Louisiana Senate Bill SB42

Louisiana 2022 Regular Session

• Introduced: 2/18/22
• Refer: 2/18/22
• Refer: 3/14/22

Caption

Re-creates Department of Economic Development. (6/30/22)

Impact

The passage of SB 42 is significant for Louisiana's economic landscape, as it safeguards the functions of the Department of Economic Development and its statutory entities until at least 2027. This long-term re-authorization is intended to promote stability in economic planning and policy implementation. The continued existence of the department is essential for the state to respond effectively to economic opportunities and challenges, promoting job creation, business development, and overall economic growth for Louisiana.

Summary

Senate Bill 42 aims to re-create the Department of Economic Development along with its associated statutory entities, thereby allowing them to continue operating effectively beyond the existing 'sunset' provisions that were set to end their authority. Specifically, the bill is designed to extend the operational period of the Department of Economic Development for an additional four years, effective June 30, 2022. By superseding certain stipulations of the sunset law, this bill allows the department to avoid an automatic termination that would otherwise occur in 2022, therefore ensuring that economic development initiatives can proceed without interruption.

Sentiment

The general sentiment around SB 42 appears to be supportive among legislators prioritizing economic stability and development. Advocates for the bill argue that re-creating the department is crucial for maintaining continuous support for businesses and economic initiatives, particularly in a post-pandemic recovery context. However, there may also be concerns voiced by critics regarding the efficacy of such departments and whether they adequately address the diverse needs of all communities within the state.

Contention

The main contention surrounding the bill revolves around the implications of extending legislative authority for the Department of Economic Development. While supporters advocate for streamlined operations and the avoidance of disruption in economic services, opponents may question the effectiveness and necessity of such governmental entities, as well as their ability to adapt to emerging economic challenges. Furthermore, discussions may arise regarding oversight and accountability for the use of resources allocated to the department over the extended period.