The bill amends the Improvement Special Assessment Act to clarify the responsibilities of property owners and lessees regarding special assessments. Specifically, it stipulates that special assessments shall be paid by property owners or lessees who hold industrial revenue bond leases. This change ensures that lessees under such leases are explicitly responsible for these payments, while local governments are not liable for any special assessments.

Additionally, the bill includes several amendments to existing definitions and provisions within the Act. It reinforces that special assessment liens will be recorded and maintained, detailing the necessary information for such liens, and emphasizes that counties or municipalities will not be liable for the debts associated with special assessment financing. The amendments aim to streamline the process and clarify the roles of various parties involved in special assessments, ensuring that the financial responsibilities are clearly defined and that local governments are protected from liability.

Statutes affected:
introduced version: 4-55D-2, 4-55D-5, 4-55D-7, 4-55D-10
Final Version: 4-55D-2, 4-55D-5, 4-55D-7, 4-55D-10