Bill > HB480

This bill modifies the existing law governing the Caddo-Bossier Parishes Port Commission's authority to use the Payment In Lieu of Taxes (PILOT) program, which allows certain entities to make negotiated payments to local governments instead of paying standard property taxes. The bill requires that before implementing a PILOT program in either Caddo or Bossier Parish, the local governing authority must conduct a comprehensive evaluation and provide detailed documentation showing the property tax amounts that would be abated by each taxing entity. Furthermore, the bill mandates specific local approval for PILOT programs, stipulating that in Caddo Parish, the program must be approved by the Parish Sheriff, Parish Commission, and school board, while in Bossier Parish, approval is required from the Parish Sheriff, police jury, and school board. Additionally, the bill gives the state's Office of Economic Development a 45-day window to review and respond to proposed PILOT programs, during which they can submit either an approval or denial to the local governing authority. These provisions aim to increase transparency and local governmental oversight of tax abatement programs that could potentially reduce local tax revenues.

Transportation and Infrastructure

https://www.legis.la.gov/legis/BillInfo.aspx?s=25rs&b=HB480&sbi=y