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LA SB374
Bill
Status
2/27/2026
Primary Sponsor
Stewart Cathey
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AI Summary
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Creates a uniform procedure for establishing college economic development districts for University of Louisiana System institutions, requiring adoption of an ordinance by the local governing authority (municipality or parish)
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Establishes a 5-member board of commissioners to govern each district, chaired by the college's highest executive officer who also appoints four additional members, with two members required to represent businesses within the district
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Grants districts authority to levy taxes (up to 5 mills ad valorem, 2% sales tax, 2% hotel occupancy tax) subject to voter approval, issue bonds, incur debt, and utilize tax increment financing for economic development projects
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Exempts industrial entities from district taxes and assessments, including manufacturing, refining, processing, power generation, and related activities
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Districts automatically dissolve upon the later of either one year after all debt is paid in full or 50 years from creation
Legislative Description
Provides for uniform procedure for the creation of college economic development districts for the University of Louisiana System in any municipality or parish. (gov sig)
UNIVERSITY LA SYSTEM
Last Action
Introduced in the Senate; read by title. Rules suspended. Read second time and referred to the Committee on Education.
3/9/2026