The bill amends R.S. 33:2740.3, which governs the Downtown Development District (DDD) in New Orleans, by reducing the required number of board members from nine to five. All board members must be qualified voters with a principal place of business or property ownership in the district, and their appointments will now require confirmation from the New Orleans city council. The mayor will appoint two members, while the remaining members will be appointed by local organizations, including the New Orleans Chamber of Commerce and the Greater New Orleans Hotel and Lodging Association, with the city council president's approval. The bill also introduces new procedures for filling board vacancies and mandates an annual presentation to the city council regarding expenditures, emphasizing public safety and homelessness in planning efforts.

Additionally, the bill allows the DDD board to enter into contracts with the city for services and capital improvements, funded by a special tax on real property or bond proceeds, while removing the need for prior mayoral and city council approval for certain services. It authorizes the city council to levy a special ad valorem tax on taxable real property within the district for up to fifty years, with proceeds dedicated to the district's purposes. The city is also granted the authority to incur debt and issue bonds for the district, with strict limitations on the total outstanding bonds and a requirement for voter approval before any tax or bond issuance. Overall, the bill aims to enhance the governance and operational efficiency of the DDD while ensuring financial accountability and transparency.

Statutes affected:
SB364 Original: 33:3(B), 33:3(J)
SB364 Engrossed: 33:3(B), 33:3(J)
SB364 Reengrossed:
SB364 Enrolled:
SB364 Act 520:
Senate Floor Bureau Note, #1778, Harris, Jimmy, Adopted: