House Bill No. by Representative Braud establishes the Belle Chasse Bridge Merit-Based Special Fund within the state treasury. This fund will receive one-fifth of the severance tax revenues collected from Plaquemines Parish that would typically be allocated to the state general fund. The bill outlines specific uses for the fund, including reducing toll rates on the Belle Chasse Bridge public-private partnership (P3) project, compensating the developer for early contract handback options, covering annual consumer price index (CPI) buy-down payments, and funding Department of Transportation and Development (DOTD) projects related to the P3 contract.

Additionally, the bill amends R.S. 47:645(B)(2) to include the new fund in the allocation process and ensures that the fund's monies will be invested similarly to those in the state general fund, with any interest earned credited back to the fund. Unspent funds at the end of the fiscal year will remain available for future use. The provisions of this act will take effect on July 1, 2026.

Statutes affected:
HB488 Original: 47:645(B)(2)