reglab/statecodes huggingface dataset:
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:2351. Legislative findings and purposes

RS 51:2351 - Legislative findings and purposes
A. The legislature finds that:
(1) The state is making investments in university research, but has no strategy for commercializing the resulting technologies.
(2) University professors often take their research and leave the state to create new companies and new jobs elsewhere, robbing the university of a creative and valued faculty member and the state of the ability to benefit from homegrown economic development potential.
B. This Part is intended to achieve the following purposes:
(1) To induce companies purchasing the rights to commercialize technology produced at a Louisiana university to locate and grow their businesses in Louisiana.
(2) To expand the economy of the state by enlarging its base of technology and research-based businesses.
(3) To enlarge the number of quality jobs available to an educated workforce to retain the presence of young people educated in Louisiana colleges and universities.
(4) To attract and retain the finest research faculty to Louisiana universities.
Acts 2002, 1st Ex. Sess., No. 8, §1, eff. July 1, 2002; Acts 2007, No. 401, §1, eff. July 10, 2007; Acts 2011, No. 416, §2, eff. July 1, 2011.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:2352. Definitions

RS 51:2352 - Definitions
In this Part, the following terms shall have the meanings provided in this Section, unless the context clearly requires otherwise:
(1) "Commercialization costs" means investment in machinery and equipment, all expenditures associated with obtaining the rights to use or the use of technology, including fees related to patents, copyrights, and licenses, payments to Louisiana universities for research agreements, and payments to third-party Louisiana research or clinical trial companies.
(2) "Machinery and equipment" means machinery or equipment that is a capital asset used in a trade or business subject to depreciation under federal tax law that is placed in service and used in Louisiana.
(3) "Taxpayer" means a natural person, business, corporation, or other business entity that seeks to or has become qualified to claim a credit on any income or corporation franchise tax liability against taxes owed to Louisiana.
(4) "Technology" means the product or intellectual property owned or research sponsored at a regionally accredited college, technical school, or university located in Louisiana or any product or intellectual property to which significant development or enhancement occurred in Louisiana.
Acts 2002, 1st Ex. Sess., No. 8, §1, eff. July 1, 2002; Acts 2007, No. 401, §1, eff. July 10, 2007; Acts 2011, No. 416, §2, eff. July 1, 2011.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:2355. Applicant receiving tax credits not eligible to receive other tax incentives

RS 51:2355 - Applicant receiving tax credits not eligible to receive other tax incentives
Notwithstanding any other provision of law to the contrary, a taxpayer shall not receive any other tax incentive administered by the Department of Economic Development for any expenditures for which the taxpayer has received a credit under this Part.
Acts 2007, No. 401, §1, eff. July 10, 2007; Acts 2011, No. 416, §2, eff. July 1, 2011.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:2356. Expiration date of credit

RS 51:2356 - Expiration date of credit
There shall be no tax credits granted or earned under this Part after July 1, 2017.
Acts 2007, No. 401, §1, eff. July 10, 2007; Acts 2011, No. 416, §2, eff. July 1, 2011; Acts 2017, No. 323, §2, eff. June 22, 2017.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:2357. Repealed by Acts 1992, No. 1092, §2, and Acts 1992, No. 1136, §2, eff. Jan. 1, 1994.

RS 51:2357 - Repealed by Acts 1992, No. 1092, §2, and Acts 1992, No. 1136, §2, eff. Jan. 1, 1994.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:2358. Repealed by Acts 1992, No. 1092, §2, and Acts 1992, No. 1136, §2, eff. Jan. 1, 1994.

RS 51:2358 - Repealed by Acts 1992, No. 1092, §2, and Acts 1992, No. 1136, §2, eff. Jan. 1, 1994.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:2359. Repealed by Acts 1992, No. 1092, §2, and Acts 1992, No. 1136, §2, eff. Jan. 1, 1994.

RS 51:2359 - Repealed by Acts 1992, No. 1092, §2, and Acts 1992, No. 1136, §2, eff. Jan. 1, 1994.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:2360. Repealed by Acts 1992, No. 1092, §2, and Acts 1992, No. 1136, §2, eff. Jan. 1. 1994.

