Bill > HB624

This bill creates the Evangeline Economic Development Authority in Evangeline Parish, Louisiana. The authority is a political subdivision of the state established for the purpose of performing economic and industrial development functions, such as public relations, financial assistance, and coordinating development efforts. The authority is governed by an 11-member board appointed by various local entities, including municipalities, the parish government, the school board, and community organizations. The authority has the power to levy up to a 1% sales and use tax within its boundaries, subject to voter approval, and to utilize tax increment financing to fund development projects. The authority is set to dissolve one year after all of its debt is paid off, but no sooner than 3 years from the effective date of the law.