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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
Regular Session, 2011
SENATE BILL NO. 215
BY SENATOR MORRELL
FUNDS/FUNDING. Allocates a percentage of certain fees to the LA Mega-Project
Development Fund. (8/15/11)
AN ACT1
To amend and reenact R.S. 49:222(B)(3) and R.S. 51:2365(B), (D)(1), and (E), and to enact2
R.S. 51:2365(F)(3) and (H), relative to special funds; to provide for the allocation3
and deposit of certain fees collected from certain filings to the LA Mega-Project4
Development Fund; to provide financial assistance for certain Louisiana-based5
businesses from the fund; to provide terms, conditions, and requirements; to provide6
rulemaking authority; and to provide for related matters.7
Be it enacted by the Legislature of Louisiana:8
Section 1. R.S. 49:222(B)(3) is hereby amended and reenacted to read as follows: 9
§222. Fees chargeable by secretary of state 10
* * *11
B. The secretary of state is authorized to collect the following fees:12
* * *13
(3) Foreign corporations and limited liability companies. (a) One hundred14
dollars for filing and recording applications for authority on corporations, amended15
applications, withdrawal proceedings, termination of withdrawal proceedings,16
reinstatement proceedings, merger proceedings, and certificates of correction. Fifty17 SB NO. 215
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percent of the revenues derived from each filing shall be allocated and deposited1
into the Louisiana Mega-Project Development Fund, as provided for in R. S.2
51:2365.3
* * *4
Section 2. R.S. 51:2365(B), (D)(1), and (E) are hereby amended and reenacted and5
R.S. 51:2365(F)(3) and (H) are hereby enacted to read as follows:6
§2365. Louisiana Mega-Project Development Fund7
* * *8
B. The state treasurer is hereby authorized and directed to transfer one9
hundred fifty million dollars from the Louisiana Economic and Port Development10
Infrastructure Fund to the Louisiana Mega-Project Development Fund on June 29,11
2007. The legislature may appropriate additional monies to the fund if it deems12
necessary to accomplish the purposes of the fund. Revenues shall also be13
deposited in the fund as set forth in R.S. 49:222(B)(3).14
* * *15
D.(1) Monies in the fund shall be available for appropriation for general16
purposes and for use by the Department of Economic Development, hereinafter17
referred to as the "department". Such appropriations shall be used by the secretary18
of the department for immediate funding of all or a portion of economic development19
mega-projects which may be necessary in order to successfully secure the creation20
or retention of jobs by a business entity under such circumstances as established by21
this Part and for assistance to affected Louisiana-based businesses.22
* * *23
E. Monies in the fund shall be expended only upon recommendation by the24
legislature, the secretary and concurrence by the governor. Any such25
recommendation shall be implemented pursuant to a cooperative endeavor agreement26
executed in accordance with the provisions of R.S. 33:9029.2 and subject to approval27
by the Joint Legislative Committee on the Budget.28
F.(1) For purposes of this Section, "mega-project" means:29 SB NO. 215
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* * *1
(3) For the purposes of this Section, "affected Louisiana-based business"2
means a business that:3
(a) Operates primarily in Louisiana or performs substantially all of its4
production in Louisiana, or is headquartered in Louisiana with a substantial5
portion of its assets located in Louisiana, and is involved in commerce for the6
purpose of retail, or the manufacturing, processing, or assembling of products,7
or conducting research and development, or providing services.8
(b) Has at least eighty percent of its total employees domiciled in the9
state of Louisiana and that at least eighty percent of its payroll paid to such10
employees.11
(c) Is in need of financial assistance due to being negatively impacted by12
a manmade or natural disaster in which a declaration of a state of emergency13
has been issued by the executive branch of state government.14
* * *15
H. The department shall adopt rules in accordance with the provisions16
of the Administrative Procedure Act for the procedures for applications for17
assistance by affected Louisiana-based businesses.18
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by Cathy Wells.
DIGEST
Present law authorizes the secretary of state to collect a fee of $100 for filing and recording
applications on corporations, amended applications, withdrawal proceedings, termination
of withdrawal proceedings, reinstatement proceedings, merger proceedings, and certificates
of correction by foreign corporations and limited liability companies.
Proposed law retains present law and requires that 50% of the revenues derived from each
filing be allocated and deposited into the Louisiana Mega-Project Development Fund.
Present law creates and provides relative to the Louisiana Mega-Project Development Fund.
Proposed law requires monies in the fund be available for appropriation for assistance to
affected LA-based businesses.
Present law provides that monies in the fund be expended only upon recommendation by the
secretary of DED and concurrence by the governor. SB NO. 215
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
Proposed law retains present law and adds that the legislature must also recommend
expenditure of monies in the funds.
Proposed law defines "affected LA-based businesses" as a business that:
(a)Operates primarily in LA or performs substantially all of its production in Louisiana
or is headquartered in LA with a substantial portion of its assets located in LA, and
is involved in commerce for the purpose of retail, or the manufacturing, processing,
or assembling of products, or conducting research and development, or providing
services.
(b)Has at least 80% of its total employees domiciled in the state and that at least 80%
of its payroll is paid to such employees.
(c)Is in need of financial assistance due to being negatively impacted by a manmade or
natural disaster as declared by a state of emergency issued by the executive branch
of state government.
Proposed law requires DED to adopt rules in accordance with the APA for the procedures
for applications for assistance by affected LA-based businesses.
Effective August 15, 2011.
(Amends R.S. 49:222(B)(3) and RS 51:2365(B)(D)(1) and (E); Adds R.S. 51:2365(F)(3) and
(H))