Louisiana Senate Bill SB204

Louisiana 2013 Regular Session

• Introduced: 4/8/13
• Refer: 4/8/13
• Report Pass: 4/15/13
• Refer: 4/16/13
• Report Pass: 4/29/13
• Engrossed: 5/7/13
• Refer: 5/8/13
• Refer: 5/14/13
• Refer: 5/15/13
• Report Pass: 5/22/13
• Enrolled: 6/1/13
• Chaptered: 6/17/13
• Passed: 6/17/13

Caption

Provides relative to the issuance of bonds to finance capital improvements for the Louisiana Community and Technical Colleges System. (2/3-CA7s6(F)(1))(gov sig)

Impact

The impact of SB 204 on state laws is significant as it amends R.S. 17:3394.3 to facilitate the financing of capital projects without state funds being appropriated until a specified date. By allowing projects to be funded through bonds that are not classified as state tax-supported debt, the bill ensures that these capital improvements do not add to the state's financial liabilities immediately. Additionally, a requirement for a private match fund ensures that there is community investment in these educational projects.

Summary

Senate Bill 204 focuses on the issuance of bonds to finance various capital improvements and enhancements within the Louisiana Community and Technical Colleges System. Specifically, the bill outlines a range of projects that are set to receive funding, including workforce training centers and technical education facilities. This approach aims to advance educational resources and infrastructure to better support students and communities across Louisiana, thereby enhancing the state's workforce capabilities.

Sentiment

General sentiment around SB 204 appears to be supportive, particularly among stakeholders in education and workforce development. The inclination to invest in technical education indicates a recognition of its importance for economic growth and the need for skilled labor in Louisiana. However, some concerns were raised regarding the financial commitments and transparency of funding mechanisms used in the bond issuance, sparking a dialogue on strategic fiscal management.

Contention

Notable points of contention include the mechanism of financing these projects through bonds, which raises questions about future obligations tied to the state's financial health. Some legislators expressed apprehension about the risks associated with public borrowing without adequate oversight or guarantees that funds would be appropriately allocated. Additionally, while the bill aims to bolster workforce training and education, discussions highlighted the need to ensure that the programs financed truly meet the demands of the local economies they serve.