The bill enacts Chapter 31-C of Title 51 of the Louisiana Revised Statutes, establishing the Cajundome Commission as a political subdivision of the state. This commission, originally created in 1987 through an intergovernmental contract between the University of Louisiana at Lafayette and the city of Lafayette, is tasked with the development, management, operation, and maintenance of the Cajundome, a multi-purpose arena. The bill ensures the commission's continuity beyond the expiration of the current intergovernmental contract on July 31, 2024, allowing it to operate without interruption and maintain all existing rights, benefits, debts, and obligations.

The governance of the commission will be overseen by a board of five commissioners, with specific appointment procedures outlined for its members. The commission is granted various powers, including the ability to acquire property, enter contracts, set rates for facility use, and accept donations. Additionally, it can incur debt and issue bonds for authorized purposes. The bill also stipulates that all existing policies and contracts will remain in effect until amended by the board, ensuring a smooth transition into the new statutory framework.