Louisiana Revised Statutes 4:158.2 – A. Each association or licensee as defined in R.S. 4:143 shall submit to the commission, the Senate Committee on Judiciary B, and the House Committee on Commerce all of the following
Terms Used In Louisiana Revised Statutes 4:158.2
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
A. Each association or licensee as defined in La. Rev. Stat. 4:143 shall submit to the commission, the Senate Committee on Judiciary B, and the House Committee on Commerce all of the following:
(1) A report naming each individual, corporation, firm, partnership, association, or other legal entity that furnishes professional services to the association or the licensee. The report shall indicate the name and address of the entity providing the professional services and if the entity providing a professional service is a registered Louisiana business, a female-owned business, or a minority-owned business.
(2) A report on the demographic information of the association’s or licensee’s workforce, including but not limited to race, gender, and Louisiana residency.
B. As used in this Section, “professional services” means those services rendered in this state and shall include but are not limited to:
(1) Legal services.
(2) Advertising or public relations services.
(3) Engineering services.
(4) Architectural, landscaping, or surveying services.
(5) Accounting, auditing, or actuarial services.
(6) Construction and skilled trade services.
C. The reports required by the provisions of this Section shall be submitted on a quarterly basis. Each report shall be forwarded to the commission and the legislative committees described in Subsection A of this Section by certified mail no later than twenty days after the end of each calendar quarter.
D. A report required by the provisions of this Section shall be a public record and governed by the provisions of La. Rev. Stat. 44:1 et seq.
E. A report required by the provisions of this Section shall not be required to contain the amount of compensation paid by the association or licensee to each individual, corporation, firm, partnership, association, or other legal entity in exchange for providing the professional services nor shall it be required to contain the amount of compensation paid to each of its employees.
F. The commission may suspend or withdraw licenses, permits, and privileges granted by it or terminate racing privileges for failure to timely submit the report required by the provisions of this Section.
G. The commission shall adopt rules to implement the provisions of this Section. All rules shall be adopted pursuant to the provisions of the Administrative Procedure Act.
H. The first reports required pursuant to this Section shall be submitted on or before October 20, 2022.
Acts 2022, No, 525, §1, eff. June 16, 2022.