The bill enacts Chapter 2-B of Code Title II of Code Book III of Title 9 of the Louisiana Revised Statutes, establishing regulations for special charitable trusts. It defines a special charitable trust as one created with a minimum donation of fifty million dollars aimed at improving the health and lives of Louisiana residents. The chapter outlines the duties and liabilities of trustees, including their fiduciary responsibilities, limitations on business dealings with the trust, and the ability to delegate duties. It also specifies that trustees and officers are entitled to reasonable compensation and indemnification for actions taken in good faith.

Additionally, the bill includes provisions for the limitation of political and lobbying activities by special charitable trusts, ensuring compliance with federal tax regulations. It allows for indemnification of trustees and officers in legal proceedings, provided they acted in good faith and within their official capacities. The bill also clarifies that the provisions of the Louisiana Trust Code apply unless otherwise specified, and it mandates that any amendments to the trust require court approval. Overall, the legislation aims to provide a structured framework for the establishment and operation of special charitable trusts in Louisiana.