Louisiana House Bill HB773

Louisiana 2015 Regular Session

• Introduced: 4/3/15
• Refer: 4/3/15
• Refer: 4/13/15
• Report Pass: 4/15/15
• Engrossed: 5/21/15
• Refer: 5/25/15
• Report Pass: 5/27/15
• Refer: 5/28/15
• Refer: 6/2/15
• Report Pass: 6/6/15
• Enrolled: 6/9/15
• Chaptered: 6/29/15
• Passed: 6/29/15

Caption

Provides relative to fees assessed by the Department of Economic Development (EN +$1,900,000 SG RV See Note)

Impact

The impact of HB 773 is intended to enhance the efficiency of the DED by standardizing fee collection processes and ensuring that the funds collected are exclusively directed toward the administration of economic development programs. By establishing a dedicated fund known as the Entertainment Promotion and Marketing Fund, the bill seeks to promote and market Louisiana's entertainment industry effectively. Fees collected will contribute to the fund, allowing for legislative appropriation specifically for this purpose.

Summary

House Bill 773 amends and reenacts several statutes regarding fees assessed by the Louisiana Department of Economic Development (DED) related to incentive programs and financial assistance. It provides for a uniform authorized fee schedule and the ability to charge application fees for various programs. This bill aims to streamline the fee structures associated with economic development and ensure that costs incurred by administering such programs are adequately recovered.

Sentiment

The sentiment surrounding HB 773 appears to be generally positive among supporters who view the bill as a necessary step toward improving economic development initiatives within the state. The uniformity of fee structures is seen as a way to simplify processes for applicants and the Department alike. However, there may be some concerns regarding the financial burden that the increased fees could impose on small businesses seeking financial assistance, a point that critics may raise during discussions.

Contention

Notable points of contention include the specifics of the imposed fees, such as application fees ranging significantly based on the level of incentives being applied for, which could potentially create barriers for smaller businesses. Critics may argue that while the bill facilitates economic development, it must carefully balance between necessary fees and accessibility for local businesses. The implications of having a dedicated fund also raise questions about how effectively the collected revenue will be utilized and monitored.