House Bill No. 433, introduced by Representative Deshotel, establishes the Site Investment and Infrastructure Improvement Fund as a special fund within the state treasury. The bill mandates that the state treasurer deposit 10% of all recurring state general fund revenue into this fund, with a cap of $50 million per fiscal year, starting in Fiscal Year 2025-2026. Additionally, a one-time initial deposit of $150 million will be transferred from the State General Fund into the new fund for Fiscal Year 2024-2025. The fund's resources will be utilized exclusively for economic development efforts, specifically targeting site investment and infrastructure improvements.

The bill also outlines the responsibilities of the Louisiana Economic Development department, which is authorized to adopt rules for the fund's implementation and administration, including the ability to promulgate emergency rules. Monies in the fund will be invested similarly to those in the state general fund, with any interest earned credited back to the state general fund. The act will take effect upon the governor's signature or after the designated period for gubernatorial action.