Bill > HB1127

This bill amends existing Louisiana law regarding cooperative endeavor agreements, which are contracts between government entities and private organizations to achieve a public purpose. Specifically, it adds a new requirement for nongovernmental entities (private organizations) entering into these agreements with the Louisiana Economic Development department. These entities will now be required to spend at least 35% of the money they receive from the agreement on purchasing goods that are manufactured or produced within Louisiana. The bill also mandates that these nongovernmental entities must keep records to prove they are meeting this requirement and provide them to the department if asked. However, this new spending requirement will not apply to economic development programs already established by the Louisiana Constitution, state statutes, or administrative rules before August 1, 2026.