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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
Regular Session, 2014 ENROLLED
SENATE BILL NO. 321
BY SENATOR RISER
AN ACT1
To amend and reenact R.S. 39:128(B)(1) and (4)(b) and to enact R.S. 39:1367(E)(2)(b)(vi),2
relative to capital outlay; to provide an exemption from the capital outlay procedure3
and capital outlay bill for certain university and higher education projects of less than4
or equal to one million dollars; to authorize the incurrence of short term loans not to5
exceed one year for such projects; to provide that such loans shall not constitute or6
create a debt of the state; to provide that such loans shall not be included in the7
definition of net state tax supported debt; and to provide for related matters.8
Be it enacted by the Legislature of Louisiana:9
Section 1. R.S. 39:128(B)(1) and (4)(b) are hereby amended and reenacted and R.S.10
39:1367(E)(2)(b)(vi) is hereby enacted to read as follows:11
§128. Exemptions12
* * *13
B.(1) Minor repairs, renovation, or construction of buildings or other14
facilities or the purchase of land, buildings, or other facilities when the construction15
cost or purchase price is less than or equal to five hundred thousand one million16
dollars, adjusted annually in accordance with the United States Bureau of Labor17
Statistic's consumer price index for all urban consumers as published in18
January of each year, may be undertaken by or on the campus of a state college,19
university, or higher education facility without being included in the capital outlay20
budget but shall be subject to the approval of the Board of Regents and the21
appropriate management board or their successor. A state college, university, or22
higher education facility may not incur debt to fund any project that is not included23
in the capital outlay budget other than a short term loan not to exceed one year24
for the purposes included in this Paragraph. Any short term loan shall be25
issued in accordance with the provisions of Title 17 of the Louisiana Revised26
Statutes of 1950, and shall not constitute or create any debt, liability, or loan of27 SB NO. 321 ENROLLED
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
the credit of or a pledge of the full faith and credit of the state but shall be solely1
the obligation of the appropriate postsecondary education management board2
or its successor.3
* * *4
(4)(a) * * *5
(b) A state college, university, or higher education facility may not incur debt6
to fund any project not included in the capital outlay budget other than a short term7
loan not to exceed one year payable from fees and self-generated revenues, as8
provided in Paragraph (B)(1) of this Section.9
* * *10
§1367. State debt; limitations11
* * *12
E. As used in this Section, the following terms shall have the following13
meanings ascribed to them unless the context clearly indicates otherwise:14
* * *15
(2)16
* * *17
(b) "Net state tax supported debt" shall not mean:18
* * *19
(vi) Any short term loan not to exceed one year issued by a20
postsecondary education management board for the purpose of financing21
projects as authorized in R.S. 39:128(B)(1).22
PRESIDENT OF THE SENATE
SPEAKER OF THE HOUSE OF REPRESENTATIVES
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED: