House Bill No. [insert number] seeks to create the Louisiana Equestrian Corporation by adding Part VI of Chapter 4 of Title 4 to the Louisiana Revised Statutes of 1950, specifically R.S. 4:281 through 290. The primary goal of this nonprofit corporation is to promote and protect the equine industry in Louisiana, which is recognized for its substantial economic contributions through job creation and investments in equestrian activities. The bill outlines the corporation's responsibilities, including promoting equestrian training, encouraging economic development, and fostering collaboration between public and private sectors.

The governance of the corporation will be managed by a board of directors consisting of eleven members appointed from various associations and parishes. The bill grants the corporation several powers, such as the ability to sue, enter contracts, accept donations, and manage equine facilities, while ensuring that board members are not personally liable for the corporation's debts. It also mandates compliance with public records and open meetings laws, requiring the board to provide written public notice at least thirty days before finalizing any sale or lease. Furthermore, upon dissolution of the corporation, all assets will be transferred to the state, safeguarding public interests and ensuring that any remaining resources benefit the community.