Senate Bill No. by Senator Duplessis amends R.S. 39:1798.6(A)(2)(b) to modify the leasing authority of the Office Facilities Corporation regarding certain properties in Orleans Parish. The bill allows the corporation to enter into agreements necessary for leases or subleases of portions of the New Orleans Centre property, which includes the office tower formerly known as the Dominion Tower, the retail property formerly known as the New Orleans Shopping Centre, and the associated parking garage. Notably, the bill removes the previous limitation that leases could not exceed twenty years, thereby providing more flexibility in lease terms.

Additionally, the bill stipulates that any lease or sublease agreement must be perfected and entered into before July 1, 2010, and requires prior approval from the Joint Legislative Committee on the Budget. The act will take effect upon the governor's signature or, if not signed, after the designated period for bills to become law without the governor's signature, as outlined in the Louisiana Constitution.

Statutes affected:
SB411 Original: 39:6(A)(2)
SB411 Engrossed: 39:6(A)(2)
SB411 Enrolled: 39:6(A)(2)