The bill amends several sections of Louisiana law to enhance the structure and organization of the Louisiana Economic Development (LED) agency. Key changes include the establishment of an "office of economic development" and the Louisiana Economic Development Innovation Fund, which consolidates the functions of the previously abolished offices of entertainment industry development and international commerce under LED. The bill also outlines the powers and duties of the LED secretary, including the authority to enter into cooperative endeavor agreements and manage property for economic benefits. Additionally, it introduces new provisions for the advisory board associated with LED, allowing for more flexible meeting schedules and expanding membership to include representatives from various sectors such as international business and manufacturing.

Furthermore, the bill proposes significant changes to the appointment process for members representing international ports and airports in Louisiana by removing the requirement for the governor to appoint from a specified list of organizations and ports. This change aims to streamline the selection process for representatives. The bill also repeals several sections of the Louisiana Revised Statutes related to the office of entertainment industry development, directing the Louisiana State Law Institute to update references to this office to reflect the new focus on economic development. Overall, the legislation seeks to simplify governance structures related to transportation and economic development in Louisiana while enhancing the effectiveness of the LED agency.

Statutes affected:
SB161 Original: 36:101(C)(1), 36:104(A)(17), 36:108(B), 36:109(B), 51:1(A), 51:2311(D), 51:3132(7), 51:3136(A), 47:6007(A)(18), 47:6022(C)(7), 51:3132(8)
SB161 Engrossed: 36:101(C)(1), 36:104(A)(17), 36:108(B), 36:109(B), 51:1(A), 51:2311(D), 51:3132(7), 51:3136(A), 47:6007(A)(18), 47:6022(C)(7), 51:3132(8)
SB161 Reengrossed: 36:101(C)(1), 36:104(A)(17), 36:108(B), 36:109(B), 51:1(A), 51:2311(D), 51:3132(7), 51:3136(A), 47:6007(B)(18), 47:6022(C)(7), 51:3132(8)
SB161 Enrolled: 36:101(C)(1), 36:104(A)(17), 36:108(B), 36:109(B), 36:110(F), 51:1(A), 51:2311(D), 51:3136(A), 47:6007(B)(18), 47:6022(C)(7), 51:3132(7)
SB161 Act 432: 36:101(C)(1), 36:104(A)(17), 36:108(B), 36:109(B), 36:110(F), 51:1(A), 51:2311(D), 51:3136(A), 47:6007(B)(18), 47:6022(C)(7), 51:3132(7)