Louisiana SB515 clarifies the Small Business Innovation Retention Fund, ensuring it includes state and federal funding sources.
Louisiana SB515 amends the Small Business Innovation Retention Fund to clarify that the fund includes state and federal funding sources. The fund's purpose is to provide financial assistance to Louisiana businesses that have received Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR) federal grants. The bill retains present law and specifies that the businesses must receive competitively awarded federal grants. Effective August 1, 2026.
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