HASBSB481 TYLERT 4205
SENATE SUMMARY OF HOUSE AMENDMENTS
SB 481 2024 Regular Session Boudreaux
KEYWORD AND SUMMARY AS RETURNED TO THE SENATE
SPECIAL DISTRICTS. Provides for the University of Louisiana at Lafayette
Economic Development District.
SUMMARY OF HOUSE AMENDMENTS TO THE SENATE BILL
1. Technical amendments.
DIGEST OF THE SENATE BILL AS RETURNED TO THE SENATE
DIGEST
SB 481 Engrossed 2024 Regular Session Boudreaux
Proposed law provides for the creation of an economic development district that includes
property owned by the University of Louisiana at Lafayette (ULL) and its affiliate entities.
The purpose of the district is to provide for cooperative economic and community
development.
Proposed law provides for the boundaries of the district.
Proposed law provides that the district shall be administered and governed by a board of
commissioners comprised as follows:
(1)The president of the university or a successor president.
(2)The president of the university shall appoint four persons.
Proposed law provides that the appointed members shall serve five-year terms after the initial
terms, determined by lot, as follows:
(1)Two members shall serve an initial term of two years.
(2)Two members shall serve an initial term of three years.
Proposed law provides that each appointed member of the board shall continue to serve until
reappointed or a successor is duly appointed. Any vacancy in the membership of the board
shall be filled in the manner of the original appointment for the unexpired term. If an
appointment to fill a vacancy is not made within 60 days, the board shall appoint an interim
successor to serve until the position is filled by the president of the university.
Proposed law provides that the district shall have and exercise all powers of a political
subdivision, including but not limited to the following:
(1)To sue and be sued.
(2)To adopt, use, and alter at will a corporate seal.
(3)To acquire by gift, grant, purchase, donation, exchange, or any other means all
property.
(4)To enter into contracts in connection with the purposes of the district.
(5)To incur debt and to issue revenue bonds, special assessment bonds, certificates,
notes, and other evidences of indebtedness and to levy certain taxes.
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(6)To regulate the imposition of fees and rentals charged by the district for its facilities
and services rendered by it.
(7)To borrow money and pledge all or part of its revenues, leases, rents, or other
advantages as security for such loans.
(8)To appoint officers, agents, and employees, prescribe their duties, and fix their
compensation.
(9)To develop public improvement projects for the benefit of the university.
(10)To exercise any and all of the powers granted to an economic development district
under present law.
(11)To exercise any and all of the powers granted to a community development district
as if the district were a community development district established pursuant to
present law.
Proposed law provides that the district may create subdistricts. The district shall publish
notice of its intent to create a subdistrict in the official journal of the district.
Proposed law provides that any sales and use tax levied by the district may exceed the
limitation set forth by present law and shall be imposed, collected, and enforced subject to
the terms of the resolution imposing the tax and the provisions of present law.
Proposed law provides that the district is authorized to levy taxes or assessments of any type
acting by and through its board. Further provides that the tax so authorized shall be imposed
by ordinance adopted by the district, acting by and through its board, without the need of an
election.
Proposed law provides that the district may issue and sell from time to time bonds, notes,
renewal notes, refunding bonds, interim certificates, certificates of indebtedness, certificates
of participation, debentures, warrants, commercial paper, or other obligations or evidence of
indebtedness to provide funds for and to fulfill and achieve its purposes.
Proposed law provides that the district may be the recipient of a sales or use tax increment
which consists of that portion of the designated incremental sales or use tax 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.
Proposed law provides that any ordinance or resolution adopted by the board or the pledge
of tax increments collected under the authority of proposed law to any financing authorized
by proposed law shall be published at least twice in the official journal of Lafayette Parish.
Proposed law provides that proposed law shall be liberally construed.
Effective August 1, 2024.
(Adds R.S. 33:9038.77)
______________________
Thomas L. Tyler
Division Director
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