House Bill No. 776, introduced by Representative Bourriaque, aims to amend the Port Construction and Development Priority Program in Louisiana by introducing new definitions such as "benefit cost ratio," "large project," and "standard project." These definitions will help evaluate port projects based on their costs and expected returns. The bill sets maximum funding limits for these projects, capping standard projects at $21 million and large projects at $33 million, while also revising local match requirements for funding. The local match will now be 10% for standard projects and 20% for large projects, contingent on additional legislative funding. Additionally, the bill expands the entities with which the Department of Transportation and Development (DOTD) can contract, allowing any state college or university to participate.

The bill also modifies publication requirements for official notices regarding public hearings, mandating that they be published in the Official Journal of the State starting July 1, 2027, instead of necessary journals. It removes the previous restriction that prohibited state funding for categorized projects, thereby allowing for potential state financial support. Furthermore, large projects requiring a 20% local match will depend on the legislature's allocation of additional Transportation Trust Fund dollars. The classification of "a very large project" is eliminated from the local match requirements, and the Louisiana State Law Institute is tasked with alphabetizing and renumbering definitions in the relevant statutes for clarity.

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