Louisiana House Bill HB787

Louisiana 2010 Regular Session

• Introduced: 3/29/10
• Refer: 3/29/10
• Report Pass: 5/27/10
• Engrossed: 6/7/10
• Refer: 6/9/10
• Report Pass: 6/16/10
• Enrolled: 6/21/10
• Chaptered: 6/25/10
• Passed: 6/25/10

Caption

Provides for the transfer and deposit of monies among state funds (EN SEE FISC NOTE GF RV See Note)

Impact

The bill's provisions significantly modify the way state funds are allocated and appropriated. Specifically, it stipulates conditions under which money can be deposited into the Budget Stabilization Fund, limiting appropriations to avoid excessive balances. Furthermore, the establishment of the Louisiana Filmmakers Grant Fund emphasizes support for local filmmakers, granting financial aid based on specific project criteria. This may lead to increased filmmaking activities in Louisiana, promoting both tourism and local business opportunities.

Summary

House Bill 787 authorizes the transfer and deposit of funds among various state funds, impacting how the state manages its revenue and economic development resources. Key provisions include adjustments to the Budget Stabilization Fund, changes to the administration of the Louisiana Filmmakers Grant Program, and new requirements for legislative notice on economic development projects. The bill aims to streamline funding processes and support local filmmaking, potentially enhancing job creation within the state’s entertainment sector.

Sentiment

General sentiment regarding HB 787 is largely supportive among those involved in the arts and local film industry, viewing the funding as a step forward for the creative sector in Louisiana. However, there are concerns regarding the implications of stringent controls on fund distributions which may hinder rapid responses to economic opportunities. While proponents celebrate the focus on filmmakers and economic development, critics caution against potential bureaucratic delays in accessing the funds.

Contention

Notable points of contention arise around the mechanisms for funding allocations and the balance between state control and local empowerment. The bill's requirement for legislative notice concerning economic development projects, while aimed at enhancing transparency, also raises concerns about the efficiency of funding for time-sensitive projects. There is a caution that the increased regulatory framework could dilute the agility needed to capitalize on economic opportunities.