(a) Preliminary business improvement district tax roll. Within 10 days after the effective date of this law, the district corporation must provide the Executive and Council with a preliminary business improvement district tax roll.
(b) Imposition of business improvement district tax.
(1) The Council must impose a business improvement district tax to provide funds for the operation of the District.
(2) The Council must impose on members of the District the district tax at a rate specified by the board and approved by the Council.
(3) The tax imposed under this subsection must not count against the limits on the ad valorem weighted tax rate on real property in Section 305 of the County Charter.
(c) Collection. The district tax must be collected in the same manner as real property taxes are collected and distributed each quarter to the District.
(d) Reimbursement for collection costs. The district corporation must reimburse the County for the costs incurred in collecting the district tax.
(e) Miscellaneous Revenue. All other revenues collected by a business improvement district corporation, including charges for services and private contributions, must be used to benefit the district corporation. (2021 L.M.C., ch. 25, §1.)