RS 51:2360 - Repealed by Acts 1992, No. 1092, §2, and Acts 1992, No. 1136, §2, eff. Jan. 1. 1994.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:2361. Rapid Response Fund

RS 51:2361 - Rapid Response Fund
A.(1) The Rapid Response Fund, hereinafter referred to as the "fund", is hereby created as a special fund within the state treasury.
(2) Beginning July 1, 2005, the state treasurer is directed to deposit into the fund at the beginning of each fiscal year ten million dollars. The legislature may appropriate additional monies to the fund notwithstanding the balance in the fund.
B.(1) All unexpended and unencumbered monies in the fund at the end of the fiscal year shall remain in the fund. Monies in the fund shall be invested by the treasurer in the same manner as those in the state general fund, and any interest earned on the investment of monies in the fund shall be credited to the fund.
(2) Monies in the fund shall be available for appropriation to the Department of Economic Development, hereinafter referred to as the "department". Such appropriations shall be used by the secretary of the department for immediate funding of all or a portion of economic development projects which may be necessary in order to successfully secure the creation or retention of jobs by a business entity under such circumstances as may be determined by the secretary and the governor.
(3) The secretary shall report to the Joint Legislative Committee on the Budget twice yearly, on the first day of October and the first day of April, with respect to all actual expenditures of monies appropriated from the fund. The reports shall be available electronically, and the secretary shall include in these reports any other information which the committee may require with respect to use of monies appropriated from the fund, including but not limited to the following information on each economic development project which receives funding:
(a) Performance targets.
(b) Outcomes.
(c) Numbers of jobs created and retained.
(d) Overall payroll generated.
(4) The department shall make available upon request the economic impact analysis on an economic development project which receives monies from the fund.
C. At the same time as the secretary submits to the official journal for the state a notice containing general information regarding active negotiations for an economic development project which is eligible for funding from the fund, which active negotiations the secretary desires to keep confidential as provided in R.S. 44:22, upon request by a member of the legislature in whose legislative district a project is located, the secretary may provide information regarding the project if the member submits his signature under oath that all information shall remain confidential and privileged.
Acts 2005, No. 398, §1, eff. July 1, 2005; Acts 2010, No. 368, §1; Acts 2010, No. 633, §3, eff. July 1, 2010; Acts 2015, No. 121, §5, eff. July 1, 2015.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:2362. Accountability requirements; legal agreements; Rapid Response Fund projects

RS 51:2362 - Accountability requirements; legal agreements; Rapid Response Fund projects
A. All legal agreements for Rapid Response Fund projects shall include all of the following:
(1) A minimum number of direct, full-time created or retained jobs.
(2) A specified time frame by which these job targets are to be achieved.
(3) Minimum payroll requirements.
(4) The total capital investment to be made by the receiving entity, if applicable.
(5) A specified process by which all targets will be validated.
(6) Required recoupment procedures for nonperformance.
B. The provisions of this Section shall not apply to economic development projects in response to a disaster or emergency declared by the governor, or to project agreements with state, local, or federal governmental entities, including the military services.
Acts 2010, No. 383, §1, eff. Jan. 1, 2011.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:2363. Accountability requirements; reports; Rapid Response Fund

RS 51:2363 - Accountability requirements; reports; Rapid Response Fund
A. The secretary of the Department of Economic Development shall develop a uniform accountability report for economic development created by the Rapid Response Fund. The secretary shall also develop a formula for measuring the return on investment for each Rapid Response Fund project.
B. The Department of Economic Development shall compile and make available a list of the cooperative endeavor agreements, the name of the entity receiving funds, and the amount of the incentive received for all Rapid Response Fund projects in both written and electronic form.
Acts 2010, No. 420, §1, eff. Jan. 1, 2011.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:2366. Accountability requirements; Mega-Project Development Fund

RS 51:2366 - Accountability requirements; Mega-Project Development Fund
A. The secretary of the Department of Economic Development shall develop a uniform accountability report for economic development created by the Louisiana Mega-Project Development Fund. The secretary shall also develop a formula for measuring the return on investment for each mega-project.
B. The Department of Economic Development shall compile and make available a list of the cooperative endeavor agreements, the name of the entity receiving funds, and the amount of the incentive received for all Louisiana Mega-Project Development Fund projects in both written and electronic form.
Acts 2010, No. 420, §1, eff. Jan. 1, 2011.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:2370.1. Establishment

RS 51:2370.1 - Establishment
There is hereby created a grant program to be known as the "Granting Unserved Municipalities Broadband Opportunities" program, hereinafter referred to as the "GUMBO" program.
Acts 2021, No. 477, §1, eff. July 1, 2021; Acts 2023, No. 383, §3A.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:2370.6. Consultation

RS 51:2370.6 - Consultation
The office may consult with the Louisiana Department of Economic Development to determine if a broadband project proposed under this Subpart will benefit a potential economic development project relevant to the proposed area outlined in the broadband project.
Acts 2021, No. 477, §1, eff. July 1, 2021; Acts 2023, No. 383, §3A.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:2370.8. Funding; match requirement

