Louisiana Senate Bill SB412

Louisiana 2016 Regular Session

• Introduced: 4/5/16
• Refer: 4/6/16
• Report Pass: 5/9/16
• Engrossed: 5/12/16
• Refer: 5/13/16
• Report Pass: 5/19/16
• Enrolled: 6/2/16
• Chaptered: 6/16/16
• Passed: 6/16/16

Caption

Authorizes creation of special districts within certain cities and provides for the governance and the powers and duties of the district, including tax increment finance authority. (gov sig)

Impact

The implementation of SB 412 is expected to reform how local governments operate regarding economic development projects. By establishing special districts, municipalities can better manage funds and direct resources towards infrastructure improvements. This may lead to enhanced economic opportunities within the district, as local governments gain access to new finance tools that were previously limited. The bill provides for a governance structure that includes a board of commissioners, offering local stakeholders a meaningful role in decision-making processes.

Summary

Senate Bill 412, introduced by Senator Brown, authorizes the creation of special districts within certain municipalities in Louisiana. The bill aims to provide local governments with increased autonomy to develop economic initiatives and infrastructure projects by allowing them to implement tax increment financing and bonding. This legislation seeks to facilitate cooperative economic development between these districts and the cities they operate in, ultimately benefiting local businesses and property owners.

Sentiment

The sentiment surrounding SB 412 appears to be generally positive among supporters who view it as a necessary step towards promoting economic growth and development in local areas. The ability to create special districts is seen as empowering for municipalities, helping them to tailor approaches that suit their unique needs and contexts. However, there may be concerns regarding the transparency and management of funds within these new districts, with critics questioning the effectiveness of localized governance.

Contention

Notable points of contention may arise from concerns about the potential for mismanagement or inequity in funding allocation within these special districts. There could be debates over the prioritization of projects and whether smaller communities might be overlooked in favor of more prosperous areas. As such, while the bill may foster local control and enhance infrastructure funding, there will be discussions about ensuring accountability and equitable distribution of resources among different municipalities.