DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part of
the legislative instrument. The keyword, one-liner, abstract, and digest do not constitute part of
the law or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
Barras HB No. 349
Abstract: Authorizes lease payments for leases of public property by public benefit corporations
to be made annually, quarterly, or monthly.
Present law, relative to leasing of public property, provides generally for opening of bids for
leases of public property and provides for payment of the rentals. Present law specifically
provides for the terms and conditions of leasing of public property through "public benefit
corporations". Those conditions include the following: (1) the corporation must not be organized
for profit, (2) the corporate income must not inure to any private person, (3) the political
subdivision leasing the property must have a beneficial interest in the corporation, (4) the
corporation must be approved by the political subdivision with interest in the corporation, (5) the
lease must be approved by the political subdivision with interest in the corporation, (6) all leases
shall be for a period not to exceed 30 years and rental payments shall be made monthly in cash.
Proposed law allows rental payments made to public benefit corporations to be made monthly,
quarterly, or annually, at the discretion of the lessor.
(Amends R.S. 41:1215(B)(7))