§ 33:9033 — Sales tax increment financing

§9033. Sales tax increment financing
A. A local governmental subdivision may issue revenue bonds payable solely from
an irrevocable pledge and dedication of up to the full amount of sales tax increments, in an
amount to be determined by the local governmental subdivision, to finance or refinance an
economic development project or any part thereof or to pay all or a portion of the costs of an
economic development project as specified in R.S. 33:9035. A sales tax increment shall
consist of that portion of sales tax revenues for any or all taxing authorities, except for the
state of Louisiana and any political subdivision whose boundaries are coterminous with the
state of Louisiana, collected each year on the sale at retail, the use, the lease or rental, the
consumption and storage for use or consumption of tangible personal property, and on sales
of services, all as defined in R.S. 47:301 et seq., or any other appropriate provision or
provisions of law as amended, from taxpayers located within an economic development area
which exceeds the sales tax revenues that were collected for such taxing authority in the year
immediately prior to the year in which the area was designated as an economic development
area. Dedication of sales tax increments to pay the revenue bonds shall not impair existing
obligations and shall not include tax revenues previously dedicated for a special purpose.
B. Notwithstanding the provisions of Subsection A of this Section, the prohibition
regarding the use of state sales tax increments for purposes of sales tax increment financing
shall not apply to:
(1) An economic development project that was approved by the Joint Legislative
Committee on the Budget before April 1, 1995, or any expansion of the project scope or
extension of the use of the state sales tax for such economic development project.
(2) An economic development program that was acted upon by resolution or
ordinance of a local governmental subdivision before June 1, 1995, and submitted for
approval in writing to the Joint Legislative Committee on the Budget before July 1, 1995, or
any expansion of the project scope or extension of the use of the state sales tax for such
economic development program.
(3) Any expansion of the project scope or extension of the use of the state sales tax
for an economic development project or program for which the state sales tax increment was
initially authorized and approved by the Joint Legislative Committee on the Budget before
July 1, 1997, and, as expanded or extended through subsequent approvals by that committee,
did not expire on or before August 1, 2019, provided that the state sales tax increment shall
not be extended beyond December 31, 2048.
NOTE: See Acts 1995, No. 1118, §2 relative to legislative intent.
NOTE: See Acts 2006, Nos. 240 and 435, amending Acts 1995, No. 1118,
§2, relative to interpretation and application of the prohibition regarding use
of sales tax increments of the state or a political subdivision with coterminous
boundaries to those of the state for tax increment financing as provided in
R.S. 33:9033.
NOTE: Acts 2019, No. 405, §2 provides that Acts 2019, No. 405 does not supercede
Acts 2006, No. 435.

Legislative History

Acts 1990, No. 1082, §1; Acts 1995, No. 1118, §1, eff. June 29, 1995; Acts 2019, No. 405, §1; Acts 2023, No. 77, §1.