§1260. Major Events Incentive Fund; Major Events Incentive Program
A.
(1)There is hereby created in the state treasury, as a special fund, the Major
Events Incentive Fund, hereinafter referred to in this Section as the "fund".
(2)The source of monies deposited into the fund shall be any monies appropriated
by the legislature, including federal funds; any public or private donations, gifts, or grants
from individuals, corporations, nonprofit organizations, or other business entities which may
be made to the fund; and any other monies which may be provided by law. In determining
the amount of the annual appropriation to the fund, the legislature shall consider contracts
which have been entered into pursuant to this Section as well as any recruitment efforts being
made by local organizing co
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§1260. Major Events Incentive Fund; Major Events Incentive Program
A.(1) There is hereby created in the state treasury, as a special fund, the Major
Events Incentive Fund, hereinafter referred to in this Section as the "fund".
(2) The source of monies deposited into the fund shall be any monies appropriated
by the legislature, including federal funds; any public or private donations, gifts, or grants
from individuals, corporations, nonprofit organizations, or other business entities which may
be made to the fund; and any other monies which may be provided by law. In determining
the amount of the annual appropriation to the fund, the legislature shall consider contracts
which have been entered into pursuant to this Section as well as any recruitment efforts being
made by local organizing committees for qualified major events.
(3) Monies in the fund shall be invested in the same manner as monies in the state
general fund and any interest earned on the investment of monies in the fund shall be credited
to the fund. All unexpended and unencumbered monies in the fund at the end of the fiscal
year shall remain in the fund.
(4) Monies in the fund shall be used solely for attracting, hosting, and staging major
events pursuant to the Major Events Incentive Program as provided in this Section.
B. There is hereby created the Major Events Incentive Program, hereinafter referred
to in this Section as the "program", to be administered by Louisiana Economic Development.
The program shall provide grant funding to event producers and hosts, local organizing
committees, endorsing municipalities, endorsing parishes, official tourism commissions,
convention and visitors bureaus, and official destination marketing organizations for costs
associated with attracting and hosting qualified major events as provided in this Section.
C. As used in this Section, the following terms have the following meanings:
(1) "Endorsing municipality" means either of the following:
(a) A municipality that contains a site selected by a site selection organization for a
major event and is a party to an event support contract.
(b) A municipality that does not contain a site selected by a site selection
organization for a qualified major event but is included in the market area for the event as
designated by the secretary and is a party to an event support contract.
(2) "Endorsing parish" means either of the following:
(a) A parish that contains a site selected by a site selection organization for a
qualified major event and is a party to an event support contract.
(b) A parish that does not contain a site selected by a site selection organization for
a qualified major event but is included in the market area for the event as designated by the
secretary and is a party to an event support contract.
(3) "Event support contract" or "event contract" means a joint undertaking, a joint
agreement, or a similar contract executed by a local organizing committee, an endorsing
municipality, an endorsing parish, official tourism commission, convention and visitors
bureau, or official destination marketing organization, or any combination thereof, and a site
selection organization.
(4) "Local organizing committee" means an organization created or recognized as
the official host entity sanctioned by an endorsing municipality or parish for a specified
qualified major event.
(5) "Qualified major event" means any event, and any activities related to or
associated with the event, including but not limited to the following:
(a) A National Football League Super Bowl.
(b) A National Collegiate Athletic Association Final Four tournament game.
(c) The National Basketball Association All-Star Game.
(d) The X-Games.
(e) A National Collegiate Athletic Association Division 1 Football Bowl Subdivision
Postseason Game.
(f) A college tournament or championship.
(g) The World Games.
(h) A national collegiate championship of an amateur sport sanctioned by the national
governing body of the sport that is recognized by the United States Olympic and Paralympic
Committee.
(i) An Olympic activity including a Junior or Senior activity, training program, or
feeder program sanctioned by the United States Olympic Committee's Community Olympic
Development Program.
(j) A mixed-martial arts championship or competition bout.
(k) The Breeders' Cup World Championships.
(l) A Bassmasters Classic.
(m) A National Motorsports race.
(n) The Red Bull Signature Series.
(o) A football kickoff game between two National Collegiate Athletic Association
teams.
(p) A national championship or Olympic trials of an amateur or professional sport
sanctioned by the national governing body of the sport.
