The bill establishes the St. Martin Parish Economic and Industrial Development District as a political subdivision of Louisiana, aimed at promoting industrial and commercial development within St. Martin Parish. The district will focus on job creation, economic growth in disadvantaged communities, and infrastructure improvements. It will have the authority to levy taxes, issue bonds, and implement various economic plans with voter approval. Governance will be managed by a board of commissioners appointed from local authorities, which will oversee the district's operations, including property acquisition, fee regulation, and collaboration with other agencies to enhance community prosperity.

Additionally, the bill introduces provisions for the district's financial operations, allowing it to incur debt and issue negotiable bonds, including general obligation ad valorem property tax secured bonds, contingent upon voter approval. The district can also issue revenue bonds and certificates of indebtedness, with guidelines ensuring that annual debt service does not exceed anticipated revenues. The bill mandates that any bonds issued will be considered public securities and subject to existing Louisiana Revised Statutes regarding defeasance and refunding. A thirty-day period is established for contesting the legality of debt issuance resolutions, after which the legality is presumed valid, and all financial instruments will require approval from the State Bond Commission for compliance.