Louisiana House Bill HB1186

Louisiana 2012 Regular Session

• Introduced: 4/3/12
• Refer: 4/4/12

Caption

Ratifies and continues the dedication of State Highway Fund No. 2 monies for the payment of bonds for capital maintenance and improvements for the Crescent City Connection (OR SEE FISC NOTE SD EX)

Impact

The bill reaffirms the constitutional dedication of vehicle license tax proceeds for supporting the financing of construction and improvements related to the Crescent City Connection. It dictates that funds previously allocated for this project will remain in effect until the authorized revenue bonds have been fully repaid. By doing so, the bill ensures a steady flow of funding for essential transportation projects, thereby affecting local governance regarding transportation funding and highlighting the link between state financial resources and local infrastructure requirements.

Summary

House Bill 1186 focuses on the continuation of the dedication of funds from State Highway Fund No. 2 for the Crescent City Connection Project, which is vital for ensuring the structural integrity and operational efficiency of this significant infrastructural facility in Louisiana. The bill authorizes the issuance of approximately $100 million in revenue bonds aimed at financing necessary capital maintenance and improvements associated with the Crescent City Connection and related ingress and egress corridors. This initiative is critical for the ongoing operational success and safety of transportation routes in the New Orleans region.

Sentiment

Support for HB 1186 appears robust among legislators emphasizing the importance of infrastructure for economic stability and development within the state. However, there may be some opposition based on concerns about state versus local control over funds and expenditures, as well as how public taxpayer money is being allocated for long-term projects. The discussions surrounding the bill reveal a sentiment focused primarily on progressive transportation solutions balanced with fiscal responsibility.

Contention

A notable point of contention arises from the bill's provision that bonds issued will not constitute a pledge of the state's full faith and credit, which may lead to concerns regarding financial solvency and future obligations. Critics might argue that limiting fund allocations solely to the Crescent City Connection restricts broader infrastructural investment opportunities. The inclusion of procedures for bond issuance without local approvals also raises questions about potential oversights in local governance and expenditure transparency.