Louisiana Senate Bill SB555

Louisiana 2010 Regular Session

• Introduced: 3/29/10
• Refer: 3/29/10

Caption

Corrects the name of certain entities allocated monies from the St. Tammany Parish Fund. (7/1/10) (OR NO IMPACT RV See Note)

Impact

The proposed changes underline the significance of proper fund allocation towards tourism and industrial development, reflecting a commitment to maintaining and enhancing local economic drivers. By cleaning up the statutory language and removing obsolete provisions, SB555 aims to streamline financial operations related to the St. Tammany Parish Fund, potentially improving transparency and efficiency. The bill's effective date is set for July 1, 2010, which indicates the urgency and necessity to enact these changes promptly to avoid confusion in fund management.

Summary

Senate Bill 555, introduced by Senator Crowe, aims to amend the Louisiana Revised Statutes by correcting the names of entities receiving funds from the St. Tammany Parish Fund. This bill emphasizes the allocation structure of funds generated from the state sales tax on room rentals within St. Tammany Parish, which historically supports local tourist and economic development initiatives. The updated language clarifies the distribution of funds, maintaining an 85% allocation to the St. Tammany Parish Tourist Commission and 15% to the Economic and Industrial Development District, but correcting certain entities' names to reflect their current designations.

Sentiment

The sentiment surrounding SB555 appears to be generally supportive, especially among local stakeholders in tourism and economic development sectors who depend on the accuracy and efficiency of fund allocations. However, some dissent could arise regarding potential impacts on specific local initiatives that may exist outside the revised definitions. Overall, proponents seem to view the bill as a pragmatic step towards ensuring that state-supported funding mechanisms align with local needs and current operational structures.

Contention

While there are no significant points of contention highlighted in the provided information, the necessity for statutory amendments may prompt discussions regarding the appropriateness of fund distribution and the roles of designated entities. The bill seeks to correct and clarify rather than alter the fundamental allocations, which might lead to inquiries on whether existing funds sufficiently meet local needs and whether additional adjustments to allocation percentages might be warranted in the future.