Louisiana House Bill HB717

Louisiana 2012 Regular Session

• Introduced: 3/12/12
• Refer: 3/12/12
• Report Pass: 5/14/12

Caption

Dedicates a portion of the state tax on riverboats collected in boats in Bossier and Caddo parishes to the Shreveport-Bossier Sports Commission and the Independence Bowl (OR DECREASE GF RV See Note)

Impact

The proposed law retains existing regulations surrounding riverboat gaming fees but adds a new layer of financial support for organizations focused on tourism and community growth in the affected parishes. The intent is to stimulate local economies through increased tourism, thereby benefiting businesses and related sectors in the area. By channeling funds directly into the designated organizations, the bill aims to foster partnerships between the gaming industry and tourism stakeholders, which can enhance the overall visitor experience in the region.

Summary

House Bill 717 proposes dedicating a portion of tax revenues from riverboat gaming operations in Bossier and Caddo parishes to enhance funding for local tourism initiatives. Specifically, the bill mandates that fees collected from riverboat gaming licenses—including a 2.5% portion of the franchise fees—be directed to the Shreveport-Bossier City Visitor Enterprise Fund. This allocation is designed to support local tourism efforts managed by the Shreveport-Bossier Convention and Tourist Bureau with a specific distribution to local entities such as the Shreveport-Bossier Sports Commission and the Independence Bowl Foundation.

Sentiment

The sentiment regarding HB 717 appears to lean positive, particularly among stakeholders interested in boosting local tourism and cultural events. Advocates argue that enhancing the tourism sector is essential for economic vitality in Bossier and Caddo parishes. However, there could be concerns among some factions regarding the potential over-reliance on gaming revenues for funding essential community services. Thus, while the sentiment is generally supportive, it is crucial to consider the broader implications of funding sources.

Contention

Notably, there might be discussions regarding the sustainability of revenues derived from gaming, as this relies heavily on the gaming industry's performance. There's a potential concern that, should gaming revenues decline, the funding for the visitor enterprise fund may face uncertainty, which could undermine the financial stability of tourism promotion efforts. This aspect highlights the need for a strategic approach to tourism funding that balances gaming revenues with other revenue streams to mitigate risks and ensure consistent support for local initiatives.