Bill > HB2

This bill provides for the comprehensive Capital Outlay budget for Louisiana's state government, state institutions, and public entities for Fiscal Year 2025-2026. The bill establishes guidelines for appropriating and spending funds for various capital improvement projects across the state. Key provisions include: setting a maximum of $1,806,214,274 for cash lines of credit and general obligation bonds; establishing a Comprehensive Capital Outlay Escrow Account where all appropriated funds will be deposited; providing flexibility for project administration by allowing the commissioner of administration to combine or transfer project funds under certain conditions; and setting requirements for non-state entities receiving funds, such as completing projects within two years of bond issuance. The bill also includes specific provisions for various projects, such as allowing alternative contracting methods for complex projects like the LSU Research Well and USS KIDD restoration, and exempting certain local projects from matching fund requirements. Additionally, the bill outlines debt service costs, with the current outstanding state tax supported debt at $8,588,560,474, and estimates an annual debt service of $40,500,000 for new bond capacity. The legislation aims to provide a structured approach to managing and implementing capital improvement projects across Louisiana's government and public institutions.

Budget and Finance

https://www.legis.la.gov/legis/BillInfo.aspx?s=25rs&b=HB2&sbi=y