RÉSUMÉ DIGEST
ACT 388 (SB 77) 2023 Regular Session Reese
Existing law requires a match of not less than twenty-five percent of the total requested
amount of funding for non-state entity capital outlay projects with certain exceptions.
New law requires a match of not less than twenty-five percent of the total project cost for
non-state entity capital outlay projects and otherwise retains existing law.
Existing law prohibits the commencement of work and contracting for any project contained
in the capital outlay act unless and until funds are available from the cash sources indicated
in the act or from the sale of bonds or from a line of credit approved by the State Bond
Commission, except for certain contracts for Department of Transportation and Development
projects.
New law adds an exception for funds that are received as supplemental funds for ongoing
projects for which contracts have been issued and otherwise retain existing law.
Effective August 1, 2023.
(Amends R.S. 39:112(E)(2)(intro para) and 122(A)(1))