Bill > HB2

This bill provides for Louisiana's comprehensive Capital Outlay budget for the 2015-2016 fiscal year, appropriating funds for various capital projects across the state. It outlines specific projects and their funding sources, primarily from general obligation bonds, federal funds, and self-generated revenues. The bill establishes a priority system for projects funded by general obligation bonds, with Priority 1 projects taking precedence. It also details procedures for managing lines of credit, selling bonds, and addressing potential project funding issues, including provisions for showing impossibility or impracticality in proceeding with higher-priority projects to allow for the funding of lower-priority ones. Furthermore, the bill includes stipulations regarding project descriptions, the filing of necessary forms, and the process for adjusting project details or priorities, requiring legislative approval for significant changes. It also addresses the use of interest earnings from bond proceeds for project completion and allows for the combination of appropriations for efficiency, with specific conditions for certain projects and agencies, including exemptions from certain bidding and contractual review processes. Finally, it sets a limit on the total principal amount of general obligation bonds that can be authorized or issued for the fiscal year and includes a provision for the Governor to veto individual line items.