Louisiana Revised Statutes Tit. 47, § 338.263. Tax authorization

A. The governing authorities of the parishes of St. Charles and St. John the Baptist, or parishes acting jointly or in cooperation with one or more parishes as provided in Article VI, Section 20 of the Constitution of Louisiana, are hereby authorized to levy a tax upon admission charges, concessions, and other sales of tangible personal property at motor vehicle speedway or racetrack facilities located within the parish, or parishes if such tax is levied in cooperation with other parishes. The tax shall be imposed by ordinance adopted by the parish or by each parish if the tax is levied in cooperation with one or more parishes. The tax shall not exceed two percent of admission charges, concession prices, or the price of other tangible personal property sold.

B. In order to effectively administer the tax authorized by this Section, the governing authority of the parish or parishes is authorized and empowered on its own initiative to form and create a district for the levy, collection, and administration of such tax.

C. The avails of any tax authorized by this Section shall be used solely and exclusively for infrastructure improvement projects, or to provide local matching funds for such projects, so as to facilitate the location of a speedway or racetrack facility within the parish or within the geographic boundary of the parishes if two or more parishes are acting jointly and in cooperation for such purpose. The parish or parishes, or any district formed by such parishes, may pledge the avails of such a tax to secure the payment of bonds or other evidences of indebtedness issued to fund the construction of infrastructure improvement projects including the payment of principal, interest, premiums, sinking funds, costs of issuance, and other costs or expenses associated thereon.