DISTRICTS/ECONOMIC DEVEL: Provides relative to New Orleans Exhibition Hall Authority Economic Growth and Development District

HB 270 modifies tax rules for the New Orleans Exhibition Hall Authority Economic Growth and Development District. It allows the district to designate properties within its area as "economic development projects" where lessees must pay annual payments in lieu of property taxes (PILOT) instead of standard taxes, capped at the equivalent tax amount. Projects must create at least 10 permanent jobs per parcel and 75 affordable housing units (priced per HUD standards) for 30 years. The city council must review and approve these PILOT agreements within 45 days before they become effective.