RS 51:2370.8 - Funding; match requirement
A. Grant recipients are required to provide matching funds in accordance with rules promulgated by the office. A grant recipient shall contribute from its own funds a minimum of twenty percent of the total estimated cost of the project.
B.(1) A local government may contribute funding or in-kind contributions for use on an eligible project under the provisions of this Subpart. The contribution of funding by local government for an eligible project under the provisions of this Part shall not be considered a partnership for providing a covered service under the Local Government Fair Competition Act.
(2) A local government shall not make or grant any undue or unreasonable preference or advantage to itself or to any provider of broadband service.
(3) A local government shall apply without discrimination as to itself and to any provider the local government's ordinances, rules, and policies, including those relating to obligation to serve, access to public right of way, permitting, performance bonding, reporting, and quality of service.
Acts 2021, No. 477, §1, eff. July 1, 2021; Acts 2023, No. 383, §3A.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:2370.9. Compliance during the agreement

RS 51:2370.9 - Compliance during the agreement
The office shall require that grant recipients offer the proposed advertised minimum download and minimum upload speeds of twenty-five Mbps download and three Mbps upload. Grant recipients that have offered broadband service to at least one thousand consumers for a period of at least five consecutive years shall offer broadband service at prices consistent with offers to consumers in other areas of the state. Any other broadband provider shall ensure that the broadband service is priced to consumers at no more than the cost rate identified in the project application, for the duration of the five-year service agreement. In calculating cost, the recipient may adjust annually, consistent with the annual percentage increase in the Consumer Price Index in the preceding year. At least annually, a grant recipient shall provide to the office evidence consistent with Federal Communications Commission attestation that the grant recipient is making available the proposed advertised speed, or a faster speed, as contained in the grant agreement. For the duration of the agreement, grant recipients shall disclose any changes to data caps. The office may require that grant recipients submit, no more than quarterly, a report for each funded project for the duration of the agreement.
Acts 2021, No. 477, §1, eff. July 1, 2021; Acts 2022, No. 288, §2; Acts 2023, No. 383, §3A.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:2370.10. Failure to perform

RS 51:2370.10 - Failure to perform
A. A grant recipient shall forfeit the amount of the grant received if it fails to perform, in material respect, the obligations established in the agreement. Grant recipients that fail to provide the minimum advertised connection speed and cost at the advertised rate shall forfeit any matching funds, up to the entire amount received through the GUMBO program. The office shall use its discretion to determine the amount forfeited. A grant recipient that forfeits amounts disbursed under this Subpart is liable for up to the amount disbursed plus interest. The number of subscribers that subscribe to broadband services offered by the provider in the project area shall not be a measure of performance under the agreement for the purposes of this Subsection.
B. A grant recipient shall not be required to forfeit the amount of the grant received if it fails to perform due to a natural disaster, an act of God, force majeure, a catastrophe, pandemic, the failure to obtain access to private or public property or any government permits under reasonable terms, or such other occurrence over which the grant recipient has no control.
C. Except as provided for in Subsection B of this Section, if a grant recipient fails to perform and fails to return the full forfeited amount required pursuant to this Section, the ownership and use of the broadband infrastructure funded by the GUMBO program shall revert to the division of administration.
D. Notwithstanding the provisions of this Section to the contrary, if a grant recipient fails to complete a project in a material respect, the grant recipient, at the discretion of the office, may be required to reimburse the state the actual cost to finish the project. The actual cost to finish the project shall be determined by the office in consultation with the grant recipient. The office shall not require a grant recipient that it deems has made a good faith effort to complete a project to reimburse the state an amount greater than the remaining GUMBO cost per prospective broadband recipient as set forth in the grant recipient's application.
Acts 2021, No. 477, §1, eff. July 1, 2021; Acts 2022, No. 288, §2; Acts 2023, No. 383, §3A.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:2370.11. Receipt and disbursement of federal grant funds

RS 51:2370.11 - Receipt and disbursement of federal grant funds
The division of administration shall be the designated agency for receipt and disbursement of state and federal funds intended for the state for broadband expansion or allocated by the state for broadband expansion and shall seek available federal grant funds for that purpose. All federal grant funds received for the purpose of broadband expansion shall be disbursed in accordance with this Subpart.
Acts 2021, No. 477, §1, eff. July 1, 2021; Acts 2023, No. 383, §3A.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:2370.12. Reporting requirements

