This bill amends and reenacts several sections of Louisiana law related to the Lafayette Economic Development Authority (LEDA) and establishes new provisions for its operations and governance. Key changes include the creation of a redevelopment authority under R.S. 34:293.2, which grants the LEDA additional powers to develop and execute redevelopment plans, engage in revitalization activities in distressed areas, and manage properties for economic development. The bill also specifies that the board of commissioners will include a member from a racial minority, enhancing representation within the authority.

Furthermore, the bill allows the LEDA to enter into cooperative endeavor agreements and grants it the authority to levy and collect sales and use taxes within its jurisdiction, subject to voter approval. It repeals R.S. 33:4720.171, streamlining the legal framework governing the authority. Overall, the legislation aims to bolster economic development and redevelopment efforts in Lafayette Parish by expanding the powers and responsibilities of the LEDA.

Statutes affected:
SB480 Original: 34:291(A), 34:292(B)(1), 34:293(A)(1), 34:1(A)
SB480 Engrossed: 34:291(A), 34:292(B)(1), 34:293(A)(1), 34:1(A)
SB480 Reengrossed: 34:291(A), 34:292(B)(1), 34:293(A)(1), 34:1(A)
SB480 Enrolled: 34:291(A), 34:292(B)(1), 34:293(A)(1), 34:1(A)
SB480 Act 531: 34:291(A), 34:292(B)(1), 34:293(A)(1), 34:1(A)