Louisiana House Bill HB767

Louisiana 2015 Regular Session

• Introduced: 4/3/15
• Refer: 4/3/15
• Refer: 4/13/15
• Refer: 4/21/15
• Refer: 4/22/15
• Report Pass: 4/28/15
• Engrossed: 5/14/15
• Refer: 5/18/15
• Report Pass: 5/25/15
• Refer: 5/26/15
• Report Pass: 6/1/15
• Enrolled: 6/10/15
• Chaptered: 7/1/15
• Passed: 7/1/15

Caption

Creates the Louisiana State Transportation Infrastructure Bank (EN SEE FISC NOTE SD RV See Note)

Impact

The establishment of the Louisiana State Transportation Infrastructure Bank will fundamentally alter how transportation projects are financed in Louisiana. By facilitating loans and other financial mechanisms, the bill is intended to streamline access to funding for projects which are crucial for economic development and public safety. The Bank is expected to play a significant role in managing state transportation funds and ensuring accountability in the expenditure of these resources. Furthermore, the financial assistance provided by the Bank will not be secured by state or local taxes, which allows for a more flexible approach to funding projects that may be underfunded otherwise.

Summary

House Bill 767 establishes the Louisiana State Transportation Infrastructure Bank aimed at providing financial assistance for transportation-related projects across the state. It allows the Bank to issue loans, bonds, and other forms of debt to municipalities and various governmental units for eligible transportation projects, including design, construction, and improvement of transportation facilities. The bill's primary goal is to enhance public infrastructure and facilitate the development of transportation systems that meet the local needs of Louisiana's communities.

Sentiment

The overall sentiment regarding HB 767 appears to be supportive among lawmakers, reflecting a bipartisan commitment to improving Louisiana's transportation infrastructure. Proponents of the bill laud the potential for economic growth and enhanced mobility that could result from significant investment in transportation. While there may be some concerns regarding the implications of centralized funding mechanisms, the general outlook seems to focus on the opportunities for better-managed infrastructure funding and the necessity of modernizing transportation systems throughout the state.

Contention

Notable points of contention surrounding HB 767 include concerns about the oversight and efficiency of the Bank's operations in managing loans and financial support for local projects. Critics fear that without proper accountability, the funds could be misallocated or underutilized, leading to inefficiencies. Additionally, while the bill promotes flexibility in funding projects, there are apprehensions that the lack of direct state tax backing may risk the stability of long-term infrastructure funding.