RS 51:2370.12 - Reporting requirements
A. Grant recipients shall submit to the office an annual report for each funded project for the duration of the agreement. The report shall include a summary of the items contained in the grant agreement and shall also include all of the following:
(1) The number of residential and commercial locations that have broadband access as a result of the project.
(2) The percentage of end users in the project area who have access to broadband service and the percentage of those with access who actually subscribe to the broadband service.
(3) The average monthly subscription rate for residential and commercial broadband service in the project area.
(4) Any right-of-way fees or permit fees paid to local government, state government, railroad, private entity or person during the fulfillment of the grant awarded pursuant to this Subpart.
(5) Any delays encountered when obtaining a right-of-way permission.
B. The office shall submit an annual report to the House Committee on Commerce, Senate Committee on Commerce, Consumer Protection, and International Affairs, and the Joint Legislative Committee on Technology and Cybersecurity on or before September thirtieth of each calendar year. The report shall contain all of the following:
(1) The number of grant projects applied for and the number of grant agreements entered into.
(2) A timeline for each grant agreement and the number of households, businesses, agriculture operations, and community anchor points expected to benefit from each agreement.
(3) The amount of matching funds required for each agreement and the total amount of investment.
(4) A summary of areas receiving grants that are now being provided broadband service and the advertised broadband speeds and corresponding costs for those areas.
(5) Any breaches of agreements, grant fund forfeitures, or subsequent reductions or refunds of matching funds.
(6) Any recommendations for the GUMBO program, including better sources and methods for improving outcomes and accountability.
Acts 2021, No. 477, §1, eff. July 1, 2021; Acts 2023, No. 383, §3A.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:2370.13. Administration fee

RS 51:2370.13 - Administration fee
The office may use up to one percent of the appropriated funds to administer the GUMBO program. The office may use an additional one percent of the appropriated funds to hire third-party contractors as deemed necessary for the further administration of the GUMBO program. The additional one percent shall not be used as compensation for any new or existing positions within the office.
Acts 2021, No. 477, §1, eff. July 1, 2021; Acts 2022, No. 288, §2; Acts 2023, No. 383, §3A.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:2370.14. Rules

RS 51:2370.14 - Rules
A. The office shall promulgate rules necessary to carry out the provisions of this Subpart in accordance with the provisions of the Administrative Procedure Act.
B. In administering the program, the office shall not include consideration of any new or additional regulatory obligations beyond those provided in this Subpart and any other applicable law.
C. Grants solicited and awarded pursuant to the GUMBO program shall not be subject to the provisions of the Louisiana Procurement Code, R.S. 39:1551 et seq. or the Public Bid Law, R.S. 38:2181 et seq. The office shall devise and implement alternate procurement methods to identify and award on the basis of best value, soliciting applications and scoring product features, cost, and technical factors in accordance with this Subpart.
Acts 2021, No. 477, §1, eff. July 1, 2021; Acts 2023, No. 383, §3A.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:2370.15. Reimbursement for grantees

RS 51:2370.15 - Reimbursement for grantees
Initial funding of ten percent shall be distributed to a grantee once the grantee has demonstrated that ten percent of the project has been completed. Thereafter, payments shall be distributed as follows: thirty-five percent completion, sixty percent completion, eighty-five percent completion, and the final fifteen percent payment shall not be paid without an approved completion report. Invoice for final payment shall be submitted within ninety days of completion date. All invoices are subject to audit for three years from the completion date.
Acts 2021, No. 477, §1, eff. July 1, 2021; Acts 2023, No. 383, §3A.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:2370.16. Records; limitations

RS 51:2370.16 - Records; limitations
Notwithstanding any provision of this Subpart to the contrary, all records related to the GUMBO program shall be public records as provided by the Public Records Law, except for a provider's trade secret and proprietary information, including coverage data, maps, and shapefiles.
Acts 2021, No. 477, §1, eff. July 1, 2021; Acts 2022, No. 288, §2; Acts 2023, No. 383, §3A.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:2370.21. Establishment; short title

RS 51:2370.21 - Establishment; short title
A. There is hereby created a grant program to be known as the "Granting Unserved Municipalities Broadband Opportunities 2.0" program, hereinafter referred to in this Subpart as the "GUMBO 2.0" program. Funding and administration of this program shall be governed in accordance with the Infrastructure Investment and Jobs Act (IIJA), P.L. 117-58, and the Broadband Equity, Access, and Deployment (BEAD) Program Notice of Funding Opportunity (NOFO) issued by the National Telecommunications and Information Administration of United States Department of Commerce (NTIA), including any additional regulations promulgated by or guidance of the assistant secretary may provide.
B. This Subpart shall be known and may be cited as the "GUMBO 2.0 Program Law".
Acts 2023, No. 383, §1.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:2370.23. Administration fee

RS 51:2370.23 - Administration fee
The office may use up to one percent of the appropriated funds to administer the GUMBO 2.0 program. The office may use an additional one percent of the appropriated funds to hire third-party contractors as determined necessary for the further administration of the GUMBO 2.0 program. The additional one percent shall not be used as compensation for any new or existing positions within the office.
Acts 2023, No. 383, §1.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:2370.24. Rules

