RDCSB162 3862 3075
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)]
SB 162 Reengrossed 2021 Regular Session Henry
Present law establishes the Major Events Incentive Program and the Major Events Incentive
Program Subfund (subfund) in the state treasury as a special subfund in the Mega-Project
Development Fund.
Present law provides that beginning with the 2015-2016 Fiscal Year and for each fiscal year
thereafter, and after allocation of money to the Bond Security and Redemption Fund, the
treasurer shall transfer in and credit to the subfund the amount appropriated to the fund by
the legislature. Provides that in determining the amount of the annual appropriation to the
fund, the legislature shall consider the contracts which have been entered into pursuant to
present law as well as any recruitment efforts being made by the local organizing committee
for qualified events.
Present law provides that monies in the subfund shall be invested in the same manner as
monies in the Louisiana Mega-Project Development Fund and any interest earned on the
investment of monies in the subfund shall be credited to the subfund. Provides that all
unexpended and unencumbered monies in the subfund at the end of the fiscal year shall
remain in the subfund.
Present law provides that the secretary of the Department of Economic Development may
enter into a contract with a local organizing committee, endorsing parish, or endorsing
municipality to recruit, solicit, or acquire for Louisiana any qualified event that will have a
significant positive impact on economic development in the state. Provides that the contract
shall provide for a financial commitment to the local organizing committee, endorsing
parish, or endorsing municipality which shall be subject to legislative appropriation.
Provides that prior to executing the contract, the secretary shall obtain the approval of the
commissioner of administration and the Joint Legislative Committee on the Budget.
Present law authorizes the Joint Legislative Committee on the Budget to meet in executive
session pursuant to the procedures and requirements of R.S. 42:18 when the members have
reason to believe that the discussion at such meeting may otherwise result in the public
disclosure of information which may negatively impact the ability of the local organizing
committee, endorsing parish, or endorsing municipality to recruit, solicit, or acquire for
Louisiana any qualified event.
Requires that the treasurer disburse monies to an eligible entity only in accordance with a
legislative appropriation.
Present law provides that an event not included in the definition of qualified event is
ineligible for funding. Provides that a qualified major event may receive funding only if such
event meets either of the following conditions:
(1)After considering through a highly competitive selection process one or more sites
that are not located in this state, a site selection organization selects a site located in
this state for an event to be held once, or for an event scheduled to be held annually
for a period of years under an event contract.
(2)A site selection organization selects a site in this state as the sole site for the event.
(3)The event is held not more frequently than annually.
Proposed law retains present law.
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Present law provides that "qualified event" or "qualified major event" includes a National
Collegiate Athletic Association Division I Football Bowl Subdivision postseason playoff or
championship game.
Proposed law deletes "playoff or championship" to provide that qualified event includes a
National Collegiate Athletic Association Division I Football Bowl Subdivision postseason
game.
Proposed law provides the monies in the Major Events Incentive Program Subfund shall be
appropriated and used to provide funding for entities within the state for the costs associated
with attracting, hosting, and staging major events of area-wide, statewide, regional, national,
or international prominence only with prior approval of JLCB.
Effective August 1, 2021.
(Amends R.S. 51:2365.1(A)(5); Adds R.S. 51:2365.1(B)(4))
Summary of Amendments Adopted by Senate
Senate Floor Amendments to engrossed bill
1. Provides relative to how the monies in the Major Events Incentive Program
Subfund shall be appropriated and used.
2. Requires approval of JLCB.
Summary of Amendments Adopted by House
The Committee Amendments Proposed by House Committee on Appropriations to the
reengrossed bill:
1. Make technical changes.
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