Senate Bill No. 141, introduced by Senator Connick, aims to amend the existing laws governing nonprofit corporations in Louisiana, specifically focusing on Plaquemines Parish. The bill modifies R.S. 12:202.1(A) and (D) to clarify that no state board, commission, or department can incorporate a nonprofit corporation with public or quasi-public functions that may issue bonds without legislative approval. However, it introduces an exception for local political subdivisions with populations over 150,000 and explicitly includes Plaquemines Parish in this exception. This allows quasi-public nonprofit corporations to be created in Plaquemines Parish under Louisiana's general nonprofit corporation law, granting them the authority to issue negotiable revenue bonds up to $15 million, which will be exempt from taxation.

Additionally, the bill enacts R.S. 41:1215(B)(10), which defines a "public benefit corporation" and establishes that any lease or sublease executed by such a corporation in Plaquemines Parish can last up to 99 years. The rental terms for these leases can be structured as a lump sum or in installments, at the lessor's discretion. This legislation is set to take effect on August 1, 2025, and aims to facilitate the formation and operation of nonprofit corporations in Plaquemines Parish while ensuring compliance with existing legal frameworks.

Statutes affected:
SB141 Original: 12:1(A)