OFFICE OF LEGISLATIVE AUDITOR
Fiscal Note
Fiscal Note On: HB 73 HLS 202ES 147
Bill Text Version: ENGROSSED
Opp. Chamb. Action:
Proposed Amd.:
Sub. Bill For.:
Date: Author: JONES
Dept./Agy.: City of Monroe
Subject: Downtown Economic Development District (District) Analyst: Steven Kraemer
DISTRICTS/DOWNTOWN DEVEL EG SEE FISC NOTE LF EX See Note Page 1 of 1
Provides relative to the use of tax increment financing by the Downtown Economic Development District for the City of
Monroe (Item #66)
Purpose of Bill: Current law authorizes the District to use tax increment financing to fund economic development projects.
Current law authorizes the District to issue revenue bonds payable from an irrevocable pledge and dedication of tax
increments, upon approval of District voters. This bill removes the voter approval requirement.
EXPENDITURES 2020-21 2021-22 2022-23 2023-24 2024-25 5 -YEAR TOTAL
State Gen. Fd. $0 $0 $0 $0 $0 $0
Agy. Self-Gen. $0 $0 $0 $0 $0 $0
Ded./Other $0 $0 $0 $0 $0 $0
Federal Funds $0 $0 $0 $0 $0 $0
Local Funds SEE BELOW SEE BELOW SEE BELOW SEE BELOW SEE BELOW
Annual Total
REVENUES 2020-21 2021-22 2022-23 2023-24 2024-25 5 -YEAR TOTAL
State Gen. Fd. $0 $0 $0 $0 $0 $0
Agy. Self-Gen. $0 $0 $0 $0 $0 $0
Ded./Other $0 $0 $0 $0 $0 $0
Federal Funds $0 $0 $0 $0 $0 $0
Local Funds $0 $0 $0 $0 $0 $0
Annual Total $0 $0 $0 $0 $0 $0
EXPENDITURE EXPLANATION
This bill could result in an avoidance of local election costs by an indeterminable amount. The bill removes the
requirement for voter approval related to the issuance of revenue bonds payable from an irrevocable pledge and dedication
of tax increments. The removal of the requirement for an election could result in a cost avoidance for the City of Monroe,
which is indeterminable due to the timing of when the election might have been held and the number of items that could
have been on the ballot.
REVENUE EXPLANATION
There is no anticipated direct material effect on governmental revenues as a result of this measure.
Senate Dual Referral Rules House
13.5.1 >= $100,000 Annual Fiscal Cost {S & H} 6.8(F)(1) >= $100,000 SGF Fiscal Cost {H & S}
Michael G. Battle
13.5.2 >= $500,000 Annual Tax or Fee 6.8(G) >= $500,000 Tax or Fee Increase
Change {S & H} or a Net Fee Decrease {S} Manager, Advisory Services


Statutes affected:
HB73 Original: 33:49(H)(1)
HB73 Engrossed: 33:49(H)(1)