RS 51:2370.24 - Rules
A. The office shall have the authority and responsibility to promulgate rules that are consistent with requirements promulgated by the assistant secretary pursuant to the IIJA, BEAD program guidelines, state law, and this Subpart.
B. Grants solicited and awarded pursuant to the GUMBO 2.0 program are not subject to the provisions of the Louisiana Procurement Code, R.S. 39:1551 et seq., or the Public Bid Law, R.S. 38:2181 et seq. The office shall devise and implement alternative procurement methods consistent with the requirements defined by the assistant secretary to award grants.
Acts 2023, No. 383, §1.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:2370.25. Records; limitations

RS 51:2370.25 - Records; limitations
A. Notwithstanding any provision of this Subpart to the contrary, all records related to the GUMBO 2.0 program are public records as provided by the Public Records Law, R.S. 44:1 et seq., except for a broadband service provider's trade secret and proprietary information, including coverage data, maps, and shapefiles.
B. The office shall treat any information submitted with a broadband availability challenge or grant award protest that is not publicly available as confidential and subject to the trade secrets protections of state law upon a challenging broadband service provider's request for confidential treatment.
Acts 2023, No. 383, §1.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:2370.26. Funding; match requirement

RS 51:2370.26 - Funding; match requirement
A. A grant recipient is required to provide matching funds in accordance with state law and rules promulgated by the office. A grant recipient shall contribute from its own funds a minimum of twenty-five percent of the total estimated cost of the project, to be validated by the office, unless granted a written waiver by the office.
B.(1) A local government may contribute funding or in-kind contributions for use on an eligible project in accordance with the provisions of this Subpart. The contribution of funding by local government for an eligible project in accordance with the provisions of this Subpart shall not be considered a partnership for providing a covered service in accordance with the Local Government Fair Competition Act, R.S. 45:844.41 et seq.
(2) A local government shall not make or grant any undue or unreasonable preference or advantage to itself or to any provider of broadband service.
(3) A local government shall apply without discrimination as to itself and to any broadband service provider the local government's ordinances, rules, and policies, including those relating to access to public right-of-way, permitting, and any bonding requirements.
Acts 2023, No. 383, §1.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:2370.29. Compliance during the grant agreement

RS 51:2370.29 - Compliance during the grant agreement
The office will conduct an implementation meeting with a grant recipient within thirty days of execution of a grant agreement and will make reporting templates and instructions available at or shortly after the implementation meeting. The office shall require that a grant recipient offer the proposed advertised minimum download and minimum upload speeds of one hundred Mbps download and twenty Mbps upload. A grant recipient that has offered broadband service to at least one thousand consumers for a period of at least five consecutive years shall offer broadband service at prices consistent with offers to consumers in other areas of the state. Any other broadband service provider shall ensure that the broadband service is priced to consumers at no more than the cost rate identified in the project application for the duration of the five-year service agreement. In calculating cost, the grant recipient may adjust annually consistent with the annual percentage increase in the Consumer Price Index in the preceding year. At least annually, a grant recipient shall provide to the office evidence consistent with the Federal Communications Commission attestation that the grant recipient is making available the proposed advertised speed, or a faster speed, as contained in the grant agreement.
Acts 2023, No. 383, §1.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:2370.31. Receipt and disbursement of federal grant funds

RS 51:2370.31 - Receipt and disbursement of federal grant funds
The division of administration shall be the designated agency for receipt and disbursement of state and federal funds received to implement the BEAD program. All federal grant funds received for this purpose shall be disbursed in accordance with R.S. 51:2370.21(A).
Acts 2023, No. 383, §1.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:2370.32. Reimbursement for grantees

RS 51:2370.32 - Reimbursement for grantees
Reimbursements of eligible costs shall be made by percentage of total project costs expended: ten percent, thirty-five percent, sixty percent, eighty-five percent, and the final fifteen percent payment shall not be paid without an approved completion report. Invoice for final payment shall be submitted within ninety days of a completion date. All invoices are subject to audit for three years from the completion date.
Acts 2023, No. 383, §1.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:2370.33. Failure to perform

