ENROLLED
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ACT No. 498
Regular Session, 2012
HOUSE BILL NO. 507
BY REPRESENTATIVES PONTI, ADAMS, BARROW, BERTHELOT, BROADWATER,
BROWN, HENRY BURNS, BURRELL, COX, CROMER, GAROFALO,
GISCLAIR, HENSGENS, HUNTER, KATRI NA JACKSON, JAMES,
JEFFERSON, LIGI, LORUSSO, NORTON, PRICE, REYNOLDS,
SCHEXNAYDER, AND WHI TNEY
AN ACT1
To amend and reenact R.S. 39:2006(A)(4) and 2176(A)(4), relative to small businesses; to2
increase the maximum gross receipts threshold for small businesses applying to the3
Louisiana Initiative for Small Entrepreneurships (Hudson Initiative); to increase the4
maximum gross receipts threshold for small businesses applying to the Louisiana5
Initiative for Veteran and Service-Connected Disabled Veteran-Owned Small6
Entrepreneurships (Veteran Initiative); to provide for an effective date; and to7
provide for related matters.8
Be it enacted by the Legislature of Louisiana:9
Section 1. R.S. 39:2006(A)(4) and 2176(A)(4) are hereby amended and reenacted10
to read as follows: 11
§2006. Certification of businesses by Department of Economic Development;12
listing of small entrepreneurships; reporting13
A. The secretary of the Department of Economic Development, hereinafter14
the "department", shall certify businesses as small entrepreneurships for the purposes15
of this Chapter. "Small entrepreneurship" means any corporation, partnership,16
individual, sole proprietorship, joint stock company, joint venture, or any other legal17
entity which meets all of the following criteria:18
* * *19
(4) Together with any of its affiliate entities, has fewer than fifty full-time20
employees with average annual gross receipts not exceeding five ten million dollars21 ENROLLEDHB NO. 507
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per year for construction operations and three five million dollars per year for non-1
construction nonconstruction operations, for each of the previous three tax years.2
* * *3
§2176. Certification of businesses by Department of Economic Development;4
listing of veteran and service-connected disabled veteran-owned small5
entrepreneurships; reporting6
A. The secretary of the Department of Economic Development, hereinafter7
referred to in this Section as the "department", shall certify businesses as veteran and8
service-connected disabled veteran-owned small entrepreneurships for the purposes9
of this Chapter. "Veteran-owned small entrepreneurship" and "service-connected10
disabled veteran-owned small entrepreneurship" means any corporation, partnership,11
individual, sole proprietorship, joint stock company, joint venture, or any other legal12
entity which meets all of the following criteria:13
* * *14
(4) Together with any of its affiliate entities, has fewer than fifty full-time15
employees with average annual gross receipts not exceeding five ten million dollars16
per year for construction operations and three five million dollars per year for17
nonconstruction operations, for each of the previous three tax years.18
* * *19
Section 2. This Act shall become effective upon signature by the governor or, if not20
signed by the governor, upon expiration of the time for bills to become law without signature21
by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana. If22
vetoed by the governor and subsequently approved by the legislature, this Act shall become23
effective on the day following such approval.24
SPEAKER OF THE HOUSE OF REPRESENTATI VES
PRESIDENT OF THE SENATE
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED: