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)]
HB 495 Engrossed 2015 Regular Session Talbot
Abstract: Requires the Joint Legislative Committee on Capital Outlay (JLCCO) to approve
nonstate entity line of credit recommendations before the division of administration submits
the list to the State Bond Commission for funding.
Present law prohibits work from commencing and contracts from being entered into for any project
contained in the capital outlay act unless and until funds are available from cash sources indicated
in the act, or from the sale of bonds or from a line of credit approved by the State Bond Commission
(SBC). Present law exempts certain contracts for the Dept. of Transportation and Development from
this prohibition.
Present law requires the JLCCO to make recommendations to the commissioner of administration
concerning nonstate entity projects to be granted lines of credit. Further requires the commissioner
to submit the list of projects to be recommended for lines of credit to the JLCCO a minimum of five
days prior to submission of the list to the SBC.
Proposed law changes present law by requiring the commissioner to make recommendations to the
JLCCO concerning nonstate entity projects to be recommended for lines of credit. Further requires
the commissioner to submit the list of recommendations to the JLCCO no less than 15 days prior to
the meeting date of the SBC in which the lines of credit are to be considered for funding.
Proposed law requires the JLCCO to make final recommendations by approving the list, rejecting
any project on the list, or making any other changes to the list. Only nonstate entity projects which
received approval from the JLCCO can be submitted to the SBC for consideration of funding.
Effective Jan 1, 2016.
(Amends R.S. 39:122(A))
Summary of Amendments Adopted by House
The Committee Amendments Proposed by House Committee on Ways and Means to the original
bill:
1. Change the effective date from July 1, 2015, to Jan. 1, 2016.