Baton Rouge, La. (October 15, 2020) – Today, the Baton Rouge Area Chamber (BRAC) announced supportive positions on Amendments 3, 5, and 7, as well as the Sports Wagering Proposition that will appear on the November 3 statewide ballot. BRAC is neutral on the other amendments. Early voting begins October 16 and BRAC encourages voters to support these amendments.
As the Capital Region’s lead economic development organization and as an advocacy voice for the business community, BRAC has long supported policies that positively impact economic competitiveness and quality of life in the Capital Region.
- SUPPORT: Constitutional Amendment 3 allows the Budget Stabilization Fund to be tapped during a federally declared disaster. This will allow the state to use the available funds to cover the cost of responding to disasters until the time the state is reimbursed by the federal government. This will allow for more flexibility in the state budget when disasters strike.
- SUPPORT: Constitutional Amendment 5 allows PILOT (Payments in Lieu of Taxes) agreements between manufacturers and local governments. It gives local governments an additional tool for incentivizing business investment while giving local governments the ability to receive payments upfront to address immediate needs. Other states use PILOTs successfully to encourage investment and provide certainty to locals and businesses.
- SUPPORT: Constitutional Amendment 7 creates a new fund to safeguard unclaimed property while producing revenue for the state. The fund would safeguard money for unclaimed property while generating interest that can be used in the state general fund. This amendment creates revenue for the state with no additional taxes.
- SUPPORT: Sports Wagering Proposition allows for sports wagering in the parishes that approve the measure. This will allow the state to capitalize on activity that already exists and attract tourists away from states where this is currently legal.
“These measures will help promote economic growth throughout the state and protect the state’s finances during times of uncertainty,” said Adam Knapp president and CEO of BRAC.
For more information about these and other statewide proposals on the November 3 ballot, BRAC encourages voters to review PAR’s Guide to the 2020 Constitutional Amendments.
About the Baton Rouge Area Chamber
The Baton Rouge Area Chamber (BRAC) leads economic development in the nine-parish Baton Rouge Area, working to grow jobs and wealth and to improve the business climate and competitiveness in the region. Today, BRAC investors include more than 1,400 small businesses, mid-sized firms, large industry and entrepreneurial startups, as well as individuals and organizations that support business and economic development. In this capacity, BRAC serves as the voice of the business community, providing knowledge, access, services and advocacy. More information is available at brac.org.