House Bill No. 433 establishes the Site Investment and Infrastructure Improvement Fund as a special fund within the state treasury. The bill outlines the procedures for the transfer, deposit, and utilization of funds, specifying that after the allocation to the Bond Security and Redemption Fund, any money appropriated by the legislature, as well as grants and donations, will be deposited into this new fund. The funds will be invested similarly to the state general fund, with interest earned being credited to the state general fund. Unexpended and unencumbered funds at the end of the fiscal year will remain in the fund.

The bill also stipulates that the funds will be used exclusively for economic development efforts, particularly for site investment and infrastructure improvements. The secretary of Louisiana Economic Development is tasked with adopting and implementing necessary rules for the fund's administration, with the provision for emergency rule adoption. Notably, the bill removes a dedicated revenue source and the requirement for an immediate transfer of $150 million from the state general fund to the new fund, focusing instead on appropriations for economic development purposes. The act will take effect upon the governor's signature or after the lapse of time for gubernatorial action.