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 sets forth definitions related to the program. The bill also exempts certain projects from being included in the annual capital outlay budget and establishes the College and University Deferred Maintenance and Capital Improvement Fund, which will be funded through bond proceeds and other sources.

Key provisions include the maximum amount of bonds that can be issued, which is capped at two billion dollars, and the allocation of these funds among different educational systems. The bill mandates that projects financed under this program must be approved by the commissioner of administration and reported to the Joint Legislative Committee on the Budget. Additionally, it stipulates that no bonds can be issued before July 1, 2026, and sets a deadline for the issuance of bonds by July 1, 2036. The effective date of the bill is contingent upon the governor's signature or legislative approval following a veto.