners of at least two lodging businesses, as well as detailed information on geographic boundaries, assessment rates, and area plans. The bill mandates the preparation of a tourism improvement area plan prior to public hearings, which must outline the area’s boundaries, planned activities, financing sources, and assessment formulas. Additionally, it establishes an owners' board composed of lodging business owners to oversee the management of these areas.

The bill also introduces new processes for lodging business owners regarding membership in the TIA, allowing those who did not sign the formation petition to join within 60 days of establishment. It provides a 60-day annual period for owners to request dissolution of the TIA, starting one year after its establishment, and requires notification of rights to join or withdraw. Furthermore, the bill outlines procedures for joining or withdrawing from the TIA, ensuring that owners who withdraw are no longer subject to assessments. It also includes provisions for the renewal of TIAs and the appointment of authorized agents for management purposes, thereby creating a structured framework aimed at enhancing tourism and economic development through collaboration among local businesses and government entities.