This bill enacts a new subpart within the Louisiana Revised Statutes, specifically creating the "Acadiana Regional Airport and LeMaire Memorial Airport District." The establishment of this district is contingent upon approval from both the Iberia Parish Council and the Federal Aviation Administration (FAA). The district will function as a political subdivision of the state, with the authority to levy taxes, incur debt, and issue bonds, subject to the prior approval of the Iberia Parish Council for any tax proposals. The district's domicile will be in Iberia Parish, and its boundaries will align with those of the parish, encompassing the Acadiana Regional Airport and LeMaire Memorial Airport.

The governance of the district will be managed by a board of commissioners consisting of seven members appointed by the Iberia Parish Council, with specific residency requirements. The board will have extensive powers, including the ability to acquire and operate airport facilities, enter into contracts, and manage financial obligations related to airport operations. Additionally, the bill mandates that the district submit an annual financial report to the Iberia Parish Council and outlines compliance requirements for local government to ensure the district's operational integrity. The act will take effect upon the governor's signature or after the designated period for bills to become law without signature.