Senate Bill No. 283, introduced by Senator Barrow, establishes the BLVD at Harding Area Special District in Baton Rouge, Louisiana, and amends existing law to include this district in the definitions of "Issuer" and "Local governmental subdivision" under R.S. 33:9038.31. The district aims to promote cooperative economic development among the district, the city of Baton Rouge, and local businesses, with a focus on infrastructure costs managed by a board of commissioners. The governance structure consists of appointments from the mayor, state representatives, and property owners, with board members serving without salary but eligible for expense reimbursement.

The bill grants the district powers typical of political subdivisions, such as incurring debt, issuing bonds, and implementing tax increment financing (TIF) for economic development projects. It modifies existing law regarding tax levies, requiring a special election for any tax increase, which must receive majority approval from qualified electors, although this requirement is waived if no qualified electors exist in the district. The legislation also mandates the district's dissolution one year after all debts are settled, with a minimum existence of three years, and is designed to be liberally construed to achieve its objectives. The bill will take effect upon the governor's signature or after the designated period for bills to become law without signature.

Statutes affected:
SB283 Original: 33:31(2)