RS 51:2370.33 - Failure to perform
A. A grant recipient forfeits the amount of a grant received if the grant recipient fails to perform, in material respect, the obligations established in law or in the grant agreement. A grant agreement shall last, at a minimum, for the duration of broadband project construction and, or longer, in accordance with the grant agreement, but not to exceed five years after construction completion. A grant recipient that fails to provide the minimum advertised connection speed and cost at the advertised rate shall forfeit any grant funds, up to the entire amount received through the GUMBO 2.0 program. The office shall use its discretion to determine the amount forfeited. A grant recipient that forfeits amounts disbursed in accordance with this Subpart is liable for up to the amount disbursed plus interest. The number of subscribers that subscribe to broadband services offered by the broadband service provider in the project area shall not be a measure of performance under the grant agreement for the purposes of this Subsection.
B. A grant recipient is not required to forfeit the amount of a grant received if the grant recipient fails to perform due to a natural disaster, an act of God, a force majeure, a catastrophe, a pandemic, the failure to obtain access to private or public property or any government permits under reasonable terms, or such other occurrence over which the grant recipient has no control.
C. Except as provided for in Subsection B of this Section, if a grant recipient fails to perform and fails to return the full forfeited amount required pursuant to this Section, the ownership and use of the broadband infrastructure funded by the GUMBO 2.0 program shall revert to the division of administration.
D. Notwithstanding the provisions of this Section to the contrary, if a grant recipient fails to complete a project in a material respect, the grant recipient, at the discretion of the office, may be required to reimburse the state the actual cost to finish the project. The actual cost to finish the project shall be determined by the office in consultation with the grant recipient. The office shall not require a grant recipient that it determines has made a good faith effort to complete a project to reimburse the state an amount greater than the remaining GUMBO 2.0 cost per broadband-serviceable location as set forth in the grant recipient's application.
Acts 2023, No. 383, §1.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:2373. Exemption from taxation

RS 51:2373 - Exemption from taxation
The effectuation of the authorized purposes of the corporation shall and will be in all respects for the benefit of the people of the state of Louisiana, for the alleviation of their economic and social distress, and for the improvement of their welfare; and since the corporation will, as a government instrumentality of the state, be performing essential governmental functions in effectuating such purposes, the funds, bonds or other evidences of indebtedness issued by the corporation, their transfer and the income therefrom, including any profits made on the sale thereof shall at all times be free from taxation within the state of Louisiana.
Acts 1988, No. 888, §1, eff. July 21, 1988.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:2376. Duties and objectives; reporting

RS 51:2376 - Duties and objectives; reporting
The duties and objectives of the members of the council shall include but are not limited to the following:
(1) Continual research and development of recommendations with regard to regulatory and licensing issues.
(2) Continual research and development of recommendations with regard to access to capital strategies which directly impact the rate of entrepreneurship and small business growth.
(3) Development of a report on the state of small business in Louisiana and a report on the department's small business programs, including but not limited to the following:
(a) The number of small businesses operating in Louisiana and a geographic breakdown of the number of small businesses by economic development region.
(b) Demographic information on small business ownership in Louisiana.
(c) A full accounting of the small business resources available in Louisiana in the categories of technical assistance, networking, access to capital, incentives, and state government procurement opportunities.
(d) A catalog of all services provided by the department and its small business services partners, and for each program the number of businesses served, relevant performance metrics, and recommendations for improvement, if any.
(e) The report shall be developed annually and shall be provided to the legislature at least sixty days prior to the start of the regular legislative session.
Acts 2018, No. 327, §1.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:2377. Termination of Chapter

RS 51:2377 - Termination of Chapter
The provisions of this Chapter shall terminate on June 30, 2023, and thereafter shall be null, void, and without effect.
Acts 2018, No. 327, §1; Acts 2020, No. 21, §1, eff. June 4, 2020.
NOTE: This Section is updated through the 2020 First Extraordinary Session, but is subject to final technical revisions by the Louisiana State Law Institute.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:2386. Short title

RS 51:2386 - Short title
This Chapter shall be known and may be cited as the "Louisiana Business and Industrial Development Company Act" or the "Louisiana BIDCO Act".
Acts 1991, No. 506, §1; Acts 1996, 1st Ex. Sess., No. 30, §3, eff. May 7, 1996; Acts 2004, No. 806, §1.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:2387. Declaration of purpose

RS 51:2387 - Declaration of purpose
The purposes of this Chapter are to:
(1) Promote economic development by encouraging the formation of business and industrial development companies, a new type of private institution, to help grow the financial services industry in Louisiana, create high-paying job opportunities in this sector and meet the financing assistance and management assistance needs of business firms in this state and elsewhere.
(2) Provide for a system of licensing, regulation, and enforcement that will enable business and industrial development companies to satisfy eligibility requirements to participate, if they so choose, in the program of the Small Business Administration pursuant to Part 7(a) of the Small Business Act, Public Law 85-536, 15 U.S.C. 636(a), and other programs for which they may be eligible.
(3) Provide for a system of licensing, regulation, and enforcement designed to prevent fraud, conflict of interest, and mismanagement, and to promote competent management, accurate recordkeeping, and appropriate communication with shareholders or members, in order to provide the following:
(a) Comfort to prospective shareholders or members so as to facilitate equity investments in business and industrial development companies.
(b) Comfort to prospective debt sources so as to facilitate the borrowing of money by business and industrial development companies.
(4) Safeguard the general reputation of business and industrial development companies as a type of nondepository financial institution in order to increase the confidence of prospective equity investors in and prospective debt sources for those institutions.
Acts 1991, No. 506, §1; Acts 2004, No. 806, §1.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:2389.1. Guidance by commissioner; advisory opinions

