Bill > HB433

This bill establishes the Site Investment and Infrastructure Improvement Fund as a special fund in the state treasury, managed by the state treasurer. The fund will receive money through legislative appropriations, grants, donations, and other sources. When monies are deposited, they will be invested similar to the state general fund, with any investment earnings going to the state general fund. The fund's primary purpose is to support economic development efforts, specifically for site investment and infrastructure improvements. The secretary of Louisiana Economic Development is authorized to create rules for implementing and administering the fund, including the ability to use emergency rulemaking procedures. Monies in the fund can only be used after being appropriated by the legislature to Louisiana Economic Development, and any unexpended funds will remain in the account at the end of each fiscal year. The bill will become effective upon the governor's signature or according to standard legislative procedures for bill enactment.

Budget and Finance

https://www.legis.la.gov/legis/BillInfo.aspx?s=25rs&b=HB433&sbi=y