House Bill No. [insert bill number] establishes the Louisiana State Infrastructure Bank within the Division of Administration to enhance infrastructure funding in the state. The bill amends R.S. 36:4(B)(1)(m) to include the bank and introduces new provisions under R.S. 48:77.3 and Subpart B of Part V of Chapter 1 of Title 48. The bank will be governed by a board of directors and is tasked with providing loans and financial assistance for various infrastructure projects, including transportation, water, energy, and resilience initiatives. It has the authority to incur debt, issue bonds, and guarantee debts of other entities, ensuring that all financial assistance is structured for repayment. The bill also specifies funding sources for the Louisiana State Infrastructure Fund, including federal funds, and outlines definitions for eligible projects and costs.

The legislation emphasizes that the bank is not a traditional banking institution and will not accept deposits from the general public. It allows for flexible interest rates and repayment terms for loans while requiring project eligibility reviews by relevant state agencies. The bank will operate under a revolving fund, with revenues from legislative appropriations, federal grants, and private investments. The bill mandates the board to adopt bylaws, conduct meetings in accordance with the Open Meetings Law, and submit annual reports to the governor and legislature. Additionally, it appropriates $1 million from the state general fund to the Louisiana State Infrastructure Fund for loans to qualified borrowers for eligible projects, with an effective date of July 1, 2026.