§1260. Major Events Incentive Fund; Major Events Incentive Program
A.(1) There is hereby created in the state treasury, as a special fund, the Major
Events Incentive Fund, hereinafter referred to in this Section as the "fund".
(2) The source of monies deposited into the fund shall be any monies appropriated
by the legislature, including federal funds; any public or private donations, gifts, or grants
from individuals, corporations, nonprofit organizations, or other business entities which may
be made to the fund; and any other monies which may be provided by law. In determining
the amount of the annual appropriation to the fund, the legislature shall consider contracts
which have been entered into pursuant to this Section as well as any recruitment efforts being
made by local organizing committees for qualified major events.
(3) Monies in the fund shall be invested in the same manner as monies in the state
general fund and any interest earned on the investment of monies in the fund shall be credited
to the fund. All unexpended and unencumbered monies in the fund at the end of the fiscal
year shall remain in the fund.
(4) Monies in the fund shall be used solely for attracting, hosting, and staging major
events pursuant to the Major Events Incentive Program as provided in this Section.
B. There is hereby created the Major Events Incentive Program, hereinafter referred
to in this Section as the "program", to be administered by the office of lieutenant governor,
through the Department of Culture, Recreation and Tourism. The program shall provide
grant funding to event producers and hosts, local organizing committees, endorsing
municipalities, endorsing parishes, official tourism commissions, convention and visitors
bureaus, and official destination marketing organizations, for costs associated with attracting
and hosting qualified major events as provided in this Section.
C. As used in this Section, the following terms have the following meanings:
(1) "Endorsing municipality" means either of the following:
(a) A municipality that contains a site selected by a site selection organization for a
major event and is a party to an event support contract.
(b) A municipality that does not contain a site selected by a site selection
organization for a qualified major event but is included in the market area for the event as
designated by the secretary and is a party to an event support contract.
(2) "Endorsing parish" means either of the following:
(a) A parish that contains a site selected by a site selection organization for a
qualified major event and is a party to an event support contract.
(b) A parish that does not contain a site selected by a site selection organization for
a qualified major event but is included in the market area for the event as designated by the
secretary and is a party to an event support contract.
(3) "Event support contract" or "event contract" means a joint undertaking, a joint
agreement, or a similar contract executed by a local organizing committee, an endorsing
municipality, an endorsing parish, official tourism commission, convention and visitors
bureau, or official destination marketing organization, or any combination thereof, and a site
selection organization.
(4) "Local organizing committee" means an organization created or recognized as
the official host entity sanctioned by an endorsing municipality or parish for a specified
qualified major event.
(5) "Qualified major event" means a National Football League Super Bowl, a
National Collegiate Athletic Association Final Four tournament game, the National
Basketball Association All-Star Game, the X Games, a National Collegiate Athletic
Association Division I Football Bowl Subdivision postseason game, a college tournament
or championship, the World Games, a national collegiate championship of an amateur sport
sanctioned by the national governing body of the sport that is recognized by the United States
Olympic Committee, an Olympic activity including a Junior or Senior activity, training
program, or feeder program sanctioned by the United States Olympic Committee's
Community Olympic Development Program, a mixed martial arts championship, the
Breeders' Cup World Championships, a Bassmasters Classic, a National Motorsports race,
the Red Bull Signature Series, a football kickoff game between two National Collegiate
Athletic Association teams, a national championship or Olympic trials of an amateur or
professional sport sanctioned by the national governing body of the sport, the United States
Bowling Congress Tournament, the WWE WrestleMania, the Bayou Classic, the Essence
Festival, the Zurich Classic or other PGA Tour event, a national military event, a national
political convention of the Republican National Committee or of the Democratic National
Committee, or any National Collegiate Athletic Association conference, convention, or
conference media event, including conference media days. The term includes any activities
related to or associated with a qualified major event.
(6) "Site selection organization" means any of the following:
(a) The National Football League, the National Collegiate Athletic Association or
any affiliated conference, or any team or teams thereof, the National Basketball Association,
the International World Games Association, or the United States Olympic Committee.
(b) The national governing body of a sport that is recognized by the United States
Olympic Committee.
(c) The National Thoroughbred Racing Association.
(d) The Republican National Committee or Democratic National Committee.
(e) The United States Bowling Congress.
(f) The national governing body of an organization not listed in Subparagraphs (a)
through (e) of this Paragraph that schedules a qualified major event as defined in this
Subsection.
D. An entity shall be eligible to receive funding through the program only if all of
the following apply:
(1) The event is included in the definition of qualified major event.
(2) A site selection organization or the event producer or host selects or has selected
a site in Louisiana under either of the following circumstances:
(a) After holding a bidding or invitation selection process involving required terms
and conditions that could be fulfilled by sites not located in Louisiana.
(b) As the sole site for the event or the sole site for the event in a region composed
of Louisiana and one or more states.
(3) The event is not held more than one time per year in Louisiana or any other state.
The provisions of this Paragraph shall not apply to events occurring twice in one year due
to a natural disaster, an act of God, force majeure, a catastrophe, pandemic, or such other
occurrence which causes the event to move or be rescheduled.
E. The lieutenant governor, through the Department of Culture, Recreation and
Tourism, is hereby authorized to enter into a contract with an event producer or host, a local
organizing committee, endorsing parish, endorsing municipality, official tourism
commission, convention and visitors bureau, or official destination marketing organization
to recruit, solicit, acquire, or organize for Louisiana any qualified major event that will have
a significant positive impact in the state. The contract shall provide for a financial
commitment to the entity.
F. Any grants received pursuant to this Section may be used for either of the
following:
(1) To pay or reimburse the costs of applying or bidding for selection as the site of
the event.
(2) To pay or reimburse the costs of planning for or conducting the event.
G. Within sixty days after the event, the lieutenant governor shall submit an
economic analysis to the Joint Legislative Committee on the Budget which shall include the
following:
(1) The designated area which was impacted by the occurrence of the qualified major
event.
(2) The total incremental increase in state sales and use receipts in the designated
area.
(3) The total incremental increase in excise tax receipts in the designated area.
H. The Joint Legislative Committee on the Budget shall determine the portion of the
incremental tax increase reported by the lieutenant governor which shall be transferred into
the fund. Upon approval of the Joint Legislative Committee on the Budget, the treasurer
shall transfer the amount determined by the committee into the fund.
I. The Department of Culture, Recreation and Tourism shall promulgate rules for the
administration of the program in accordance with the Administrative Procedure Act. In order
to expedite implementation of the program, the department shall utilize emergency
rulemaking for the promulgation of the initial administrative rules.
Acts 2022, No. 751, §1, eff. June 27, 2022.