Bill > HB1157

This bill establishes the Louisiana State Infrastructure Bank (LSB) within the office of the governor, transferring its powers and duties there, and creates a dedicated Louisiana State Infrastructure Fund with separate accounts for highway, transit, rail, and state-funded projects. The fund will be capitalized by legislative appropriations, federal funds (including those from the U.S. Department of Transportation's Build America Bureau), proceeds from federal credit instruments, investment earnings, loan repayments, and gifts or donations. Monies in the Highway Account can only be used for eligible infrastructure projects under Title 23 of the U.S. Code, the Transit Account for projects under Title 49 of the U.S. Code, the Rail Account for projects under Subtitle V of Title 49 of the U.S. Code, and the State-Funded Account for any eligible infrastructure project allowed by law, but without federal funds from Title 23 or Title 49. The LSB is designed as a revolving loan and credit assistance program to finance eligible infrastructure projects, including planning, construction, repair, and improvement of transportation facilities, by providing loans or other financial assistance to qualified borrowers such as political subdivisions and private entities, with the goal of promoting economic growth and improving the state's infrastructure. The bill also outlines the composition and powers of the LSB's board of directors, application and review processes for projects, and terms for loans and financial assistance, with all provisions taking effect on July 1, 2026.