Louisiana HR 356: ECONOMIC DEVELOPMENT: Urges and requests Louisiana Economic Development to study the benefits of creating a minority business development fund

Bill Text

HLS 26RS-5948ORIGINAL
2026 Regular Session
HOUSE RESOLUTION NO. 356
BY REPRESENTATIVE JORDAN
ECONOMIC DEVELOPMENT:  Urges and requests Louisiana Economic Development to
study the benefits of creating a minority business development fund
1A RESOLUTION
2To urge and request Louisiana Economic Development to study the benefits of creating a
3minority business development fund.
4WHEREAS,  minority-owned businesses in this state face systemic barriers to capital
5access, including discriminatory lending practices, lower collateral asset bases resulting from
6historical wealth exclusion, and lack of access to traditional financial networks; and
7WHEREAS, the racial wealth gap in this state is a direct consequence of historically
8sanctioned discrimination in employment, housing, and business ownership, and represents
9an ongoing economic harm to the state; and
10WHEREAS, access to affordable capital is the single most significant factor limiting
11the formation and growth of minority-owned small businesses; and
12WHEREAS, state investment in minority business development yields measurable
13returns through tax revenue generation, job creation, and community wealth building; and
14WHEREAS, according to Louisiana Economic Development (LED), LED is the
15cabinet-level state agency responsible for strengthening Louisiana's business environment,
16attracting new companies, and supporting existing business growth. It drives the state's
17economy by providing financial incentives, specialized workforce training through LED
18FastStart, and strategic development for key industries like energy and manufacturing; and
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HLS 26RS-5948ORIGINAL
HR NO. 356
1WHEREAS, investing in minority business development would align with the
2mission of LED, as established by state law in 1936, to cultivate jobs and economic
3opportunity for the people of Louisiana; and
4WHEREAS investing in minority business development is overall a good business
5practice to support economic growth in Louisiana.
6THEREFORE, BE IT RESOLVED that the House of Representatives of the 
7Legislature of Louisiana does hereby urge and request Louisiana Economic Development
8to study the benefits of creating a minority business development fund.
9BE IT FURTHER RESOLVED that House Bill No. 829 of the 2026 Regular Session
10would have created a Louisiana Minority Business Development Fund and can be used as
11a possible guide for the consideration of creating a fund.
12BE IT FURTHER RESOLVED that Louisiana Economic Development shall
13consider, but not be limited to, the following purposes for loans given pursuant to the fund:
14(1)  Working capital.
15(2)  Equipment and machinery purchase or lease.
16(3)  Leasehold improvements or build-out costs.
17(4)  Inventory acquisition.
18(5)  Technology and software infrastructure.
19(6)  Business acquisition, if the acquired business continues operations in this state.
20(7)  Refinancing of existing high-interest debt, subject to the approval of the
21secretary.
22BE IT FURTHER RESOLVED that Louisiana Economic Development shall issue
23a report to the Louisiana House of Representatives no later than January 1, 2027, with the
24results of the study outlined in this Resolution.
25BE IT FURTHER RESOLVED that Louisiana Economic Development shall submit
26one printed copy and one electronic copy of any report produced pursuant to this Resolution
27to the David R. Poynter Legislative Research Library as required by R.S. 24:772.
28BE IT FURTHER RESOLVED that a copy of this Resolution be transmitted to the
29secretary of Louisiana Economic Development.
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HLS 26RS-5948ORIGINAL
HR NO. 356
DIGEST
The digest printed below was prepared by House Legislative Services.  It constitutes no part
of the legislative instrument.  The keyword, one-liner, abstract, and digest do not constitute
part of the law or proof or indicia of legislative intent.  [R.S. 1:13(B) and 24:177(E)]
HR 356 Original2026 Regular SessionJordan
Urges and requests Louisiana Economic Development to study the benefits of creating a
minority business development fund.
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