House Bill No. [insert bill number] amends and reenacts R.S. 33:130.865.1, focusing on the New Orleans Exhibition Hall Authority Economic Growth and Development District. The bill clarifies the powers and duties of the district, particularly regarding payment in lieu of taxes (PILOT) agreements. It establishes that properties owned by the district are public property exempt from ad valorem taxes, while improvements not owned by the New Orleans Exhibition Hall Authority are subject to taxes or PILOT agreements. The bill also modifies the process for designating properties as "economic development projects," removing the requirement for prior review by the New Orleans City Council and allowing the district's board to set terms for PILOT payments directly to municipal taxing authorities.

Additionally, the bill stipulates that lessees or sublessees must pay the full amount of ad valorem taxes levied by the Orleans Parish school board and defines "project" to encompass various facilities related to tourism and entertainment. It retains the requirement for annual compliance reports from approved economic development projects but eliminates several procedural steps previously mandated for PILOT agreements, streamlining the process for the district and its projects. The bill will take effect upon the governor's signature or after the lapse of time for gubernatorial action.

Statutes affected:
HB270 Original: