SPECIAL DISTRICTS: Provides for the University of Louisiana at Lafayette Economic Development District. (8/1/24) (EN SEE FISC NOTE LF RV See Note)

This bill creates the University of Louisiana at Lafayette Economic Development District in Lafayette, Louisiana, to foster cooperative economic and community growth between the university, the city, the parish, and the state. The new district will have the authority to levy taxes and special assessments, engage in debt financing, and utilize tax increment financing to fund projects within its defined boundaries. By establishing this political subdivision, the legislation enables the university and local government entities to work together on development initiatives using specific financial tools designed to stimulate the local economy.