Bill > HB3

This bill provides for the Omnibus Bond Authorization Act of 2025, which is designed to manage the state's capital improvement program and bond authorizations. The legislation aims to address the accumulation of outdated and unused bond authorizations by repealing most prior bond acts, except for refunding bond acts and a specific 2006 act. The bill authorizes the State Bond Commission to issue general obligation bonds for capital improvement projects outlined in the 2025 Capital Outlay Act, with a focus on reauthorizing essential projects and introducing new ones. It establishes detailed provisions for how these bonds can be issued, including requirements for management boards and state agencies to provide reimbursement through student fees or other revenues. The bill includes safeguards such as establishing reserve accounts and requiring reimbursement contracts to ensure financial responsibility. The bonds will be general obligations of Louisiana, backed by the state's full faith and credit, and secured through the Bond Security and Redemption Fund. The act is set to expire on June 30, 2026, unless specific conditions are met, such as bonds being sold or construction contracts signed. This legislation represents an annual effort to streamline and optimize the state's bond authorization process, ensuring financial efficiency and accountability in capital improvements.

Budget and Finance

https://www.legis.la.gov/legis/BillInfo.aspx?s=25rs&b=HB3&sbi=y