ECONOMIC DEVELOP DEPT: Provides relative for the Major Events Incentive Fund and Program and the Events Incentive Fund and Program. (gov sig) (EN -$500,000 GF EX See Note)

This bill establishes two new grant programs administered by the Lieutenant Governor's office to financially support the planning and hosting of events in Louisiana. The Major Events Incentive Program provides funding to organizations and local governments for specific large-scale events, such as the Super Bowl, NCAA tournaments, and major music festivals, while the Events Incentive Fund offers grants to municipalities and tourism groups for a broader range of events. To receive these funds, entities must enter into contracts with the state and demonstrate that the event will have a significant positive impact on the state. Additionally, the bill requires an annual report to be submitted to the legislature detailing which organizations received funding and the economic impact of the hosted events.