Louisiana Senate Bill SB673

Louisiana 2012 Regular Session

• Introduced: 4/2/12
• Refer: 4/3/12
• Report Pass: 4/30/12
• Engrossed: 5/3/12
• Refer: 5/7/12
• Report Pass: 5/21/12
• Enrolled: 6/1/12
• Vetoed: 6/4/12

Caption

Establishes the Juban Crossing Economic Development District Fund as a special fund in the state treasury and to provide for the disposition of certain sales tax proceeds within Livingston Parish. (7/1/12) (EN DECREASE GF RV See Note)

Impact

The bill enables a structured funding framework for the Juban Crossing Economic Development District, specifically assigning a total state funding commitment that does not exceed forty-five million dollars. This funding can be used for a variety of infrastructure enhancements, which proponents argue will stimulate local economic growth and improve essential services within the district. The measure also allows funds to be invested and to accrue interest, leveraging public resources for further economic benefit while ensuring ongoing local development efforts.

Summary

Senate Bill 673 establishes the Juban Crossing Economic Development District Fund, facilitating specific allocations of sales tax proceeds in Livingston Parish. Enacted to address infrastructure needs, the bill dictates how sales tax generated within the district is managed and utilized, emphasizing improvements integral to the district's development plans. By creating this fund, the state treasury is authorized to manage these specific proceeds, directing them toward essential public infrastructure projects and economic initiatives in the area.

Sentiment

The sentiment surrounding SB 673 appears to be largely supportive among local stakeholders and lawmakers who see the economic potential in establishing a dedicated fund for infrastructure. The unanimous passage in the House indicates a strong bipartisan agreement on the bill's aims and benefits. However, there may be concerns surrounding the management and allocation of funds within the district, particularly regarding transparency and accountability in the use of state funds for local projects.

Contention

While the bill generally enjoys support, there may be notable contention regarding the limitations imposed on local funding discretion. Some critics could argue about the necessity of state oversight in local economic development efforts, as such measures could potentially restrict local authorities from innovatively addressing specific community needs. Additionally, existing commitments to other districts may pose questions about funding allocation priorities, as new districts emerge and seek state investments.