ECONOMIC DEVELOPMENT: Provides for the Louisiana Minority Business Development Fund (OR +$25,000,000 GF See Note)

HB 829 creates the Louisiana Minority Business Development Fund to provide low-interest loans to qualifying minority-owned small businesses. It directly affects businesses majority-owned by African American, Hispanic, Asian Pacific, Native American, or women-owned entities (with ≤50 employees, ≤$5M annual revenue, and ≥12 months in operation). The fund operates as a revolving loan program with fixed interest rates (3-5%) and loan limits up to $500,000, prioritizing flexible collateral and technical assistance. Repayments, state appropriations, and grants replenish the fund, ensuring long-term capital access without annual budget reversion.