DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part of the
legislative instrument. The keyword, one-liner, abstract, and digest do not constitute part of the law
or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
HB 1056 Reengrossed 2016 Regular Session Leger
Abstract: Authorizes the New Orleans Exhibition Hall Authority Economic Growth and
Development District to levy taxes and implement tax increment financing and to create
subdistricts.
Present law creates and provides for the New Orleans Exhibition Hall Authority Economic Growth
and Development District as a political subdivision and provides for its boundaries. Provides that
the district's purpose is to provide for cooperative economic and community development among the
district, the city, the state, and the owners of property in the district, to enhance the development of
and improvement to property within the district, and to promote economic growth, safety, and
development. Provides for the district's governance.
Present law provides for the district's powers and duties, including the following:
(1)Sue and be sued.
(2)Adopt, use, and alter a corporate seal.
(3)Acquire property by gift, grant, or purchase and to hold and use any franchise or property.
(4)Enter into contracts for the purchase, lease, acquisition, construction, and improvement of
works and facilities.
(5)Mortgage its properties and enter into leases and other agreements. Specifically exempts any
such lease from present law on leasing public property.
(6)Require and issue licenses with respect to its properties and facilities.
Proposed law retains present law.
Present law authorizes the district to exercise any and all of the powers granted to an economic
development district as if the district were an economic development district established pursuant
to present law, excluding, however, the powers of tax increment financing and the power to levy
taxes within the district.
Proposed law instead grants the district all of the powers of an economic development district
established pursuant to present law, including the powers of tax increment financing and the power to levy taxes. Proposed law additionally provides that the taxing authority granted to the district
pursuant to proposed law cannot limit any taxing authority granted to the city of New Orleans
pursuant to the state constitution (Art. VI, Sec. 29(B)).
Proposed law authorizes the district to create subdistricts. Requires the district to publish notice of
its intent to create a subdistrict in the official journal of the district. Requires the district's board, at
least 10 days after publication, to conduct a public hearing on the question of creating the subdistrict.
Provides that each subdistrict constitutes a political subdivision of the state and shall be governed
by the district's board. Grants each subdistrict the same powers granted to the district.
Present law authorizes the district to issue bonds or other evidence of indebtedness to provide funds
to achieve its purposes, including payment of costs of a project. Provides with respect to such debt
issuance and procedures therefor. Authorizes establishment of funds or reserves with respect to the
financing and operation of any project funded with bond proceeds. Provides procedures for
contesting legality of debt issuance. Provides for exemption from state and local taxes for
obligations issued by the district and authorizes investment in such obligations by public bodies and
specified financial institutions, insurance related entities, specified fiduciaries, and retirement
systems or pension funds.
Proposed law makes present law applicable to subdistricts created by the district.
Effective July 1, 2016.
(Amends R.S. 33:130.865(9) and 130.866; Adds R.S. 33:130.865(10))