This bill enacts Part VII-A of Chapter 26 of Title 17 of the Louisiana Revised Statutes, establishing a program aimed at addressing deferred maintenance and capital improvement needs at public postsecondary educational institutions in Louisiana. It authorizes the issuance of bonds to finance these projects, outlines the responsibilities of various management boards, and creates the College and University Deferred Maintenance and Capital Improvement Fund. The bill specifies that projects financed under this program will not need to be included in the annual capital outlay budget and sets a maximum bond issuance limit of two billion dollars, with specific allocations for different university systems.

Additionally, the bill mandates that the proceeds from the bonds will be deposited into the newly created fund, which will be used exclusively for expenses related to deferred maintenance of public facilities. It includes provisions for the management and administration of projects, requiring reports on project progress and expenditures. The bill also stipulates that no bonds may be issued before July 1, 2026, and establishes a timeline for the completion of projects, with a final issuance deadline of July 1, 2036.