LA SB201

Expands the definition of "qualified major event" eligible for the Major Events Incentive Program to include additional events such as UFC fights, ATP/WTA tennis tournaments, professional rodeo events, the State Fair of Louisiana, Humor and Harmony Weekend, and professional boat racing events

Requires contracts under the Major Events Incentive Program to receive prior approval from the Joint Legislative Committee on the Budget, with financial commitments capped at either the recruitment costs or the event's projected economic impact, whichever is greater

Creates a new Events Incentive Fund in the state treasury and establishes the Events Incentive Program for smaller events that are not "qualified major events" and occur no more than once per year in any state

Limits grants under the new Events Incentive Program to 25% of total anticipated event costs, with a maximum of $250,000 per grant, for events with at least $350,000 in anticipated economic impact

Requires grant recipients to submit applications 180 days before events, provide economic impact analyses, and make records available for inspection; Louisiana Economic Development must submit annual reports to the Joint Legislative Committee on the Budget by September 1