Current with changes from the 2024 legislative session effective on or before 7/1/2024, from Acts 1-3, 6-671
Section 33:2759 - [See Note] Cooperative endeavor agreements authorizing payments in lieu of ad valorem taxesA.(1) One or more local governmental subdivisions or any other entities having ad valorem taxing authority may enter into a joint or separate cooperative endeavor agreement that provides for payments in lieu of ad valorem taxes imposed by the taxing authority that is a party to the cooperative endeavor agreement, with owners of property eligible for the property tax exemption provided for manufacturing establishments as described in Article VII, Section 21(F) of the Constitution of Louisiana.(2) The cooperative endeavor agreement shall apply only to taxing authorities that are parties to the agreement. A nonparticipating taxing authority shall not be bound by the agreement and its ad valorem taxes shall continue to be billed and collected without regard to the provisions of this Section.(3) The assessor for the parish where the property subject to the proposed cooperative endeavor agreement is located shall be consulted in connection with the negotiation of terms of the cooperative endeavor agreement.(4) The property owner requesting to participate in payments in lieu of taxes shall provide a copy of the proposed cooperative endeavor agreement and all other relevant information to the Department of Economic Development for review. The property owner shall receive a written summary of the estimated direct, indirect, and induced economic impacts of the project from the Department of Economic Development prior to scheduling any public hearing.(5) Prior to granting approval for a taxing authority to enter into a cooperative endeavor agreement, a public hearing shall be conducted by the parish and municipal governing authorities, the school board, and the sheriff. Notice of the hearing shall be published in the official journal of the applicable taxing authority at least once, no later than fourteen days prior to the hearing, or if there is no official journal, in a newspaper having general circulation in the parish. The notice shall inform the public where a copy of the proposed cooperative endeavor agreement may be obtained and the time and place of the hearing.(6) Prior to a participating taxing authority executing a cooperative endeavor agreement for a payment in lieu of taxes, the cooperative endeavor agreement shall be approved by the following: (a) The parish governing authority representing the parish and all parish taxing authorities located outside the boundary of any municipality that receives a millage, evidenced by a resolution.(b) The school board, evidenced by a resolution.(c) The municipal governing authority, representing municipalities and all municipal taxing authorities that receive a millage, evidenced by a resolution.(d) The sheriff, evidenced by a letter.B. Any property subject to a cooperative endeavor agreement that requires payments in lieu of ad valorem taxes shall be exempt from ad valorem taxation during the term or terms of the cooperative endeavor agreement, and to the extent provided for in the cooperative endeavor agreement, as authorized under Article VII, Section 21(O) of the Constitution of Louisiana. Cooperative endeavor agreements entered into pursuant to this Section shall be for a term of not more than twenty-five years. Any cooperative endeavor agreement entered into that requires payments in lieu of ad valorem taxes may provide for a reduction in ad valorem taxes. All property exempted shall be listed on the assessment rolls and such information shall be submitted to the Louisiana Tax Commission.C. Except as otherwise provided in this Section, property that has been subject to a contract of exemption as provided in Article VII, Section 21(F) of the Constitution of Louisiana shall be ineligible for a cooperative endeavor agreement that requires payments in lieu of ad valorem taxes. Notwithstanding the foregoing, an ad valorem taxing authority may negotiate and enter into a cooperative endeavor agreement with a property owner for payments in lieu of ad valorem taxes during the first four years of a contract of exemption allowed by Article VII, Section 21(F) of the Constitution of Louisiana as set forth in this Section. Any cooperative endeavor agreement negotiated during the first four years of a contract of exemption shall require the property owner to pay an amount specified in the cooperative endeavor agreement to offset the abatement of ad valorem taxes that was permitted during the time the property was subject to a contract of exemption as provided in Article VII, Section 21(F) of the Constitution of Louisiana.D. Payment obligations, transferability, collection procedures that may include the designation of a collector, and any other matters relating to the payment and collection of payments made in lieu of ad valorem taxes shall be set forth in the cooperative endeavor agreement authorized by this Section.E. In order to provide a uniform, expeditious, and equitable procedure to determine the validity of a cooperative endeavor agreement authorized under this Section, as well as any transaction contemplated thereby, a suit to determine the validity of an agreement may be filed as provided in R.S. 13:5121 et seq., in the district court having jurisdiction for any party to the agreement in the same manner and as though the agreement constitutes an issuance of bonds by the taxing authority.F. As used in this Section, "manufacturing establishment" means a new plant or establishment or an addition or additions to any existing plant or establishment that engages in the business of working raw materials into wares suitable for use or which gives new shapes, qualities, or combinations to matter that already has gone through some artificial process. Added by Acts 2020, No. 240,s. 1, eff. if and when the proposed amendment of Article VII, Section 21 of the Constitution of Louisiana contained in the Act which originated as Senate Bill No. 272 of this 2020 Regular Session of the Legislature is adopted at a statewide election and becomes effective..This section is set out twice. See also La. R.S. § 33:27592, as amended by Acts 2020EX1, No. 18,s. 1, eff. if and when the Act that originated as Senate Bill No. 396 of the 2020 Regular Session of the legislature is enacted and becomes operative..