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 592 Engrossed 2020 Regular Session Magee
Abstract: Authorizes the Coastal Protection and Restoration Authority to incur debt and issue
bonds. Also authorizes the creation of construction or project funds for the deposit of the
proceeds of bonds or other debt obligations of the authority.
Present law defines "net state tax supported debt" to include the debt obligations issued by the state
or any entity of the state and lists general obligation bonds, debt secured by capital leases, debt
secured by statewide tax revenues, any funds advanced by a political subdivision, and bonds secured
by self-supported revenues.
Present law further defines what is not "net state tax supported debt". Proposed law includes
indebtedness of the Coastal Protection and Restoration Authority (CPRA) in the list of what is not
"net state tax supported debt".
Present law for purposes of coastal projects defines "infrastructure" as publicly owned facilities or
systems that serve a critical public purpose but are negatively impacted by coastal land loss.
Proposed law removes the "publicly owned" limitation.
Present law provides relative to the purposes for which the monies in the Coastal Protection and
Restoration Fund can be used. Proposed law adds the payment of debt services or other debt
payment obligations of the CPRA.
Proposed law further authorizes the creation of construction or project funds within the Coastal
Protection and Restoration Fund. Proceeds of bonds or other debt obligations may be deposited to
those funds and held only for the purpose for which the obligations were issued.
Present law provides generally for the functions and responsibilities of the CPRA. Proposed law
includes issuing bonds or incurring other debt obligations provided that the issuance of such debt
obligations is approved by the State Bond Commission.
(Amends R.S. 49:214.2(10) and 214.6.2(D)(7); Adds R.S. 39:1367(E)(2)(b)(viii) and R.S.
49:214.5.4(G)(10) and (J))