RS 51:2389.1 - Guidance by commissioner; advisory opinions
A. Advisory opinions and interpretations of the office shall not be considered rules requiring compliance with the rulemaking process under the Louisiana Administrative Procedure Act.
B. This Section shall only have prospective application.
Acts 1997, No. 58, §4.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:2390. Reports

RS 51:2390 - Reports
Each licensee, each affiliate of a licensee, and each subsidiary of a licensee shall file with the commissioner such reports as and when the commissioner may reasonably require. A report under this Section shall be in such form and shall contain such information as the commissioner may reasonably require.
Acts 1991, No. 506, §1.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:2391. Impact information

RS 51:2391 - Impact information
A. The commissioner shall provide to the House Commerce Committee and Senate Commerce, Consumer Protection, and International Affairs Committee upon their request information on the impact of this Chapter in promoting economic development in this state. At the minimum, the information shall include aggregate statistics on each of the following:
(1) The number and dollar amount of provisions of financing assistance made by licensees to business firms in Louisiana.
(2) The number and dollar amount of provisions of financing assistance made by licensees to business firms in Louisiana classified in broad categories of industry, such as divisions of the standard industrial classification manual.
(3) The number and dollar amount of provisions of financing assistance made by licensees to minority-owned business firms and to women-owned business firms in Louisiana.
(4) Estimates of the number of jobs created or retained in Louisiana.
(5) The total number of employees and total payroll for Louisiana employees of BIDCOs.
B.(1) The commissioner shall examine each licensee not less than once each calendar year.
(2) The commissioner may at any time examine a licensee or subsidiary of a licensee.
(3) A director, officer, manager, or employee of a licensee or of a subsidiary of a licensee being examined by the commissioner, or a person having custody of any of the books, accounts, or records of the licensee or of the subsidiary, shall exhibit to the commissioner, on request, any of the books, accounts, and other records of the licensee or of the subsidiary and shall otherwise facilitate the examination so far as it is in their power to do so.
Acts 1991, No. 506, §1; Acts 2003, No. 183, §8; Acts 2004, No. 806, §1.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:2393. Misrepresenting the meaning or effect of license; prohibited

RS 51:2393 - Misrepresenting the meaning or effect of license; prohibited
A.(1) A Louisiana corporation or limited liability company that is licensed under another law of this state or under any law of the United States may apply for and be issued a license under this Chapter unless the transaction of business by the corporation or company as a licensee under another law of this state or a law of the United States violates this Chapter or is contrary to the purposes of this Chapter.
(2) A Louisiana corporation or Louisiana limited liability company that is licensed under this Chapter may apply for and be issued a license under another law of this state or of another state or a law of the United States unless the transaction of business by that corporation or company as a licensee under another law of this state or another state or a law of the United States would violate this Chapter or would be contrary to the purposes of this Chapter.
B.(1) Upon approval of a two-thirds vote of its board of directors, managers, or members and after complying with Paragraph (2) of this Subsection, a licensee may apply to the commissioner to have the commissioner accept the surrender of the licensee's license. If the commissioner determines that the requirements of this Section have been satisfied, the commissioner shall approve the application.
(2) Not less than sixty days before filing an application with the commissioner under Paragraph (1) of this Subsection, a licensee shall notify all of its shareholders or members and all of its creditors of its intention to file the application. Each creditor shall be notified of the right to comment to the commissioner. Each shareholder or member shall be notified of the right to file with the licensee an objection to the proposed surrender of the license within the sixty-day period and shall be advised that, if the shareholder files an objection, the shareholder or member should send a copy of the objection to the commissioner. If shareholders or members representing twenty percent of the outstanding voting securities of the licensee file an objection, the licensee shall not proceed with the application under Paragraph (1) of this Subsection unless the application is approved by a vote of shareholders or members representing two-thirds of the outstanding voting securities of the licensee.
Acts 1991, No. 506, §1; Acts 2004, No. 806, §1.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:2394. Corporate or company matters

