Louisiana 2014 Regular Session

Louisiana House Bill HB1093

Introduced
3/31/14  
Introduced
3/31/14  
Refer
4/1/14  
Refer
4/1/14  
Report Pass
4/28/14  
Report Pass
4/28/14  
Engrossed
5/6/14  
Engrossed
5/6/14  
Refer
5/7/14  
Refer
5/7/14  
Report Pass
5/19/14  
Report Pass
5/19/14  
Enrolled
5/27/14  
Enrolled
5/27/14  
Chaptered
6/18/14  
Chaptered
6/18/14  
Passed
6/18/14  

Caption

Authorizes certain development districts that receive TIF funding from a municipality to provide for an audit of related financial activities of the municipality and other entities that provide such funding (EN SEE FISC NOTE LF EX See Note)

Impact

The implications of HB 1093 on state laws involve a significant shift towards greater oversight of development districts regarding their financial dealings with municipalities. By mandating audits, the bill aims to ensure that public funds are managed appropriately and that there is compliance with relevant laws and regulations. This change is expected to foster an environment of greater fiscal responsibility within local governments and their associated financing districts, potentially leading to increased public trust in these institutions.

Summary

House Bill 1093 aims to enhance accountability and transparency in the financial operations of development districts that receive tax increment financing (TIF) from municipalities. Specifically, it authorizes such districts to conduct audits of their financial activities, as well as those of the municipalities and local governmental entities associated with their TIF agreements. The bill sets forth provisions for how these audits will be carried out, including the option to have the legislative auditor perform the audit or to hire an auditor approved by the legislative auditor if necessary.

Sentiment

The general sentiment surrounding HB 1093 appears to be positive, particularly among those who advocate for government transparency and fiscal accountability. Supporters argue that regular audits will lead to more prudent use of public resources and better governance. However, there may be some concerns from local officials who could see this as an additional regulatory burden or a challenge in managing financial oversight effectively without significant resources.

Contention

Notable points of contention could arise regarding the scope and frequency of the audits stipulated in the bill. While the intention is to enhance accountability, some critics may argue that the mandated audits could lead to bureaucratic inefficiencies or divert funds that could otherwise be used for developmental projects. The provision allowing for audits as frequently as once a year might also become a contentious point if seen as excessive or unduly burdensome for smaller municipalities.

Companion Bills

No companion bills found.

Previously Filed As

LA SB23

Provides for activities of certain entities or organizations involved in extracurricular student athletic activities which receive more than fifty percent of funding from public schools. (8/1/20)

LA HB05380

An Act Concerning Audits Of Certain Financially Distressed Municipalities By The Auditors Of Public Accounts.

LA HB272

Provides relative to firearms buyback programs for parishes and municipalities (EN SEE FISC NOTE LF EX)

LA HB761

Authorizes certain municipalities to create tax increment financing districts

LA SB237

Provides relative to certain tax increment financing districts. (gov sig) (EN SEE FISC NOTE RV See Note)

LA HB1225

State Auditor; authorize to review and examine municipalities under certain conditions.

LA HB858

Provides relative to economic development districts created by local governmental subdivisions and for the use of tax proceeds collected by such districts (EN SEE FISC NOTE LF RV See Note)

LA HB653

Provides relative to Granting Unserved Municipalities Broadband Opportunities (EN SEE FISC NOTE FF EX See Note)

LA HB606

Prohibits entities that perform abortions from receiving public funding for any purpose (EN NO IMPACT See Note)

LA HB586

Creates the Office of the State Public Defender and Justice Investment and provides for the relocation of certain court-related service providers and related funding (RE SEE FISC NOTE SD EX See Note)

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