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 618 Original 2015 Regular Session St. Germain
Abstract: Authorizes the state treasurer to invest public funds in a state infrastructure bank and
donate, loan, pledge, or guarantee funds to or for political subdivisions to use on
transportation projects.
Present constitution prohibits the loan, pledge, or donation of funds, credit, property, or things of
value of the state. Provides an extensive list of exceptions to this prohibition.
Proposed constitutional amendment retains present constitution and adds an exception for the
investment of public funds to capitalize a state infrastructure bank and for the bank to loan, pledge,
or guarantee public funds for transportation projects.
Provides for submission of the proposed amendment to the voters at the statewide election to be held
on October 24, 2015.
(Amends Const. Art. 7, ยง14(B))