DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part of the
legislative instrument. The keyword, one-liner, abstract, and digest do not constitute part of the law
or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
HB 686 Original 2021 Regular Session Gary Carter
Abstract: Creates the Small Business Development Fund to use American Rescue Plan Act funds
to provide grants to small Louisiana entrepreneurships that are certified pursuant to the
Hudson Initiative and the Veteran Initiative.
Proposed law creates the Small Business Development Fund (fund) and directs the treasurer to
deposit $50 million of federal monies allocated to La. pursuant to the Coronavirus State Fiscal
Recovery Fund of the American Rescue Plan Act of 2021 into the fund.
Proposed law provides grants for business development and expansion for small Louisiana
entrepreneurships that are certified pursuant to present law (Hudson Initiative-R.S. 39:2001 et seq.
and the Veteran Initiative-R.S. 39:2171 et seq.).
Effective upon signature of governor or lapse of time for gubernatorial action.
(Adds R.S. 39:100.171)