This bill enacts R.S. 33:2740.70.9, establishing the Railroad Avenue Historic Cultural Economic District within the city of Jeanerette. The district is created to foster economic and community development, enhance property improvement, provide cultural enrichment, and promote employment opportunities and infrastructure improvements. The boundaries of the district will align with those of the existing Railroad Avenue Historic Cultural District. Governance will be provided by a board of commissioners composed of seven voting members and one nonvoting member, with specific appointments from local organizations and government representatives.
Additionally, the district is granted the authority to levy a sales and use tax not exceeding one percent, contingent upon approval from the district's qualified electors. The bill also allows the district to implement tax increment financing and issue revenue bonds to finance projects aligned with its objectives. The district will dissolve one year after all debts are settled. The act will take effect upon the governor's signature or after the designated period for bills to become law without a signature.