Louisiana Revised Statutes 33:9038.40 – Initial creation of district
Terms Used In Louisiana Revised Statutes 33:9038.40
- Baseline: Projection of the receipts, outlays, and other budget amounts that would ensue in the future without any change in existing policy. Baseline projections are used to gauge the extent to which proposed legislation, if enacted into law, would alter current spending and revenue levels.
- district: means an economic development district established by a local governmental subdivision pursuant to La. See Louisiana Revised Statutes 33:9038.31
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Local governmental subdivision: means any municipality or parish or any municipality, parish, local industrial board, a local public trust authorized pursuant to La. See Louisiana Revised Statutes 33:9038.31
Notwithstanding any other provision of law to the contrary, with respect to the initial creation of a district within a jurisdiction pursuant to the provisions of this Part, the annual baseline collection rate for the area for all purposes may, at the option of the entity creating the district, be the amount of applicable taxes collected in the district set forth in an ordinance (1) in the fiscal year of the local governmental subdivision most recently completed prior to the establishment of the area, (2) the average applicable taxes collected in the district for the two fiscal year periods most recently completed prior to the establishment of the area, or (3) the average applicable taxes collected in the district for the three fiscal year periods most recently completed prior to the establishment of the area.
Acts 2003, No. 739, §1, eff. July 1, 2003; Acts 2006, No. 850, §4, eff. July 11, 2006.