Requests the Department of Economic Development to study and report on commercial activities by state-owned companies or organizations based in and subsidized by certain foreign governments and requests the state treasurer to certify that no public funds are used to support commercial activities in certain foreign governments
Impact
The proposed study aims to inform the legislature about the economic implications of allowing state-owned companies from communist countries to operate in Louisiana. By examining the repercussions on local industries and businesses, including the chemical and shellfish sectors critical to the state's economy, the resolution seeks to protect Louisiana's economic interests and uphold its standards of fair competition. The assessment is expected to promote awareness about intellectual property concerns and the long-term viability of local businesses in the face of foreign competition that does not operate under the same economic principles as those domestically.
Summary
HCR99 is a concurrent resolution from the Louisiana Legislature that requests the Department of Economic Development to study the effects of predatory investments and unfair trade practices by companies that are state-owned or subsidized by communist countries. The bill's intent is to scrutinize the impact these companies have on Louisiana's existing industries, including worker safety, employment, and competition, ensuring that local businesses are not adversely affected. Additionally, the resolution calls for the state treasurer to certify that no state funds have been allocated to support these companies, highlighting the seriousness of economic security concerns related to international relations and trade.
Sentiment
General sentiment surrounding HCR99 appears to be cautious with a focus on safeguarding Louisiana's economic future. Supporters of the resolution advocate for awareness over potential threats posed by these foreign entities, arguing that a thorough investigation will help prevent potential harm to the state's economy. Conversely, there might be concerns among opponents regarding the implications of categorizing all state-owned companies based on their country of origin, potentially complicating relationships with foreign investors who contribute positively to local economies.
Contention
While HCR99 primarily calls for a study rather than imposing immediate restrictions, notable contention could arise regarding the classification of investments and the determination of what constitutes predatory practices by foreign companies. Additionally, the resolution raises questions about how to balance economic growth through foreign investments while ensuring that local businesses are not undermined. The effectiveness and objectivity of the Department of Economic Development's findings will be closely scrutinized, particularly if the study leads to recommendations that restrict investment from specific nations.
Requests the Department of Economic Development to study and report on commercial activities by state-owned companies or organizations in and subsidized by certain foreign governments and requests the state treasurer to certify that no public funds are used to support commercial activities in foreign governments
Requesting The Department Of Business, Economic Development, And Tourism To Promote The Use Of Albizia In Commercial Products By Establishing A Grant Program And Conducting A Study.
Requesting The Department Of Business, Economic Development, And Tourism To Promote The Use Of Albizia In Commercial Products By Establishing A Grant Program And Conducting A Study.
Authorizes and requests the Department of Insurance to work with insurers and commercial freight companies to develop a good driver discount option for drivers with newly issued commercial driver's licenses
Requests the Department of Economic Development and the State Board of Commerce and Industry to suspend certain tax incentives, subsidies, and other public financial support for certain utility scale solar projects
Relating to public contracts; to prohibit governmental entities from entering into certain contracts with companies that boycott businesses because the business engages in certain sectors or does not meet certain environmental or corporate governance standards or does not facilitate certain activities; to provide that no company in the state shall be required by a governmental entity, nor penalized by a governmental entity for declining to engage in economic boycotts or other actions that further social, political, or ideological interests; to require the Attorney General to take actions to prevent federal laws or actions from penalizing, inflicting harm on, limiting commercial relations with, or changing or limiting the activities of companies or residents of the state based on the furtherance of economic boycott criteria; and to authorize the Attorney General to investigate and enforce this act; and to provide definitions.
Urges and requests the Department of Transportation and Development to study the implementation of an annual review process requiring an annual training and review of state laws and federal regulations by commercial vehicle companies
Urges and requests the Louisiana Department of Health and other parties to study jointly the language in the Louisiana Code of Criminal Procedure Article 648
Requests the Department of Revenue and the Department of Natural Resources, in consultation with the Legislative Auditor, to take all action necessary to collect oil and gas severance tax and mineral royalties and to establish procedures to verify the accuracy of payments and refunds thereof, all to be monitored by the Legislative Auditor and reported to the legislature. (OR1 SEE FISC NOTE GF RV)