SLS 23RS-185 ORIGINAL
2023 Regular Session
SENATE BILL NO. 60
BY SENATOR MORRIS
TAX/LOCAL. Provides for an extension to the exception to the use of state tax increments
for the expansion of certain projects. (8/1/23)
1 AN ACT
2 To amend and reenact R.S. 33:9033(B)(3), relative to tax increment financing; to provide
3 relative to an exception to the use of state tax increments for the expansion of certain
4 projects; to provide for an extension to the exception; and to provide for related
5 matters.
6 Be it enacted by the Legislature of Louisiana:
7 Section 1. R.S. 33:9033(B)(3) is hereby amended and reenacted to read as follows:
8 ยง9033. Sales tax increment financing
9 * * *
10 B. Notwithstanding the provisions of Subsection A of this Section, the
11 prohibition regarding the use of state sales tax increments for purposes of sales tax
12 increment financing shall not apply to:
13 * * *
14 (3) Any expansion of the project scope or extension of the use of the state
15 sales tax for an economic development project or program for which the cooperative
16 endeavor agreement initially authorizing the state sales tax increment was executed
17 before July 1, 1997, and did not expire on or before August 1, 2019, provided that
Page 1 of 2
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions. SB NO. 60
SLS 23RS-185 ORIGINAL
1 the state sales tax increment shall not be extended beyond December 31, 2033
2 December 31, 2055.
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by Curry Lann.
DIGEST
SB 60 Original 2023 Regular Session Morris
Present law authorizes a local governmental subdivision to issue revenue bonds payable
solely from an irrevocable pledge and dedication of up to the full amount of sales tax
increments to finance or refinance an economic development project or any part of the
project or to pay all or a portion of the costs of an economic development project. Provides
that sales tax increments consist of that portion of sales tax revenues for any or all taxing
authorities, except for the state of Louisiana and any political subdivision whose boundaries
are coterminous with the state, collected each year on the sale at retail, the use, the lease or
rental, the consumption and storage for use or consumption of tangible personal property,
and on sales of services or any other appropriate provision of law, from taxpayers located
within an economic development area which exceeds the sales tax revenues collected for the
taxing authority in the year immediately prior to the year in which the area was designated
as an economic development area. Provides that this dedication does not impair existing
obligations and does not include tax revenues previously dedicated for a special purpose.
Present law provides that the prohibition regarding the use of state sales tax increments for
purposes of sales tax increment financing does not apply to any expansion of the project
scope or extension of the use of the state sales tax for an economic development project or
program for which a cooperative endeavor agreement initially authorizing the state sales tax
increment was executed before July 1, 1997, and did not expire on or before August 1, 2019,
provided that the state sales tax increment shall not be extended beyond December 31, 2033.
Proposed law retains these provisions but moves from December 31, 2033, to December 31,
2055, the time beyond which the state sales tax increment cannot be extended.
Effective August 1, 2023.
(Amends R.S. 33:9033(B)(3))
Page 2 of 2
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.