Requires the legislative body to provide notice and conduct a public hearing before a proposed economic enhancement district may be established. Amends the definition of "economic enhancement project". Amends the required contents of an ordinance to establish an economic enhancement district. Increases the number of members of an economic enhancement board from eight to nine and amends the composition of the board. Requires an economic enhancement district to expire not later than 10 years from the date of the adoption of an ordinance. Repeals a provision that allows an economic enhancement district to be extended. Requires that an ordinance establishing an economic enhancement district must be adopted on or before December 31, 2024. Provides that if the legislative body of a city has adopted an ordinance to establish an economic enhancement district before the effective date of this bill, that ordinance shall be void, but may be revised and reenacted by the legislative body by the adoption of a new ordinance, which must comply with the provisions added in the bill. Makes a technical correction.

Statutes affected:
House Bill (S): 36-7-40-3, 36-7-40-4, 36-7-40-5, 36-7-40-9, 36-7-40-12
Engrossed House Bill (S): 36-7-40-3, 36-7-40-4, 36-7-40-5, 36-7-40-9, 36-7-40-12
Enrolled House Bill (H): 36-7-40-3, 36-7-40-4, 36-7-40-5, 36-7-40-12