Louisiana House Bill HB934

Louisiana 2010 Regular Session

• Introduced: 3/29/10
• Refer: 3/29/10
• Report Pass: 4/14/10
• Engrossed: 4/26/10
• Report Pass: 6/1/10
• Enrolled: 6/10/10
• Chaptered: 6/21/10
• Passed: 6/21/10

Caption

Provides for additional purposes for which public postsecondary education management boards shall use revenues from oil, gas, and mineral leases

Impact

The bill significantly impacts state regulations concerning the management and allocation of funds received by public educational institutions from mineral leases. It reinforces that these funds should not affect the general appropriations or the Board of Regents' fund allocation formulas. Consequently, colleges and universities can expect supplementary revenues for various projects, which include emergency repairs and major infrastructure upgrades, thereby contributing to overall campus safety and academic excellence.

Summary

House Bill 934 aims to amend and reenact R.S. 17:3367(C), pertaining to the allocation and use of revenues generated from oil, gas, and mineral leases by public postsecondary education management boards in Louisiana. The bill seeks to establish additional purposes for which these revenues can be utilized, emphasizing the benefit of colleges and universities associated with the executed leases. The clarifications regarding fund allocation intend to ensure that such revenues are used strictly for the enhancement and upkeep of associated educational institutions, alongside existing appropriated funds.

Sentiment

The sentiment surrounding HB 934 appears to be generally positive among legislative supporters. The bill is seen as a necessary regulatory enhancement that allows public postsecondary education management boards to better utilize funds that could lead to improved educational facilities and outcomes. The focus on prioritizing safety and maintenance resonates favorably with educational institutions and advocates for higher education funding.

Contention

Notably, the bill includes provisions for capital projects, specifying that any capital undertaking costing $150,000 or more must be included in a capital outlay budget submitted for legislative action. This requirement may raise questions about bureaucratic process and efficiency among some stakeholders who may prefer a more streamlined approach to using these funds without extensive legislative oversight.