House Bill No. [insert number] aims to facilitate cooperative economic development in municipalities with populations between 1,525 and 1,600, as determined by the latest federal census. The bill allows these municipalities to create a special taxing district dedicated to the redevelopment of blighted properties into conference-style hotels and related facilities. The legislation outlines the governance structure, including the establishment of a board to oversee the district, which will have the authority to engage in tax increment financing and levy taxes on hotel occupancy and food and beverage sales within the district.

The bill specifies that the district can issue revenue bonds and collect taxes to fund its objectives, with the tax rates required to match or exceed those of the surrounding parish. It also includes provisions for the district's dissolution after all debts are settled, with a maximum lifespan of 40 years from the first tax levy. Additionally, any ordinances related to the district's financial obligations must be published, allowing for a 30-day period during which interested parties can contest their legality. The bill emphasizes the necessity of these measures for the welfare of the municipality and its residents.