SLS 11RS-607 ORIGINAL
Page 1 of 2
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. 263
BY SENATOR CHAISSON
ECONOMIC DEVELOPMENT. Authorizes the Department of Economic Development to
create and administer a Louisiana Asset Manager Program (LA AMP). (1/1/12)
AN ACT1
To enact R.S. 51:2304, relative to tax credits and exemptions; to authorize the creation of2
the Louisiana Asset Manager Program and provide for its implementation and3
administration; and to provide for related matters.4
Be it enacted by the Legislature of Louisiana:5
Section 1. R.S. 51:2304 is hereby enacted to read as follows: 6
ยง2304. The Louisiana Asset Manager Program (LA AMP) 7
A. Purpose. The Legislature of Louisiana hereby finds that Louisiana8
is currently challenged by a lack of private capital, especially early-stage9
investment activity. According to the latest reports, the state ranks forty-first10
in the country on a GDP-adjusted basis. The lack of funding suppresses11
start-up activity, hinders the growth of businesses, and causes successful,12
growing companies and successful, entrepreneurial individuals to look outside13
the state for expansion and success. Therefore, the Department of Economic14
Development is hereby authorized to create the Louisiana Asset Manager15
Program (LA AMP) to address this challenge by making Louisiana the16
preferred state in the nation in which to locate a venture capital fund or other17 SB NO. 263
SLS 11RS-607 ORIGINAL
Page 2 of 2
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
asset management company, catalyzing the development of a local asset1
management industry, which will then provide the capital to fuel the growth of2
Louisiana companies - and attract new individuals - creating new jobs and3
revenue for the state.4
B. Program. The Department of Economic Development may initiate,5
implement, and administer a Louisiana Asset Manager Program (LA AMP)6
which may provide tax exemption, tax credit, and other tax incentives to7
qualified asset management companies that make venture capital investments8
in Louisiana businesses.9
Section 2. This Act shall become effective on January 1, 2012.10
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by Riley Boudreaux.
DIGEST
Proposed law authorizes the Department of Economic Development to initiate, implement,
and administer a Louisiana Asset Manager Program (LA AMP) which may provide tax
exemption, tax credit, and other tax incentives to qualified asset management companies that
make venture capital investments in Louisiana businesses.
Effective January 1, 2012.
(Adds R.S. 51:2304)