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, undertake projects to eliminate urban blight, and manage properties within specified areas of Lafayette Parish. The bill also introduces a requirement for the board of commissioners to include at least one member from a racial minority, enhancing representation within the authority.

Furthermore, the bill expands the authority's powers to include the ability to enter into cooperative endeavor agreements, convey property to governmental entities, and levy sales and use taxes within the district. It also repeals R.S. 33:4720.171, streamlining the legal framework governing the LEDA. These changes aim to bolster economic and community development efforts in Lafayette Parish, particularly in distressed areas, by providing the authority with the necessary tools to facilitate redevelopment and revitalization activities.

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)