ENROLLED
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
ACT No. 350
Regular Session, 2014
HOUSE BILL NO. 994
BY REPRESENTATIVE PONTI
AN ACT1
To amend and reenact R.S. 51:2395(A)(7), relative to the Louisiana Business and Industrial2
Development Company Act; to provide an exception for certain financing3
requirements of entities licensed in this state to transact business as a business and4
industrial development company; and to provide for related matters.5
Be it enacted by the Legislature of Louisiana:6
Section 1. R.S. 51:2395(A)(7) is hereby amended and reenacted to read as follows:7
ยง2395. Transaction of business8
A.9
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(7) Unless approved by the commissioner, the total amount of financing11
assistance provided by a licensee outside of this state shall not exceed fifty percent12
of the total financing assistance provided by such licensee on a cumulative basis.13
The limitation of this Subsection shall not apply to a licensee that has complied with14
both of the following:15
(a) Provided financing assistance in this state in excess of one hundred16
million dollars. A licensee may count financing assistance provided by a licensed17
affiliate or licensed affiliates in this state towards the satisfaction of the requirements18
of this Subparagraph.19 ENROLLEDHB NO. 994
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(b) Held a license for at least ten years.1
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SPEAKER OF THE HOUSE OF REPRESENTATI VES
PRESIDENT OF THE SENATE
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED: