Louisiana 2019 Regular Session

Louisiana House Bill HB539

Introduced
3/29/19  
Refer
3/29/19  
Refer
3/29/19  
Refer
4/8/19  
Refer
4/8/19  
Report Pass
5/2/19  

Caption

Provides relative to tax increment financing in certain parishes

Impact

The bill's implementation means that economic development districts could now directly engage in development projects that are vital for urban redevelopment and commerce stimulation. Key powers granted include the ability to levy taxes, issue bonds, and enter into cooperative agreements, thereby giving these districts substantial autonomy to manage funds and initiatives for local improvement. This measure could facilitate significant infrastructural development and renovation within populous parishes, potentially increasing job opportunities and enhancing local economies.

Summary

House Bill 539 is a legislative proposal aimed at enhancing economic development by enabling certain parishes in Louisiana to utilize tax increment financing (TIF). Specifically, the bill authorizes parishes with populations exceeding 435,000 to create economic development districts. These districts will work collaboratively with state authorities and property owners within the districts to foster economic growth and community initiatives. By setting up these districts, parishes can establish a framework for public-private partnerships that can boost commercial activities in designated areas.

Sentiment

Overall, the sentiment around HB 539 is largely supportive among legislators and stakeholders who view it as a necessary instrument to spur local growth and encourage investment into underdeveloped areas. Advocates argue that the ability for parishes to deploy TIF represents a strategic advantage for economic resilience and enlargement. However, mixed feelings may arise regarding the extent of control afforded to these districts and the oversight required to ensure equitable benefit for local communities, reflecting broader debates about governance and local empowerment.

Contention

Despite its potential, concerns exist regarding HB 539 that may lead to contention in discourse. Critics of the bill may emphasize the risks associated with granting extensive powers to local districts, particularly regarding the transparency and accountability of the financial mechanisms employed. There is also apprehension surrounding the implications for property tax levies and how they could affect residents in the long term. Balancing the growth-driven goals of the bill with the need for community protection and representation will be integral as discussions progress.

Companion Bills

No companion bills found.

Previously Filed As

LA HB616

Provides relative to tax increment financing in certain parishes

LA HB1089

Provides relative to tax increment financing in certain parishes

LA SB237

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

LA HB162

Provides relative to the use of tax increment financing in Rapides Parish

LA SB88

Authorizes creation of a tax increment financing district for parishes of a certain size for economic development purposes. (gov sig)

LA HB761

Authorizes certain municipalities to create tax increment financing districts

LA HB335

Relative to the New Orleans City Park Taxing District, provides with respect to procedures relative to use of state sales tax increments for tax increment financing (EN DECREASE GF RV See Note)

LA HB41

Provides relative to the use of tax increment financing in Rapides Parish (Item #66) (OR SEE FISC NOTE LF RV)

LA SB00110

An Act Eliminating The Sunset For Certain Tax Incremental Financing Programs.

LA HB29

Provides relative to the use of state sales tax increments in certain local tax increment financing initiatives (OR SEE FISC NOTE GF RV)

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