Senate Bill No. 71, introduced by Senator Boudreaux, authorizes the Secretary of the Department of Transportation and Development (DOTD) to transfer specific state properties located in Lafayette Parish to the Lafayette Public Trust Financing Authority. The bill includes detailed descriptions of the parcels involved, which consist of two tracts of land identified as PARCEL NO(S). ADV-19-A-P1 and ADV-19-C-P1, as well as an additional parcel identified as PARCEL NO. ADV-13-P1. The bill stipulates that mineral rights will be reserved for the state, ensuring that these rights remain under state control despite the transfer of property ownership.

The bill also empowers the Secretary of DOTD to enter into necessary agreements and execute documents to facilitate the transfer, ensuring that the process adheres to the terms and conditions outlined in the legislation. The effective date of the bill is contingent upon the governor's signature or the expiration of the time for bills to become law without the governor's signature. Additionally, an amendment adopted by the Senate Committee on Natural Resources changes the responsible party from the commissioner of administration to the secretary of DOTD.