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ACT No. 490
Regular Session, 2012
HOUSE BILL NO. 335
BY REPRESENTATIVE LORUSSO
AN ACT1
To amend and reenact R.S. 33:9038.59(G), relative to the New Orleans City Park Taxing2
District; to provide relative to tax increment financing and the dedication of state sales3
tax increments for such purpose; to provide relative to approval of agreements related4
to such state sales tax increment financing; and to provide for related matters.5
Notice of intention to introduce this Act has been published as6
provided by Article III, Section 13 of the Constitution of7
Louisiana.8
Be it enacted by the Legislature of Louisiana:9
Section 1. R.S. 33:9038.59(G) is hereby amended and reenacted to read as follows:10
ยง9038.59. New Orleans City Park Taxing District11
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G.(1) For purposes of implementing tax increment financing as provided for13
in this Part, the board shall have all authorities provided for in R.S. 33:9038.34 to14
implement sales tax increment financing, including in particular the provisions of R.S.15
33:9038.34(O), except that the provisions of R.S. 33:9038.34(A)(6) shall not be16
applicable and instead Paragraph (2) of this Subsection shall control the process for17
the dedication of any state of Louisiana sales tax increments. However, any tax or18
portion of a tax which has been previously dedicated to another purpose according to19
a proposition approved by voters shall be used as such a tax increment only if20
approved by a majority of the voters of the taxing authority levying the tax voting on21
the proposition in an election held for such purpose.22
(2) Subject to dedication by law, state of Louisiana sales tax increments may23
be dedicated to pay the revenue bonds of a local economic development project but24 ENROLLEDHB NO. 335
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shall not exceed the aggregate portion of the local sales tax increment dedicated for1
such purposes. Prior to the dedication of state sales tax increments to pay revenue2
bonds for a local economic development project, the commissioner of administration3
shall submit the proposed project to the Joint Legislative Committee on the Budget4
for approval. The submittal shall include a written evaluation and determination by5
the division of administration and certification by the Department of Revenue of the6
anticipated increase in state sales tax revenues to be collected within the state over7
state sales tax revenues that were collected within the state in the year immediately8
prior to the year in which the project is submitted to the committee that would be a9
direct result of the project. In determining whether to approve the dedication of state10
sales tax increments, the Joint Legislative Committee on the Budget shall take into11
account whether the city of New Orleans has agreed to the dedication of a portion of12
the city's sales tax for a local economic project or projects in the district, including the13
length of time for any such dedication and the amount of any such dedication. In14
addition, subject to the provisions of R.S. 33:9029.2, any cooperative endeavor15
agreement or other agreement providing for the expenditure of funds collected by the16
state as state sales tax increments and dedicated to a project or for the payment of17
revenue bonds therefor shall be subject to approval by the State Bond Commission18
prior to execution by the state, except the provisions of R.S. 33:9029.2(A)(2) and (B)19
as to the submission of applications or filing of suits by the Department of Economic20
Development shall not apply. Any application to the State Bond Commission for21
such approval shall be submitted by the district. Any suit to determine the validity22
of any cooperative endeavor agreement prior to the execution thereof pursuant to the23
provisions of Part XVI of Chapter 32 of Title 13 of the Louisiana Revised Statutes of24
1950 as though the agreement constituted the issuance of bonds of a governmental25
unit may be filed by the district.26
(2) (3) The board shall designate the boundaries of a sales tax area and shall27
designate the local sales taxes, which are to be used in determining the sales tax28
increments and the initial annual baseline collection rate for the sales tax area, which29
shall be the amount of such designated sales taxes collected in the sales tax area in the30 ENROLLEDHB NO. 335
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fiscal year of the district most recently completed prior to the establishment of the1
sales tax area. In addition, a monthly baseline collection rate shall be determined by2
dividing the initial annual baseline collection rate by twelve. The initial annual3
baseline collection rate and the monthly baseline collection rate shall be certified by4
the chief financial officer or equivalent of the district. The certification shall also be5
published one time in the official journal of the parish of Orleans. If the amounts of6
the initial annual baseline collection rate and the monthly baseline collection rate are7
not contested within thirty days after said publication, then such amounts shall be8
conclusively presumed to be valid, and no court shall have jurisdiction to alter or9
invalidate the designation of the amount of either the initial annual baseline collection10
rate or the monthly baseline collection rate.11
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Section 2. This Act shall become effective upon signature by the governor or, if not13
signed by the governor, upon expiration of the time for bills to become law without signature14
by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana. If15
vetoed by the governor and subsequently approved by the legislature, this Act shall become16
effective on the day following such approval.17
SPEAKER OF THE HOUSE OF REPRESENTATI VES
PRESIDENT OF THE SENATE
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED: