House Bill No. 270, introduced by Representative Knox, seeks to amend the powers and duties of the New Orleans Exhibition Hall Authority Economic Growth and Development District. The bill modifies the existing law regarding payment in lieu of taxes (PILOT) agreements, specifically removing the requirement for prior review by the New Orleans City Council for economic development projects. Instead, it allows the district's board to mandate that lessees or sublessees pay an annual sum in lieu of ad valorem taxes to the relevant parish or municipal taxing authorities, which should not exceed the amount of taxes that would have been owed had the lessee been the owner of the property. Additionally, the lessee or sublessee is required to pay the full amount of ad valorem taxes levied by the Orleans Parish school board.

The bill also clarifies the definition of "project" to encompass a range of facilities, including convention, exhibition, and retail spaces, along with necessary infrastructure and equipment. It retains the requirement for annual project compliance reports to be submitted to the city council and the office of economic development, while also stipulating that failure to comply with the PILOT agreement can lead to its amendment or cancellation. Overall, the proposed changes aim to streamline the process for economic development projects within the district while ensuring that local taxing authorities are compensated for services rendered.

Statutes affected:
HB270 Original: