House Bill No. by Representative McMakin proposes amendments to the fees assessed by the Louisiana Economic Development (LED) department. The bill increases various fees, such as raising the maximum fee for an advance notification from $250 to $350, the minimum fee for filing an application from $500 to $650, and the maximum fee for a loan guaranty from 4% to 5.5% of the guaranteed loan amount. Additionally, it introduces a new fee for miscellaneous administrative documents capped at $350 and allows the secretary of LED to exercise discretion in reducing or waiving fees for small businesses facing financial hardship.

The bill also establishes a mechanism for inflationary adjustments to the fee amounts every two years, starting January 1, 2029, based on the Consumer Price Index. The secretary is required to publish the adjusted fee amounts on the department's website. The proposed changes aim to ensure that the fees reflect current economic conditions while providing flexibility for small businesses. The effective date for these changes is set for January 1, 2027.

Statutes affected:
HB618 Original: 36:104(C), 36:1(B)(1)