This bill amends R.S. 42:1113(B) and (C) to strengthen the prohibitions on certain transactions involving public servants and their related entities. Specifically, it clarifies that no appointed member of a board or commission, nor their immediate family or legal entities in which they have a substantial economic interest, may bid on or enter into contracts or transactions under the supervision of their agency. The same prohibition applies to legislators and their immediate families or entities with a controlling interest, ensuring that they cannot engage in contracts related to their agency.

The key changes in the bill involve the replacement of the phrase "be in any way interested" with "have a substantial economic interest" in both sections B and C. This adjustment aims to provide clearer guidelines regarding the nature of the economic interests that would disqualify individuals from participating in certain transactions. The bill will take effect upon the governor's signature or, if not signed, after the designated period for bills to become law without signature.

Statutes affected:
HB503 Original: 42:1113(B)
HB503 Engrossed: 42:1113(B)
HB503 Enrolled: 42:1113(B)
HB503 Act : 42:1113(B)