The bill amends and reenacts several provisions of the Major Events Incentive Fund and the Major Events Incentive Program in Louisiana, specifically R.S. 51:1260. It transfers the administration of the program from the office of the lieutenant governor and the Department of Culture, Recreation and Tourism to the Department of Economic Development. The bill also expands the definition of "qualified major event" to include events sanctioned by international governing bodies of soccer and rugby, as well as other notable events, thereby broadening the scope of events eligible for financial incentives.

Additionally, the bill repeals the Events Incentive Program and certain reporting requirements previously mandated for the lieutenant governor, streamlining the oversight and administration of the Major Events Incentive Program. The secretary of the Department of Economic Development is authorized to enter contracts to recruit and organize qualified major events, and the department is tasked with promulgating rules for the program's administration. The effective date for these changes is set for July 1, 2024.

Statutes affected:
SB341 Original: 51:1260(I)
SB341 Engrossed: 51:1260(I)
SB341 Reengrossed: 51:1260(B), 51:1261(B), 51:1260(I), 51:1261(G)
SB341 Enrolled: 51:1260(B), 51:1260(H)
SB341 Act 518: 51:1260(B), 51:1260(H)