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 establishes debt service payment obligations for projects financed through bonds issued on behalf of nonprofit corporations within the Louisiana Community and Technical College System, capping these obligations at $43.9 million per year. The bill outlines that projects financed under this authority must include a minimum of 12% in private match funds, and it specifies a list of authorized projects across various community college campuses.

Additionally, the bill mandates that the board periodically conduct a facilities needs assessment to prioritize improvements and maintenance of its facilities. It allows for the amendment of the project list 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)