ENROLLED
Page 1 of 2
CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
Regular Session, 2010
HOUSE BILL NO. 553
BY REPRESENTATIVE WADDELL
AN ACT1
To enact R.S. 51:2362 and 2366, relative to the Louisiana Mega-Project Development Fund2
and the Rapid Response Fund; to require the development of uniform accountability3
reports for the funds; to require written and electronic forms of a list of cooperative4
endeavor agreements, name of receiving entity, and the amount of incentive awarded5
for all projects developed by the funds; and to provide for related matters.6
Be it enacted by the Legislature of Louisiana:7
Section 1. R.S. 51:2362 and 2366 are hereby enacted to read as follows: 8
§2362. Accountability requirements 9
A. The secretary of the Department of Economic Development shall develop10
a uniform accountability report for economic development created by the Rapid11
Response Fund. The secretary shall also develop a formula for measuring the return12
on investment for each Rapid Response Fund project.13
B. The Department of Economic Development shall compile and make14
available a list of the cooperative endeavor agreements, the name of the entity15
receiving funds, and the amount of the incentive received for all Rapid Response16
Fund projects in both written and electronic form.17
* * *18
§2366. Accountability requirements19
A. The secretary of the Department of Economic Development shall develop20
a uniform accountability report for economic development created by the Louisiana21
Mega-Project Development Fund. The secretary shall also develop a formula for22
measuring the return on investment for each mega-project.23 ENROLLEDHB NO. 553
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
B. The Department of Economic Development shall compile and make1
available a list of the cooperative endeavor agreements, the name of the entity2
receiving funds, and the amount of the incentive received for all Louisiana Mega-3
Project Development Fund projects in both written and electronic form.4
Section 2. This Act shall become effective January 1, 2011.5
SPEAKER OF THE HOUSE OF REPRESENTATI VES
PRESIDENT OF THE SENATE
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED: