The bill amends and reenacts several sections of the Louisiana Revised Statutes related to the Major Events Incentive Fund and the Major Events Incentive Program, while repealing the Events Incentive Program. Key changes include the transfer of administration 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 various other high-profile sporting and cultural events.

Additionally, the bill removes specific reporting requirements previously mandated for the lieutenant governor regarding economic analyses of events and the transfer of incremental tax increases to the fund. The Department of Economic Development is now tasked with promulgating rules for the program's administration, utilizing emergency rulemaking for initial rules. The bill is set to take effect on 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)