RS 51:2394 - Corporate or company matters
A. The corporate or limited liability company name of each licensee shall include the word "BIDCO". A licensee shall not transact business under a name other than its corporate name or limited liability company name.
B.(1) The board of directors of each licensee shall consist of not less than five directors. If the licensee is a limited liability company, it shall have at least five managers who are natural persons.
(2) The board of directors or managers of each licensee shall hold a meeting not less than once each month.
C. Within thirty days after the death, resignation, or removal of a director, manager, or officer, the election of a director, or the appointment of an officer, the licensee shall notify the commissioner in writing of the event and shall provide any additional information which the commissioner may require.
Acts 1991, No. 506, §1; Acts 2004, No. 806, §1.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:2395.1. Legal investments

RS 51:2395.1 - Legal investments
Any parish, municipality, school board, special district, or political subdivision may legally invest any monies or funds belonging to them or within their control in a BIDCO established pursuant to this Chapter. Nothing contained in this Section with regard to legal investments shall be construed as relieving any person or persons of any duty of exercising reasonable care in selecting securities.
Acts 2007, No. 159, §2.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:2398. General provisions

RS 51:2398 - General provisions
A. This Chapter shall be liberally construed to accomplish its purposes.
B. A proceeding to promulgate rules or regulations regarding civil penalties under R.S. 51:2396(I) shall be subject to the Administrative Procedure Act.
C. Except as otherwise provided in this Subsection, the provisions of a licensee's incorporating statute apply to the licensee. If a provision of the licensee's incorporating statute conflicts with any provision of this Chapter, this Chapter controls.
Acts 1991, No. 506, §1.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:2399.1. Intent

RS 51:2399.1 - Intent
A. It is the intent of the Legislature of Louisiana that the modernization benefits provided for in this Chapter should be used primarily as an inducement for businesses to remain in the state and not relocate outside the state and to modernize their existing operations in Louisiana.
B. Nothing herein shall be construed to constitute a guarantee or assumption by the state of any debt of any individual, company, corporation, or association or to authorize the credit of the state to be given, pledged, or loaned to any individual, company, corporation, or association.
C. No agency shall incur monetary or personnel costs paid with federal funds for compliance with the provisions of this Chapter when such use of the funds is prohibited by federal law.
Acts 2009, No. 447, §1.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:2399.4. Modernization tax credit approval

RS 51:2399.4 - Modernization tax credit approval
A. The department, after consultation with the secretary of the Louisiana Workforce Commission and the secretary of the Department of Revenue, may issue modernization tax credits provided the employer meets the requirements established by Subsection B of this Section. Nothing in this Chapter shall establish a right of the employer to receive retention and modernization tax credits unless approved by the department.
B. The employer shall establish one of the following:
(1) An increase in the increase of maximum capacity or efficiency of the facility of greater than ten percent.
(2) An approved investment from a company with multi-state operations with an established competitive capital project program.
C.(1) No contract shall be executed pursuant to this Chapter with an employer who has defaulted on or otherwise not repaid any loan or other obligation involving public funds nor with any employer who has ever declared bankruptcy under which an obligation of the employer to pay or repay public funds or monies was discharged as part of such bankruptcy.
(2) No contract shall be executed under this Chapter with an employer who is in default on any filing or payment with or to the state or any of its agencies or political subdivisions and in which an assessment or judgment that is final and non-appealable has been rendered, and remains outstanding, in favor of the state, or any of its agencies, or political subdivisions.
Acts 2009, No. 447, §1.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:2399.5. Promulgation of rules

RS 51:2399.5 - Promulgation of rules
The Department of Economic Development, the Louisiana Workforce Commission and the Department of Revenue shall each promulgate such rules, in accordance with the Administrative Procedure Act, as may be necessary to implement the provisions of this Chapter.
Acts 2009, No. 447, §1.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:2399.6. False or fraudulent information in making application, claim for credit or other instrument; penalties

RS 51:2399.6 - False or fraudulent information in making application, claim for credit or other instrument; penalties
A. Any person making an application, claim for a tax credit, or any report, return, statement, or other instrument or providing any other information pursuant to the provisions of this Chapter who willfully makes a false or fraudulent application, claim, report, return, statement, invoice, or other instrument or who willfully provides any false or fraudulent information, any person who willfully aids or abets another in making such false or fraudulent application, claim, report, return, statement, invoice, or other instrument, or any person who willfully aids or abets another in providing any false or fraudulent information, shall be guilty, upon conviction, of a felony and shall be punished by the imposition of a fine of not less than one thousand dollars and not more than fifty thousand dollars, or imprisoned for not less than two years and not more than five years, or both.
B. Any person convicted of a violation of this Section shall be liable for the repayment of all credits which were granted to the employer. Interest shall be due on such credits at the rate of fifteen percent per annum.
Acts 2009, No. 447, §1.