The original instrument was prepared by James Benton. The following digest, which
does not constitute a part of the legislative instrument, was prepared by Thomas L.
Tyler.
DIGEST
SB 408 Reengrossed 2024 Regular Session Fields
Present law provides relative to cooperative economic development.
Present law consolidates and revises provisions relative to tax increment financing and authorized
increases in ad valorem taxes, sales taxes, and hotel occupancy taxes in economic development
areas.
Proposed law retains present law but further provides that an ordinance establishing a district by the
governing authority may provide that no portion of a proposed district shall include any tract of land
that is used for residential purposes, except for hotels, motels, inns, or bed and breakfasts for
temporary occupancy.
Proposed law provides that if language referencing residential property is included in the ordinance
creating the district, all residential properties included in the proposed district are deemed excluded
from the proposed district.
Effective August 1, 2024.
(Adds R.S. 33:9038.32(C)(4))
Summary of Amendments Adopted by Senate
Senate Floor Amendments to engrossed bill
1. Technical amendments