The bill amends and reenacts specific introductory paragraphs of R.S. 17:3394.3, while also enacting new provisions under R.S. 17:3394.3(A)(6) and (D). It focuses on the issuance of bonds to finance capital improvement projects within the Louisiana Community and Technical College System. A key provision establishes that debt service payment obligations for these projects, particularly those financed through nonprofit corporations and payable from state appropriations, shall not exceed $43.9 million per year. Additionally, the bill outlines that each project must secure a minimum of 12% in private matching funds before financing can proceed.

The bill also specifies a list of authorized projects, including various community college campuses, and mandates that the board conduct periodic assessments of facility needs to prioritize improvements. The board is granted the authority to amend the project list as necessary to address facility needs or support economic development. The effective date for this legislation is set for July 1, 2025, with provisions for it to take effect sooner if approved by the legislature following a gubernatorial veto.

Statutes affected:
SB72 Original: 17:3(B)
SB72 Engrossed: 17:3(B)
SB72 Reengrossed: 17:3(B)
SB72 Enrolled: 17:3(B)
SB72 Act : 17:3(B)