ENROLLED
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
ACT No. 383Regular Session, 2010
HOUSE BILL NO. 559
BY REPRESENTATIVE WADDELL
AN ACT1
To enact R.S. 51:2362, relative to the Rapid Response Fund; to provide for mandatory2
accountability requirements for each legal agreement involving Rapid Response3
Fund projects; to provide for exemptions; and to provide for related matters.4
Be it enacted by the Legislature of Louisiana:5
Section 1. R.S. 51:2362 is hereby enacted to read as follows: 6
ยง2362. Accountability requirements7
A. All legal agreements for Rapid Response Fund projects shall include all8
of the following:9
(1) A minimum number of direct, full-time created or retained jobs.10
(2) A specified time frame by which these job targets are to be achieved.11
(3) Minimum payroll requirements.12
(4) The total capital investment to be made by the receiving entity, if13
applicable.14
(5) A specified process by which all targets will be validated.15
(6) Required recoupment procedures for nonperformance.16
B. The provisions of this Section shall not apply to economic development17
projects in response to a disaster or emergency declared by the governor, or to18
project agreements with state, local, or federal governmental entities, including the19
military services.20 ENROLLEDHB NO. 559
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are additions.
Section 2. This Act shall become effective January 1, 2011.1
SPEAKER OF THE HOUSE OF REPRESENTATI VES
PRESIDENT OF THE SENATE
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED: