Louisiana 2010 Regular Session

Louisiana Senate Bill SB227

Introduced
3/29/10  

Caption

Provides relative to the New Orleans Regional Business Park.

Impact

If passed, SB 227 will significantly alter the landscape of municipal authority in New Orleans by establishing a body politic with the power to develop its financing strategy through the issuance of revenue and general obligation bonds. These financial instruments will be critical in funding infrastructure projects that the district might undertake, potentially impacting property taxes and local economic conditions. The bill removes the existing cap on the total amount of outstanding bonds, allowing for greater fiscal flexibility to generate funds needed for significant development projects.

Summary

Senate Bill 227, also known as the New Orleans Regional Business Park Act, aims to create a specialized municipal district in New Orleans designed to spur economic development and job creation, especially in economically disadvantaged areas of the city and its adjacent parishes. The bill grants the newly formed district extensive powers to undertake various activities including project development, infrastructure enhancement, and real estate management. It establishes a board of commissioners that will oversee these activities and ensures the district operates with the intention of benefiting the local economy and communities.

Sentiment

The general sentiment surrounding SB 227 appears to be a mixture of optimism and skepticism. Supporters view the bill as an essential mechanism for stimulating local economic growth and addressing necessary infrastructure improvements. However, critics express concerns regarding accountability and transparency in the district's operations, especially given its broad powers over financial decisions and project approvals. This divide captures a tension between the need for economic revitalization in New Orleans and the desire for responsible governance.

Contention

Key points of contention include the bill's provisions allowing the district to issue bonds without direct voter approval, a departure from traditional practices where significant taxation decisions often require public consent. Opponents argue that this could lead to financial mismanagement and a lack of accountability, as the elected officials operating the district are not directly accountable to the local population in the same way that city council members are. This disconnect raises questions about the balance between facilitating economic growth and ensuring participatory governance.

Companion Bills

No companion bills found.

Similar Bills

LA SB761

Provides relative to the New Orleans Regional Business Park.(gov sig)

LA SB187

Provides for the creation of the St. Martin Parish Economic and Industrial Development District. (8/1/25)

LA SB677

Provides relative to the New Orleans Regional Business Park.

LA HB924

Creates the Downman Road Economic Development District in Orleans Parish (EN SEE FISC NOTE LF RV See Note)

LA SB395

Creates a railroad district encompassing Vermilion and Iberia parishes. (8/15/10)

LA SB155

Provides for creation of the Gretna Economic Development District. (gov sig)

LA SB364

Provides for the Downtown Development District of the city of New Orleans. (gov sig)

LA SB204

Provides relative to the Downtown Development District of the city of New Orleans. (8/15/11)