§ 51:1261 — Events Incentive Fund

Louisiana § 51:1261

• Jurisdiction: Louisiana
• Title 51: Trade and Commerce

Text

§1261. Events Incentive Fund
A.(1) There is hereby created in the state treasury, as a special fund, the 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.
(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, planning, marketing, and
conducting events pursuant to the Events Incentive Program as provided in this Section.
B. There is hereby created the Events Incentive Program, hereinafter referred to in
this Section as the "program", to be administered by Louisiana Economic Development in
accordance with rules and regulations. The program shall provide grant funding to
municipalities, parishes, official tourism commissions, convention and visitors bureaus,
official destination marketing organizations, and nonprofit corporations hosting an event for
costs associated with planning, marketing, and conducting events held in Louisiana.
C. An entity shall be eligible to receive funding through the program only if all of the
following apply:
(1) The event is not a "qualified major event" as defined in R.S. 51:1260.
(2) 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.
(3) The applicant submits the application and required documentation no later than
one hundred eighty days prior to the event. The documentation shall include:
(a) The total anticipated cost of the event.
(b) The amount and anticipated sources of funding for the event.
(c) An economic impact analysis conducted by an economist selected by Louisiana
Economic Development indicating the event has an anticipated impact of three hundred fifty
thousand dollars or greater to the state.
(d) A proposal for the utilization of the grant funding.
D. A municipality, parish, or nonprofit corporation hosting the event shall be eligible
to receive up to twenty-five percent of the total anticipated cost incurred by the entity for the
event, not to exceed two hundred fifty thousand dollars per grant.
E. Any grants received pursuant to this Section shall 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, marketing, or conducting the event.
F. The secretary of Louisiana Economic Development shall select grant recipients and
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 provide
grant funding in accordance with the provisions of Subsection E of this Section.
G. No later than September first of each year, the secretary of Louisiana Economic
Development shall submit an annual report on the program to the Joint Legislative
Committee on the Budget. The report shall include the entities that received grant funding
for events in the previous fiscal year pursuant to this Section and the economic impact of the
events to the state, to the extent possible.
H. Louisiana Economic Development shall promulgate rules for the administration
of the program in accordance with the Administrative Procedure Act.

Legislative History

Acts 2025, No. 446, §1, eff. July 1, 2025.