NOTE: Terminates on June 30, 2023. See La. Rev. Stat. 51:2377.

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            A.(1) There is hereby created a body politic to be known as the Louisiana Small Business and Entrepreneurship Council, hereinafter referred to in this Chapter as the “council”. The council is hereby constituted a public authority and the exercise by the council of the powers conferred by this Chapter shall be deemed to be performance of an essential public function. The board of directors of the council shall be composed of sixteen members. The board shall consist of the secretary of the Department of Economic Development or a designee and fifteen members who are appointed by the governor, subject to Senate confirmation, none of whom shall be a public official except for the secretary of the Department of Economic Development or a designee and the secretary of state or a designee.

            (2) The Louisiana Small Business and Entrepreneurship Council will identify issues pertinent to the operations of small businesses and advise the department and the governor on issues affecting the competitiveness of small businesses in Louisiana. The council will advise the department on strategies to cultivate small business competitiveness and strengthen entrepreneurship throughout the state. The council in conjunction with the department will ensure coordination of small business support between federal, state, and local agencies so as to decrease duplicative regulations, rules, and requirements. The council will advise the department and the governor on policies and programs that make small businesses more competitive.

            (3) The members of the board of directors shall consist of all of the following:

            (a) The secretary of the Department of Economic Development or a designee.

            (b) The Louisiana secretary of state or a designee.

            (c) One representative submitted by the Louisiana Alliance for Economic Inclusion or its successor organization.

            (d) One representative submitted by the Louisiana Small Business Development Center.

            (e) One representative submitted by the Louisiana Business Incubation Association.

            (f) One representative submitted by the Louisiana Bankers Association.

            (g) One member representing the Louisiana venture capital industry or the Louisiana angel investor community.

            (h) One member who is appointed from a list of three private sector individuals submitted by the National Federation of Independent Business.

            (i) One member who is appointed from a list of three private sector individuals submitted by the Louisiana Association of Business and Industry.

            (j) One minority small business owner who is appointed by the governor from a list of three private sector individuals submitted by Louisiana-based organizations representing minority business interests.

            (k) One female small business owner who is appointed by the governor from a list of three private sector individuals submitted by Louisiana-based organizations representing women’s business interests.

            (l) Five at-large members representing small business interests appointed by the governor.

            B. The secretary of the Department of Economic Development or a designee shall serve a term coterminous with his term in office. The remaining members shall serve four-year terms, except that of the initial appointments, three shall be for two-year terms, three shall be for three-year terms, and two shall be for four-year terms. Vacancies shall be filled in the manner of original appointment.

            C. The domicile of the council is Baton Rouge, Louisiana.

            D. The council is governed and its powers exercised by the members of the council. The secretary of the Department of Economic Development shall serve as president of the council, and he or his designee shall be a member of the board of directors.

            E. A majority of the appointed members of the board, including the secretary, shall constitute a quorum.

            F. Members of the board shall serve without compensation, but each member is entitled to reimbursement of actual and necessary expenses incurred in the performance of official duties in accordance with state travel regulations.

            G. The board shall annually elect a chairman and such other officers as may be deemed necessary.

            Acts 2018, No. 327, §1.