(q) The United States Bowling Congress Tournament.
(r) Any event sanctioned by TKO Group Holdings, Inc., including but not limited to
WWE WrestleMania and Ultimate Fighting Championship events.
(s) The Bayou Classic.
(t) The Essence Festival.
(u) The Zurich Classic or other PGA Tour event or any event sanctioned by a
professional golf organization.
(v) A national military event or air show.
(w) A national political convention of the Republican National Committee or the
Democratic National Committee.
(x) Any National Collegiate Athletic Association conference, convention, or
conference media event including conference media days.
(y) Any event sanctioned by the USA Baseball, USA Softball, or by the World
Baseball Softball Confederation.
(z) Any event sanctioned by the international or national governing body of soccer,
Federation Internationale de Football Association (FIFA) or U.S. Soccer including but not
limited to World Cups, international "friendlies" matches between national or professional
teams, or tournaments between national teams or professional teams from countries that are
members of the international governing bodies.
(aa) Any event sanctioned by the international or national governing body of rugby,
World Rugby or USA Rugby including but not limited to World Cups, international
"friendlies" matches between national or professional teams, or tournaments between
national teams or professional teams from countries that are members of the international
governing bodies.
(bb) Any event sanctioned by the Association of Tennis Professionals or Women's
Tennis Association, including events on the ATP Tour or WTA Tour.
(cc) Any event sanctioned by the Professional Rodeo Cowboys Association,
Professional Bull Riders, or any international amateur or professional rodeo or bull riding
event.
(dd) The Humor and Harmony Weekend.
(ee) The State Fair of Louisiana.
(ff) Any professional boat racing event hosted by Powerboat P1 or AquaX.
(gg) The Boots on the Bayou music festival.
(6) "Site selection organization" means the governing body of an organization that
schedules a qualified major event as defined in this Subsection.
D. An entity shall be eligible to receive funding through the program only if all of
the following apply:
(1) The event is included in the definition of qualified major event.
(2) A site selection organization or the event producer or host selects or has selected
a site in Louisiana under either of the following circumstances:
(a) After holding a bidding or invitation selection process involving required terms
and conditions that could be fulfilled by sites not located in Louisiana.
(b) As the sole site for the event or the sole site for the event in a region composed
of Louisiana and one or more states.
(3) The event is not held more than one time per year in Louisiana or any other state.
The provisions of this Paragraph shall not apply to events occurring twice in one year due
to a natural disaster, an act of God, force majeure, a catastrophe, pandemic, or such other
occurrence which causes the event to move or be rescheduled.
E. The secretary of Louisiana Economic Development is hereby authorized to enter
into a contract with an event producer or host, a local organizing committee, endorsing
parish, endorsing municipality, official tourism commission, convention and visitors bureau,
or official destination marketing organization to recruit, solicit, acquire, or organize for
Louisiana any qualified major event. Any contract entered into pursuant to the provisions of
this Subsection shall have the prior approval of the Joint Legislative Committee on the
Budget and be subject to the availability of funding for such contract within the Major Events
Incentive Fund. The contract shall provide for a financial commitment to the entity which
shall not exceed the amount to recruit, solicit, or acquire a major event or the qualified major
event's projected economic impact in the state, as demonstrated by an economic impact
analysis conducted by an economist selected by Louisiana Economic Development,
whichever is greater.
F. Upon completion of the qualified major event, the grant recipient shall make all
records related to the costs associated with attracting and hosting the qualified major event
available for inspection by Louisiana Economic Development, and an economist selected by
Louisiana Economic Development shall prepare an economic impact analysis report which
shall be paid for by the grant recipient. Any economic impact analysis provided in this
Section shall be submitted to the secretary of Louisiana Economic Development.
G. Any grants received pursuant to this Section may be used for either of the
following:
(1) To pay or reimburse the costs of applying or bidding for selection as the site of
the event.
(2) To pay or reimburse the costs of planning for or conducting the event.
H. Louisiana Economic Development shall promulgate rules for the administration
of the program in accordance with the Administrative Procedure Act. In order to expedite
implementation of the program, the department shall utilize emergency rulemaking for the
promulgation of the initial administrative rules.
I. Repealed by Acts 2024, No. 518, §2, eff. July 1, 2024.