This bill amends and reenacts several sections of the Louisiana Revised Statutes related to the Port Construction and Development Priority Program. Key modifications include expanding the entities with which the department can contract for program development, now allowing any state college or university instead of just the Louisiana State University Ports and Waterways Institute. The bill also introduces new definitions for "benefit cost ratio," "large project," and "standard project," which will help clarify the criteria for project evaluation and funding. Additionally, it establishes a local match requirement for projects, specifying that standard projects will require a ten percent local match, while large projects will require a twenty percent local match, contingent on additional funding from the legislature.

Furthermore, the bill mandates proper notice for public hearings regarding project prioritization and outlines the process for submitting and reviewing project applications. It stipulates that the department must prepare a prioritized list of projects quarterly, which will be reviewed by a joint committee that can accept, reject, or modify the list. The final program for the upcoming fiscal year will be based on anticipated revenues and will not allow the legislature to add new projects once presented. The Louisiana State Law Institute is tasked with alphabetizing and renumbering definitions within the relevant statutes to ensure clarity and consistency.

Statutes affected:
HB776 Original: 34:3452(D), 34:3457(A)
HB776 Engrossed: 34:3452(A)(1), 34:3457(A)
HB776 Enrolled: 34:3452(A)(1), 34:3457(A)
HB776 Act 836: 34:3452(A)(1), 34:3457(A)